Helium One Global Ltd. has finalised negotiations with the Tanzanian Government for the award of a Mining Licence for its Southern Rukwa helium project.
A new joint venture company, Songwe Helium Ltd., will be established with 83% owned by Helium One and 17% by the Government.
“We are delighted to have concluded negotiations and reached agreement with the Tanzanian Government negotiations team on all documents and associated agreements that are required to complete the formal award of the ML for the southern Rukwa helium project,” said chief executive Lorna Blaisse.
“This is the culmination of several years of intense activity and hard work that has included the drilling of several successful exploration wells, the discovery of helium resources, undertaking an extended well test and the filing of the ML application in September last year.”
Helium One chair James Smith, meanwhile, added: “This is a pivotal period in the company’s increasing maturity and growth.
“The last 18 months has seen exceptional progress as we have met a series of challenges with vigour and professionalism.
“Getting to this point would not have been possible without the continued support from the Government of Tanzania and I would like to take this opportunity to thank them as well as the local communities where we operate who have helped us and enabled us to deliver this project.”
