Tanzania can become a globally significant supplier of helium amid a supply deficit worsened by the Russia-Ukraine war, Helium One CEO David Minchin tells The Africa Report.
The element, which occurs naturally as a colourless gas, is used for a range of hi-tech applications such as magnetic resonance imaging (MRI) scans, satellite instruments, semiconductor manufacturing, fibre-optic cables, rocket launches and assisted breathing in hospitals. If hospitals run out of it, Minchin says, Covid-19 death rates would increase.
Helium One Global Ltd (LON:HE1) focus is to explore, develop, and ultimately, become a producer of high-grade helium for the international market, a critical material essential in modern technologies. The company holds 4,512km2 of exploration licences in highly prospective helium provinces in Tanzania. The Company holds 100% of these licences and has exclusive rights to develop the assets.