Developing the CopperString 2.0 transmission project would power an additional 3560 jobs in North and North-West Queensland in the next 30 years, a new report shows.
The report, “Re-powering the Townsville & North West Minerals Province Industrial Economy”, also finds that Queensland’s aggregate Gross State Product would increase by $139 billion with the project up and running.
The proposed CopperString 2.0 project would see an 1100km high voltage transmission network connecting the North West Minerals Province to the national transmission grid.
The study found that by removing the barrier of isolation from the national grid for the NWMP, aggregate gross minerals production was forecast to increase by $154 billion over 30 years, CopperString 2.0 proponents say.
CopperString 2.0 founder John O’Brien said CopperString was a transformative project because it would fill the “missing link” connecting world-class natural resources – minerals and clean energy – with the National Electricity Market to unlock enormous industrial manufacturing and export opportunity.
“Common use infrastructure investment is essential for our region to sustain global-competitiveness through lower prices and lower emissions intensity for our minerals and fertiliser manufacturing industries and it’s these industries that sustain thousands of jobs and add billions to Northern Queensland’s economy each year and for decades to come.” Mr O’Brien said.
“The economic and strategic drivers for growing the Townsville and NWMP industrial economy have never been more important and the study findings we are releasing this week demonstrate the enormous opportunity if we can continue our collaboration with State and Federal Governments to deliver this game-changing infrastructure.”
The study by a consortium of highly regarded geology and mining consultants has been provided to the Prime Minister and the Queensland Premier and the National COVID Coordination Committee through Chair Nev Power.
“For CopperString we need to bed-down an Implementation Agreement with the Queensland Government, secure financing support from the Australian Government and the Northern Australia Infrastructure Facility, and continue our approvals and engineering work to ensure we remain on track to commence construction in the first half of 2021,” Mr O’Brien said.
“Building major common use infrastructure to deliver long-term macro- economic benefit and advances strategic industrial manufacturing objectives can only be achieved with the firm support of the Queensland and Australian Governments and local communities.”