Cameron Dick
A $33.3 million investment for North West Queensland includes funding for cobalt exploration for EV batteries, drone testing and freight.
The newly released North West Queensland Economic Diversification Strategy Implementation Plan 2019–2021 sets out actions to deliver 13 diversification initiatives, state development minister Cameron Dick says.
“Together, we have done the necessary work to develop a blueprint and a strategy to understand, investigate and prioritise initiatives that will diversify and grow the economy. This implementation plan is the culmination of that strategic work.
“Importantly, it is backed by significant funding of $33.3 million – $5 million through the blueprint, plus a further $28.3 million of new funding to deliver key initiatives that will boost jobs and prosperity for the region.”
That includes $14.5 million for Australia’s first commercial drone-testing facility, to be built by the Queensland Government at Cloncurry Airport and scheduled to open mid-2020.
“Mineral resources will continue to be the mainstay of the North West economy, and the implementation plan sees an ongoing and expanded commitment to drive exploration activities and attract new investment through a new economy minerals package,” Dick says.
“This includes $13.8 million to encourage exploration to find new deposits for the minerals needed for advanced electronics and renewable technologies, such as cobalt and rare earth minerals, for which global demand is set to increase.
“Alongside this, our government is continuing to grow the region with the $110 million Supply Chain Strategy to improve freight handling and efficiency on the Mount Isa to Townsville rail line.
“This investment provides $80 million to reduce rail access charges over four years and $30 million to support construction of Port of Townsville’s new container terminal.”
The implementation plan details the roll-out of initiatives over the next two years.
Total investment in the region is $170 million, including the $110m supply chain strategy and the $39m Strategic Blueprint, with an additional $28.3m of new funding to drive strong and prosperous industries, businesses and communities.
Visit www.dsdmip.qld.gov.au/NWMP for more information.
