The $1.7 billion CopperString 2.0 project is edging closer to construction, having secured a $17 million financing agreement with Korea Zinc Company Limited.
CopperString 2.0 is a high-voltage transmission line that will connect the people and communities of Mount Isa and the North West Minerals Province to the National Electricity Grid.
Once completed, it will supply electricity to existing customers in North West Queensland and deliver opportunities for new industrial facilities and large agricultural and renewable energy projects.
Yun Choi, Vice Chairman of Korea Zinc, said the project would strengthen the industrial and clean energy ecosystem across the Townsville to Mount Isa corridor.
“This regional economic development opportunity is important to Sun Metals and Korea Zinc, and is a strong element of our interest in supporting the CopperString project,” Mr Choi said.
“We look forward to continuing our collaboration with the Palaszczuk Government and CopperString in relation to minerals processing, renewable energy and hydrogen development.”
Deputy Premier Steven Miles said the project had the potential to be ‘the most transformative project’ for the North Queensland economy since the construction of the Great Northern Railway reached Mount Isa in 1929.
“It will transmit energy for new industries and that means supporting new mining, minerals processing and industrial jobs to support development in renewables,” the Deputy Premier said.
The project is expected to create around 750 new full time jobs during construction and approximately 30 operational and maintenance jobs ongoing.
