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Tanzania helium find offers hope for worldwide shortages

For those losing sleep over worldwide helium shortages, salvation may soon be at hand.

Building on geological research over half-a-century old, subterranean gas seeps in southwestern Tanzania could yield enough helium to be a game changer in the world market.

It’s a gamble that has Lisbon-based Helium One going all-in, with observers speculating their efforts in the East African nation’s Rukwa basin could bolster the world’s struggling helium supply.

“Well, hopefully we’re the solution,” Neil Herbert, chairman of Helium One, said with a laugh in an interview last week with the Toronto Sun.

“There’s a lot of frustrated demand. We’re frequently contacted by end users and intermediaries to get a hold of it,” he explained.

“For long-term users of helium, getting supply from intermediaries means they’re only getting somewhere around 70 to 80% of what they need.”

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.