Business
14 May, 2025
QIC address concerns of CopperString mayors
The Queensland Investment Corporation spoke publicly for the first time since being handballed the CopperString project.
Private investment could be the key to shoring up the future of CopperString – especially the link between Hughenden and Mount Isa.
North West mayors last week heard from Powerlink and the Queensland Investment Corporation about their immediate plans for the project. It was the first time QIC had addressed stakeholders since Treasurer and Energy Minister David Janetzki tasked it with delivering the Western Link section of the project while giving taxpayers the best bang for buck.
“The Queensland government has appointed QIC to complete an accelerated commercial project assessment of CopperString,” QIC infrastructure manager Wade MacRae said.
“What that means is we have started a full analysis of the Western Link to identify an option that delivers the best economic value for the North West.
“As the state’s investment advisor, QIC brings long-term capabilities in planning, developing and managing energy infrastructure projects.
“Core to what we do is also considering commercial models that can leverage private sector investment to maximise value for Queenslanders, and that forms part of the CopperString assessment now under way.”
Mayors at the North West Queensland Regional Organisation of Councils (NWQROC) meeting said they walked away cautiously optimistic.
“Even though it’s early days for QIC, what I heard from them gives me some confidence,” Cloncurry mayor Greg Campbell told North West Weekly.
“They’ve been tasked with reviewing the whole scope, so from procurement, the thought process, the economics, but they seem to understand that core reason for doing the project in the first place is to get reasonably priced wholesale electricity into the North West Minerals Province to support growing new mines or expanding mining in the North West.”
McKinlay Shire mayor Janene Fegan said there was still a bitter taste after the Crisafulli government ripped up plans for the project just as work was about to start from Hughenden to Richmond and Julia Creek.
“We’re disappointed because we feel there’s been a lot of work done out this way,” she said.
“Even though (QIC) is trying to see what investment can be made in the region, it’s sort of a chicken-and-the-egg situation.
“You wamt to see the investments but you actually need the infrastructure to do it.”
Mount Isa mayor Peta MacRae said she believed that private investment was the likely path forward for CopperString.
“I think it is the likely outcome,” she said, expressing her frustration that projects were now being questioned because of new delays.
“When we were developing our plans, CopperString was an assumption and once again the pieces have moved and the game has changed.”
Mr MacRae (no relation to the Mount Isa mayor) said it was good to get feedback from the leaders at NWQROC.
“Nobody knows their patch better than local mayors, representatives and residents, and that was very much evident at the NWQROC meeting,” he said.
“They are tapped into every economic development opportunity available in their region, and continuing to hear directly from them will be invaluable to ensuring QIC’s assessment reflects the individual needs of communities right across the CopperString project.”
There is still no timeframe for the Western Link, with work to begin on the Eastern Link early next year.
CopperString project director Tom Dockray said the company remained focused on its task.
“Powerlink’s focus is on progressing works between Townsville and Hughenden while QIC undertakes an analysis of options to deliver the best economic value on the project between Hughenden and Mount Isa,” he said.
“We will continue engaging with communities, industry and other stakeholders as this work continues.”