Call to fast-track projects, build investor confidence

Townsville Enterprise is calling on the State Government to fast-track projects like CopperString into construction to help build investor confidence in light of Glencore's Mount Isa copper closure plans. Ahead of the Community Cabinet in Townsville, the peak economic development body wants to see the 2023 Budget commitment of $594 million for early CopperString works coming into play. "It is the crucial time to provide confidence to new investors that affordable electricity is on its way in our region to enable new mines, processing and creating new jobs for our skilled workers in renewable and critical minerals industries, the economies of the future," Townsville Enterprise CEO Claudia Brumme-Smith said. "Investor confidence must be the priority for all of us now. The advancement of early works for the region’s once-in-a-generation power project is the first step. "We need to see boots on the ground and fast-tracked, locally focused procurement. “We urge the Queensland Government to fast-track the early works for CopperString; critical infrastructure that is needed now more than ever to sustain our current mining and processing industry. There is no reason to delay." Glencore has announced plans to close its Mount Isa Mines underground copper operations and copper concentrator in the second half of 2025, affecting about 1200 roles. With the recent federal government announcement to expand the existing Critical Minerals Facility with an additional $2 billion in financing, Ms Brumme-Smith said timing was right for the CopperString transmission project. It would act as a catalyst to open new pathways for projects such as the Queensland Pacific Metals (QPM) critical minerals refinery at Lansdown Eco-Industrial Precinct, near Townsville, she said. “Getting shovels in the ground for CopperString as soon as possible will mean Townsville becomes the hub of critical mineral processing with four world-class refineries – well and truly putting north Queensland in the driving seat to secure the renewable future for Australia,” Ms Brumme-Smith said. Powerlink, alongside construction partners UGL and CPB, has released 40 works packages for suppliers to express their interest in working on the $5 billion CopperString 2032 project. A series of roadshows has been rolling out across north and north-west Queensland to give local suppliers and contractors a chance to learn more and meet the project team. (Details here Charters Towers, Burdekin and Townsville events this week.)

Call to fast-track projects, build investor confidence

Industry Queensland

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