The US government just invested R600 million into a gas project in the Free State that promises to reduce the global shortage of helium

schumi

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  • Free State gas company Renergen just signed a R600 million loan deal with a US government agency to fund part of its development in Virginia.
  • Renergen wants to produce liquefied natural gas – and helium. Possibly quite a lot of helium.
  • The United States, with its high-tech resurgent space industries, is particularly vulnerable to a shortage of helium, which is hard to produce and store.
An agency of the United States government has agreed to lend it more than R600 million to build a gas plant in the Free State, the JSE-listed Renergen announced on Wednesday, shortly after the signing of the deal.
The agency, the Overseas Private Investment Corporation (OPIC), will lend Renergen $40 million over 12 years, at a rate linked to price of US bonds, making for what the local company calls an "efficient source of capital".
More at:
 

Gordon_R

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I read the article, but didn't post the link. I don't know any of the role players, so I'm still trying to figure out what can go wrong, or who will steal the money. Have I become too cynical?
 

surface

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How much will Ace get ?
Ace 10, CR -20, NEC - 40, Jamnadas - 5, rest will be divided among remaining ANC members. It seems all companies keep on losing money like this - not sure why they do like that. I suspect all these companies receive threats or something like that.
 

Sarg3_ZN

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How are they going to reduce the global helium shortage? The ANC and EFF are just full of hot air.
 

ForceFate

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How are they going to reduce the global helium shortage? The ANC and EFF are just full of hot air.
Why?

Only a handful of countries, including the USA, currently produce helium.
At its new target, however, Renergen could add around 5% to the global annual production of helium.
 

RedViking

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I read the article, but didn't post the link. I don't know any of the role players, so I'm still trying to figure out what can go wrong, or who will steal the money. Have I become too cynical?
Well is it private or government?
 

John Tempus

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So much for their mission to decolonize Africa. The US doesnt put money into other countries just because they like sharing it, it is an investment for them first and foremost.
 

Jola

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I read the article, but didn't post the link. I don't know any of the role players, so I'm still trying to figure out what can go wrong, or who will steal the money. Have I become too cynical?
No just realistic.
 

McSack

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So has OPIC actually "invested" in the Virginia gas project or has Renergen just taken out a loan? Can't see from the article that any equity is changing hands or that OPIC will have any influence/say in operations

..by those terms my bank manager has "invested" in my credit card abuse

... and the ZA taxpayer should consider themselves privileged to have been included in the "investments" at Eskom, SAA, SABC, Denel, et al...
 
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MidnightWizard

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I read the article, but didn't post the link. I don't know any of the role players, so I'm still trying to figure out what can go wrong, or who will steal the money. Have I become too cynical?
BIGGER find in TANZANIA

Nearly 100 billion cubic feet of helium found in Rukwa

In Photos: Massive Underground Helium Reserve Found in Tanzania

Huge underground helium reserve discovered in Tanzania

Looks like the Brits have got this one tied up ?
Perhaps the Americans prefer their OWN supply ?

The Virginia find is quite interesting -- the Gas that the Helium is part of is METHANE ( the LNG part of the story )
Be interesting to know the associated Geology

HELIUM (HE)

HELIUM ( Helios)
 

surface

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Isn't the company private?
Listed on JSE. I think this should calm some of the fears here. ;) I mean some of them will try to steal but some others will not let it happen.

 

SaiyanZ

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Even though this is purely due to the efforts of private individuals you can be sure that Cyril and the ANC will add this to their tally of "investments they have brought in".
 
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