The Queensland Government has announced the long-awaited delivery of the CopperString 2.0 project, which will unlock Australia’s largest renewable energy zone and more than $500 billion in new critical minerals in North Queensland.
Copperstring 2.0 is a 1,100km, high voltage transmission line proposal to connect the North West Minerals Province to the National Electricity Market. The $5 billion project will connect Mount Isa to Townsville, providing reliable energy for communities and industry in between.
The project will commence works in 2023 with construction set to commence in 2024. The project scope includes an increase in transmission capacity for the section between Townsville and Hughenden, from 330kV to 500kV, to unlock the renewable energy potential of the region.
The estimated project cost has been updated for current global supply chain conditions.
Queensland Premier, Annastacia Palaszczuk, announced the project and said it is the government’s biggest investment to support economic development to date.
“Unlocking affordable renewable energy and our critical minerals will benefit Townsville, Mount Isa and every town in between – unlocking thousands of jobs and billions in investment,” Ms Palaszczuk said.
“Townsville will become a renewable manufacturing epicentre between the world and the largest renewable energy zone in the nation, and the world class North West Minerals Province.
“CopperString ensures that Mount Isa will continue to be the heart of the North West Minerals Province.
“CopperString and the Townsville critical minerals demonstration plant will act as a magnet for investment into North Queensland during the clean energy industrial revolution and that means good secure mining and manufacturing jobs for Queenslanders.”
Construction of the project is expected to support 800 direct jobs over six years and thousands of new jobs in critical minerals mining, manufacturing and construction of renewables.
Queensland Treasurer and Minister for Trade and Investment, Cameron Dick, said, “The pressures on Australia’s energy system in recent years have once again proved the benefits of Queensland’s public ownership of our electricity assets.
“Our Queensland Energy and Jobs Plan makes clear that we will own 100 per cent of our transmission assets.
“And we can only deliver on this commitment because at least $500 million of the cost is being delivered through our new progressive coal royalty tiers.”
Queensland Energy Minister, Mick de Brenni, said, “Our Queensland SuperGrid, the nation’s largest, allows Queensland to produce, use, and export the next era of high value extracted minerals – through the renewable energy that the world is craving, we’ll create literally tens of thousands of well paid jobs for generations to come.
“Building this transmission line opens up 6,000 megawatts of potential renewable energy in the North Queensland Renewable Energy Zone, creating more jobs than our state has ever seen in a new, decarbonised resources sector stretching from Townsville to Mt Isa – and they’re starting right now, with early works packages to be rolled out almost immediately.”
Queensland Resources Minister, Scott Stewart, said, “Queensland has vast reserves of critical minerals, such as copper, zinc, vanadium and cobalt, that the world is demanding to produce batteries and renewable energy as part of their plans to decarbonise.
“Copperstring 2.0 will help create opportunities for resources companies to develop critical minerals projects and the broader North West Minerals Province.
“This announcement is bigger than just Townsville and North Queensland, it’s a Eureka moment for the whole world.”
Publicly owned transmission business Powerlink will lead work on the project.
The Association of Mining and Exploration Companies (AMEC) has welcomed the Queensland Government’s announcement, with AMEC CEO, Warren Pearce, saying the project is a major step forward in supporting Queensland’s critical minerals opportunity, and the commitment was especially welcome after ten years of advocacy, from across all industries, to see the project built.
“AMEC has been a strong advocate for CopperString 2.0, with many of our members seeking to develop new mining projects based in the economic zone between Mount Isa and Townsville,” said Mr Pearce.
