The Queensland Government will deliver the CopperString 2.0 project, unlocking Australia’s largest renewable energy zone and over $500 billion in new critical minerals in North Queensland.
CopperString 2.0 will link vast renewable wind and solar resources with critical minerals mining and processing in North Queensland, enabling more good, secure jobs.
“CopperString is the most significant investment in economic infrastructure in North Queensland in generations. 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,” Premier Annastacia Palaszczuk said.
Premier Palaszczuk stated that Townsville would become a global renewable manufacturing hub, with the largest renewable energy zone in the country and the world-class 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,” Premier Palaszczuk added.
Treasurer and Minister for Trade and Investment Cameron Dick said the recent constraints on Australia’s energy system have once again demonstrated the benefits of Queensland’s public ownership of its electrical assets.
“Our Queensland Energy and Jobs Plan makes clear that we will own 100 per cent of our transmission assets. This announcement delivers on that commitment,” Treasurer Dick stated.
Treasurer Dick added that the State Government could deliver on the commitment because at least $500 million of the cost is covered by the State’s new coal royalty tiers.
“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,” Energy Minister Mick de Brenni said.
Minister de Brenni stated that building the transmission line will unlock 6,000 megawatts of potential renewable energy in the North Queensland Renewable Energy Zone, generating more jobs and establishing a decarbonised resources sector from Townsville to Mt. Isa.
The $5 billion project’s preliminary work will begin this year, with construction set to begin next year.
According to the State Government, construction is planned to support 800 direct jobs over the next six years and thousands of new opportunities in critical minerals mining, manufacturing, and renewables construction.
“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,” Resources Minister Scott Stewart said.
Minister Stewart stated that Copperstring 2.0 would assist in developing critical minerals projects and the North West Minerals Province as a whole.
“This announcement is bigger than just Townsville and North Queensland, it’s a Eureka moment for the whole world,” Minister Stewart added.
Powerlink will lead work on the project.
