Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has submitted an application for a mining licence in Tanzania for the southern Rukwa helium project.
The application was submitted to the Tanzanian Ministry of Minerals and Mining Commission and includes a detailed feasibility study covering subsurface modeling and a commercial development plan.
An environmental and social impact assessment (ESIA) study has also been completed and is now awaiting approval from the National Environmental Management Council.
Chief executive Lorna Blaisse described it as "yet another milestone" as the project continues to advance towards development.
“The last 12 months have been a very significant chapter for Helium One in which we have made a successful helium discovery, completed a detailed feasibility study, established a commercial development plan and successfully applied for a mining licence,” Blaisse said in a statement.
“An extraordinary achievement within that timeframe and I am very grateful to the efforts of everybody involved.
“We very much look forward to progressing the project in Tanzania through to production, as well as remaining opportunistic on further opportunities in-country and elsewhere.”
Also, the company reported the expiration of 888 square kilometres of prospecting licences (PLs) that are either non-prospective or difficult to access.
This will result in an annual cost saving of US$177,600 in license fees. Helium One continues to retain 286 square kilometres of licences in the Eyasi Rift Basin, which remain under review for helium potential.
Blaisse, meanwhile, highlighted Helium One’s diversification, and it advancing prospects in the United States.
“We are also entering a very busy period with our joint venture with Blue Star Helium in Colorado where we look forward to completing the acquisition and starting the drilling phase of the upcoming development wells on the Galactica-Pegasus project.
“We look forward to providing updates on the progress of the drilling programme in due course.”