Queensland first FNQ water auction

Ten Far North Queensland farmers and businesses were able to secure thousands of litres of additional water, which will be used to ramp up their operations and in turn boost the local economy as a result of the state’s first live auction of unallocated water.

Minister for Natural Resources Mines and Energy Dr Anthony Lynham said the auction at Edmonton provided a fair and efficient way to get the unallocated water flowing to where it could best be used.

“Led by a professional auctioneer, bidding started strongly, with the first 17 lots meeting the reserve price.

“Out of a total of 1200ML, 950ML of unallocated water was sold to nurseries, horticultural businesses and farmers, at an average of $650 per megalitre.

Dr Lynham said the successful bidders were to receive their water licence within 30 business days of the auction.

“This means they can get on with business.’’

Dr Lynham said the live auction complimented the goals of World Water Day, which is celebrated across the world today.

The theme for World Water Day this year is Nature from Water.

“On World Water Day we have the opportunity to appreciate water sources and discuss how we are going to manage our water supplies into the future,’’ Dr Lynham said.

“What makes the auction so appropriate to World Water Day is that the 1200 megalitres which went under the hammer were from the Mulgrave-Russell groundwater management area,’’ Dr Lynham said.

“The 1200 megalitres was from the reserves of unallocated water identified in the Wet Tropics Water Plan.

“One of the key planks of the Wet Tropics Water Plan is to provide a framework for sustainably managing water and the taking of water, just as World Water Day promotes using nature to overcome water challenges.’’

 “Strict requirements were placed on prospective bidders at the auction at Edmonton in far north Queensland, including details of how they would meet industry best practice.

 “This has provided a welcome economic boost for local businesses.

 “Sustainability is at the heart of Queensland’s water planning process and I’m pleased that the auction’s success means we will get the best outcome from each and every drop.”

 For more information about the Mulgrave-Russell Groundwater Management Zone Water Auction www.business.qld.gov.au.

Media enquiries: David Potter 0428 411 617