The Queensland government has said it will take control of a $5bn proposal to build a 1,100km power line connecting Mount Isa to the national grid, which it says will “unlock” development of new-economy mineral deposits in the state’s north west.
The project, known as CopperString 2.0, has long been touted as necessary to provide future energy certainty to Queensland’s north-west minerals province, where miners are considering the potential to extract large amounts of copper, cobalt, vanadium, lead, zinc and phosphate.
The government said the project was a “Eureka moment” that would also provide a trigger for new minerals processing, battery manufacturing and new renewable energy generation projects in north Queensland.
The proposal, which had been developed by a private company, will now be controlled by state-owned transmission company Powerlink.
“CopperString is the most significant investment in economic infrastructure in north Queensland in generations,” the premier, Annastacia Palaszczuk, said.
“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.”
The government also said the cost of the CopperString project had doubled from early estimates of $2.5bn due to current market conditions.
The high-voltage transmission line will be built in three sections, connecting Townsville to Hughenden, Hughenden to Cloncurry, and Cloncurry to Mount Isa.
Construction is expected to begin next year, with the project completed by 2029.
Within government, there have been some concerns that the pace of renewable development, particularly solar, in north Queensland has slowed in recent years.
The CopperString project would provide more options for renewable energy generated in the region. It is hoped renewables can power minerals processing in Townsville and other parts of north Queensland, partly to meet growing global demand for exports with “green” credentials.
The energy minister, Mick de Brenni, said the project would allow for the development of 6,000MW of potential renewable energy in north Queensland.
The Queensland treasurer, Cameron Dick, said the state’s conscious decision to maintain majority public ownership of energy assets would be beneficial, amid pressures on the energy system.
“Our Queensland energy and jobs plan makes clear that we will own 100% of our transmission assets,” Dick said.
“This announcement delivers on that commitment. 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.”
