Mining magnate Gina Rinehart has proposed gifting an island in Australia to Elon Musk at no cost, aiming to attract SpaceX's satellite construction and launch operations to Queensland. The suggestion was made during the National Bush Summit in Townsville on June 18, where Rinehart emphasized the economic potential for North Queensland.
"What industries should we try to attract? Well, what about the world's best microchips? What about Elon Musk's communication satellites?" Rinehart stated. She added that sparsely populated islands could be offered to Musk for his SpaceX ventures, envisioning rocket launches and satellite operations creating tourism opportunities.
Queensland Premier David Crisafulli has not dismissed the proposal, leading to speculation about potential island sites. Realestate.com.au has identified four remote and uninhabited islands as possibilities. Among them is Toogoom Island, a 28-hectare private island that has been on the market for 17 years. It features a 900-meter aircraft runway, a helipad, deep-water jetty infrastructure, and a solar power system.
Another potential location is Clairview Island near the Capricorn Coast. This 267-hectare island includes two private runways, seven kilometers of beachfront, and a Cessna 206 aircraft. It is listed for $6.9 million and is described as large enough to accommodate high-tech infrastructure.
Stone Island, located near the Whitsundays, is a 92-hectare site advertised as having potential for an airstrip, along with a new ocean wharf and pontoon. While it lacks an existing runway, its infrastructure could be developed.
Wedge Island, also near the Capricorn Coast, is offered as a more affordable option at $2.4 million. This 9.3-hectare property includes an all-weather mooring, a 40kva solar system, and accommodation for ten people.
Rinehart's proposal follows her recent acquisition of a significant stake in SpaceX, reportedly worth about $1.4 billion. This investment represents Hancock Prospecting's largest venture outside of its iron ore business. "We see SpaceX as a rare business: led by a truly exceptional person, technically exceptional and operating in sectors that are crucial, and with long-term potential," Rinehart commented on the investment.