The CopperString Project is a 1,000 kilometre high-voltage overhead electricity transmission line connecting the North West Minerals Province and Mount Isa to the National Electricity Market grid south of Townsville. The project proponent is CuString Pty Ltd.
The transmission line will run from a new sub-station at Woodstock, south of Townsville, to the Chumvale sub-station, near Cloncurry, then extends west to Mount Isa and south to existing and potential mining operations.
|Feb 2020||EOIs Open|
|Mar 2021||ECI contract awarded|
|Jul 2021||Expected Construction Commencement|
|Jul 2024||Expected Construction Completion|
The 2020-21 Federal Budget also provided up to $134.7 million over four years from FY2020-21 to increase transmission and generation capacity. An unspecified portion of this funding will be allocated to the CopperString project.
|Debt Finance:||Korea Zinc Company Limited|
|Tenderers (EOI/ROI):||CuString issued Expressions of Interest for engineering, procurement and construction contract in February 2020.|
Subject to completion of the ECI contract and achievement of approvals and financing, UGL and CPB Contractors are also the preferred contractors to deliver the EPC contract of the project.
|Jul 2019||The Northern Australia Infrastructure Facility announced it was undertaking due diligence for the project. The project proponent applied for a loan from NAIF for up to $1 billion.|
|Feb 2020||CuString requested Expressions of Interest for the delivery of the CopperString project.|
|May 2020||The Queensland Government announced conditional funding to accelerate project as part of government's COVID-19 economic recovery plan.|
|Oct 2020||The 2020-21 Federal Budget allocated an unspecified portion of funding to the CopperString project.|
|Jan 2021||The Federal Government announced funding support to progress the project to Final Investment Decision. The Queensland Government also announced a financing agreement with Korea Zinc Company Limited.|
|Mar 2021||CuString awarded the Early Contractor Involvement contract for the project to UGL and CPB Contractors. Subject to completion of the ECI contract and achievement of approvals and financing, UGL and CPB Contractors are also the preferred contractors to deliver the EPC contract of the project.|