KENNEDY MP, Bob Katter says the future of the North West Minerals Province and 2-thousand plus jobs in Mount Isa and Townsville depends upon the construction of Copperstring, and he’s hopeful of loan funding for the project from the Federal Government in the budget.
Mr Katter has raised the issue of getting grid system power to Mount Isa as a priority in meetings this year with the Treasurer, Energy Minister and Prime Minister.
“On the issue of Copperstring, I’ve told the Government that if we do not get grid system power into the north west Minerals Province then $3.5b in income for this nation will vanish,” Mr Katter said.
“Two of the bigger operations in the North West cannot survive in my opinion unless they get competitively priced power. The grid system power will be a hell of a lot cheaper and more reliable than gas, which is the current arrangement.
“This country will lose arguably its biggest industrial base, and two large operations will vanish unless we get this funding. Copperstring aren’t asking for a grant or a hand out. They need a loan.” The Copperstring proposal needs $1.2b in funding, with Mr Katter of the belief that $700m will come from the NAIF (Northern Australia Infrastructure Facility) leaving a further $500m required.