Pulsar Helium launches ambitious helium extraction project in Minnesota

In February 2024, experts identified a significant helium reservoir located on the Iron Range in Minnesota. This discovery was made in Babbitt, where underground mining revealed substantial helium resources deemed one of the most important in the world. Following this finding, Pulsar Helium, a company focused on helium extraction, announced plans to construct a processing facility that will enable the extraction and storage of helium gas on the surface. The projected plant’s design involves sophisticated equipment provided by Chart Industries, based in New Prague, which specializes in gas storage and processing systems. The facility will feature storage tanks adjacent to the production site to facilitate quick transfer of the refined helium to clients. It is estimated that the cost to design and construct this helium extraction plant could reach $50 million, presenting an important investment into the helium industry. The helium market is valued at approximately $3 billion, with its application extending well beyond blimps and balloons. Helium plays a critical role in various high-tech industries, including aerospace, semiconductors, welding, and medical imaging, notably as a coolant in MRI machines. With helium being a vital resource for these technologies, the rise in demand has led to heightened interest in its extraction from the newly discovered reserves. As the project moves forward, Chart Industries is expected to complete its design phase for the facility by spring 2025, with hopes of having the plant operational by summer 2026. By tapping into the helium reserves found in Babbitt, Minnesota, the project portrays a significant milestone for both the local economy and the global helium supply chain, answering an increasing need for this vital natural resource.