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A private southwest Saskatchewan facility that will produce and sell purified helium is being promoted by the provincial government as evidence of Saskatchewan’s leadership as a supplier of necessary resources.
“Saskatchewan has the natural resources the world needs, and it is important we continue providing a competitive investment environment to attract projects such as this that will create jobs in our communities, grow our economy and build a strong Saskatchewan,” Doug Steele, the Cypress Hills MLA, said in a news release.
“This facility will create and support local jobs, enable the province to scale up helium production, and grow export capacity,” Energy and Resources Minister Bronwyn Eyre added in the release.
“It will also further diversify our natural resource sector and position Saskatchewan as a leading supplier of a critical element that the world needs.”
North American Helium has a facility near Battle Creek, which the company says on its website is anticipated to be complete this month. The Calgary-based company has acquired the rights to explore for and produce helium in Saskatchewan as well as Utah and Arizona.
Its Saskatchewan project was approved by the province for a 15 per cent transferrable royalty credit, based on capital expenditures by new or expanded gas processing and liquefaction facilities through the Oil and Gas Processing Investment Incentive (OGPII) program.
Helium is considered a critical mineral that is used in medical research, semiconductor manufacturing, space exploration, fibre optics, and advancements in nuclear power generation. Increased global demand and a shortage of supply has caused prices to climb by more than 160 per cent since 2017.