THE Queensland government’s four-year $80m Mount Isa Line subsidy is set to boost minerals freight exports and support regional jobs.
Premier Annastacia Palaszczuk visited the Mount Isa Line this week and said the Queensland Government’s investment would support the growth of the mining industry in the state’s north-west.
“We know how important the North West Minerals Province is to the resources sector and how important that sector is for regional employment, exports and economic growth,” Ms Palaszczuk said.
“In the year to September 2019, Queensland’s exports topped $87.6bn.
“Investing in this region, where 75% of the state’s base metal and mineral deposits are, is crucial to growing this figure and supporting local jobs.”
Deputy Premier and Treasurer Jackie Trad said the Mount Isa Line Incentive Scheme would make rail freight more competitive and incentivise a shift from road freight to rail.
Ms Trad said the rail payments would be paid to eligible participants on a quarterly basis.
“The Mount Isa Line is critical for servicing the mining industry and this investment will help existing mining operators get their resources to the Port of Townsville for export as well as encourage new investment in the state’s north-west,” Ms Trad said.
“We have made significant repairs on the 300km of track on the Mount Isa Line damaged during February’s unprecedented flood event, to ensure that north-west Queensland has reliable transport infrastructure.”
Transport minister Mark Bailey said the scheme was a win for the north-west’s economy and would provide certainty to companies who relied on the route.
“These upgrades have reduced freight travel times between Mount Isa and Townsville by 50 minutes, significantly improving efficiency and increasing capacity, which is great news for our regional exporters,” Mr Bailey said.
