North American Helium Inc. has announced several updates today, reinforcing its commitment to expanding its business. This includes the intention to establish two additional helium purification facilities in Saskatchewan.
Mr. Nicholas Snyder, Chairman and CEO, expressed his enthusiasm, stating, “We are thrilled to continue augmenting our production of reliable and sustainable helium supply in North America.
Despite the recent alleviation of the global shortage, significant risks persist concerning other global helium sources.
Challenges in shipping from the Middle East and the impact of sanctions and trade restrictions affecting potential supply from Russia underscore the significance of non-hydrocarbon helium sources produced in a secure jurisdiction.”
Mr. Snyder emphasized, “Earlier this month, the US Bureau of Land Management (“BLM”) accepted a bid for the remaining assets of the diminishing federal helium reserve.
This signifies the conclusion of an era, as the US Government’s involvement in the helium business over the past three decades has played a pivotal role in maintaining low prices, furnishing additional supply from storage during shortages, and mitigating volatility across the supply chain.
Looking ahead, we foresee a heightened focus on supply security from stakeholders throughout the value chain. I am proud of our team’s continuous efforts to amplify our production, enhance the reliability of our logistics, and assist our customers as they navigate an increasingly uncertain world.
Substantial investments planned in the semiconductor industry are anticipated to drive a substantial surge in the rate of helium demand growth, and our Company is poised to invest in our business to ensure we can cater to the expanding needs of our customer base.”
NAH is presently in the process of constructing two new helium purification facilities in southwest Saskatchewan, elevating the total number of helium facilities under its operation to nine.
One of these facilities will constitute an expansion of the Cadillac plant established in 2023, spurred by additional exploration success in the vicinity of Ponteix, Saskatchewan.
The construction of this new facility on an existing plant site further underscores the Company’s commitment to minimizing its environmental footprint. Expected to commence operations in Q2 2024, the new facility is projected to augment total production from the Cadillac area by approximately 33%.
