Helium deposits discovered in the Free State could be worth R1.45 trillion

[mylesillidge]

Massive helium discovery in South Africa — an R8 investment that could turn into R1.45 trillion

Gas prospectors have discovered helium under a piece of land in the Free State that could be worth billions of dollars, AFP has reported.

Stefano Marani and Nick Mitchell, directors of renewable energy company Renergen, had natural gas in mind when they purchased the gas rights for the 187,000-hectare piece of land in 2012 for $1 (about R8 at the time).

 

[Gordon_R]

Parallel thread:

Natural gas prospectors strike it lucky with massive Free State helium find

VIRGINIA - In a grassy plain in South Africa, once the world's largest gold producer, prospectors have stumbled upon a new treasure: helium. Popularly known for birthday balloons and squeaky voices, helium plays an underappreciated role in medical scanners, superconductors, and space travel...

mybroadband.co.za

 

[Y'all Qaeda]

Can't be helium. The freestate would be floating and everyone would sound like Justin Bieber.

 

[lkswan747]

Well at least something positive for a change unlike the asbestos and Estina etc. saga's.
Let's hope the country benefits more from this than the politicians!

 

[DanDango]

They should check for helium under Grey Colleges. I have seen a video of Goosen kicking a 70m penalty and Stories of Frans Steyn in practice converting a kick to goal from his 22.

 

[LCBXX]

 

[KleinBoontjie]

Trillions of Rands of Helium discovered in South africa.........those 2 white guys better get their **** together, before the ANC comes knocking with those 51% ownership forms.

 

[etienne_marais]

No fracking, yay !

 

[Pineapple Smurf]

 

[Sarg3_ZN]

 

[dusi]

The company plans to have 19 wells installed by early 2022 and estimates it could produce roughly 7% of the world’s current helium.

Pretty impressive if that estimate is correct.

 

[Dan C]

They should check for helium under Grey Colleges. I have seen a video of Goosen kicking a 70m penalty and Stories of Frans Steyn in practice converting a kick to goal from his 22.

Bloemfontein is about 160km from there ...

 

[rodga]

R8? How?

 

[pinball wizard]

Well at least something positive for a change unlike the asbestos and Estina etc. saga's.
Let's hope the country benefits more from this than the politicians!

Like Ace and company aren't gonna **** us all over this?

 

[rodga]

R8? How?

OK I see it's for the gas rights, but still

 

[DreamKing]

Stefano Marani and Nick Mitchell, directors of renewable energy company Renergen, had natural gas in mind when they purchased the gas rights for the 187,000-hectare piece of land in 2012 for $1 (about R8 at the time).

I highly recommend they have to surrender their rights and leave asap .......

 

[Scooby_Doo]

What is the symbol on the periodic table of elements for BEE?

 

[Johnatan56]

Pretty impressive if that estimate is correct.

They'll probably be more than that sooner rather than later as it's quite pure and cheap.

My question is how they think it's worth $100bn, the entire global helium market is somewhere between $3 and $10bn a year depending on who you listen to, it's maybe $100bn if over 500 years or something for this source.

This line:

Experts expect a helium rush from private companies as reserves in the US are running out.

Is ignorant. The US stockpiled helium insanely for a few decades, then started selling them off in the 60s as no point in stockpiling as easy to get, in September 2021 the last of it was sold, and that caused a weird case of supply shortages due to transit issues as now lots of it is coming from Qatar, etc.

It's more a case of it is so cheap that near everyone gets it as a by-product while looking for natural gas. It will now go up in price quite a bit as no longer stable supply from US reserves, will be interesting.

Also there are deposits in Tanzania recently that are also found, the market has ample supply.

Great for them though, they will be millionaires, but not billions.

 

[Apogee]

Just noticed the logo has been photoshopped onto the jacket, and badly at that.

Is that common knowledge for this meme?

 

[susefan]

Will they need a BEE partner? I need some economic empowerment.