The Federal Government has included support for the CopperString 2.0 project in its 2020-21 Budget.
Building on the Government’s 2019 grant of $5.17 million to support preparatory work on CopperString, further Government support through this budget will help the project progress to final investment decision in 2021.
Minister for Energy and Emissions Reduction, Angus Taylor, said as Australia recovers from COVID-19, it is critical that we invest in recovery.
“This is a key driver for our support for new energy projects in north and central Queensland that will bring down power prices, create jobs and keep the lights on,” Mr Taylor said.
“With up to 1,000km of high voltage transmission line between Mount Isa and Hughenden, CopperString will deliver 750 direct construction jobs and connect north Queensland with the National Electricity Market to help deliver lower cost power.
“Continued Commonwealth support will help ensure that this important energy project is delivered for the people of Queensland.”
Minister for Resources, Water and Northern Australia, Keith Pitt, said continued support for this project is a key part of the Federal Government’s broader commitment to central and north Queensland.
“Cheaper, more reliable power will help unlock the full economic promise of the North West Minerals Province and our important job-creating and export oriented regional industries,” Mr Pitt said.
“It is an important project to deliver a fair deal on energy for Australians while supporting our job-creating industries, and the Government is committed to supporting its continued development.”
Member for Herbert, Phillip Thompson, said he’d been advocating hard for funding for the project.
“I’ve never shied away from backing CopperString 2.0 because one of the biggest issues raised with me in Townsville is the cost of electricity,” Mr Thompson said.
“By connecting Mount Isa and Townsville we will set ourselves up for a future of more affordable power.
“At the same time we’ll be helping boost employment opportunities during construction when they’re so desperately needed, as we recover from COVID-19.”
LNP North Queensland-based Senator, Susan McDonald, said the project will open up major new economic opportunities for Queensland’s north-west.
“CopperString will help bring new projects online and deliver high paying jobs for north Queenslanders, both during construction and through the economic development opportunities it will create,” Ms McDonald said.
“This will help further unlock the vast potential of our region providing new opportunities to attract new investment.”