Helium One Global (AIM:HE1) executed the Framework Agreement and Shareholders' Agreement with the Government of Tanzania at a signing ceremony on 2 May, formalising the Mining Licence for the southern Rukwa Helium Project.
The 480km2 licence, the first helium licence awarded in Tanzania and the largest mining licence area granted in the country, was originally awarded in July 2025 and brings the project into full appraisal and development after the 2023/24 drilling campaign that proved a helium discovery at Itumbula West‑1 and an extended well test that flowed 5.5% helium to surface in Q3 2024, and Helium One is the primary helium explorer in Tanzania (AIM: HE1) with a 50% working interest in the Galactica‑Pegasus project in Colorado.
"This event marks a historic milestone for both the Company and for the Government of Tanzania," said Lorna Blaisse, Chief Executive Officer.
The executed agreements establish the joint venture company Songwe Helium in which Helium One holds an 83% interest and which now holds the southern Rukwa Mining Licence.
Helium One has appointed PVE Consulting, an international advisory firm with more than 20 years' upstream experience, to lead the farm‑out process and to progress discussions with potential industry partners to secure external investment to advance appraisal and development.
The company said it will now progress the farm‑out programme and drive the southern Rukwa Project into appraisal and development.
