Helium In Northern Minnesota Could Bring Huge Economic Boom

We are sitting on a gold mine. Ok, so it's not gold, but it's very valuable helium. I've been following Pulsar Helium's Topaz project closely for the last couple of years, as they have discovered a huge helium deposit near Babbitt, Minnesota.

Iron Range Economy Ups And Downs

Growing up on the Iron Range in the 1990s, I was well aware of the economic struggles facing the region. I had friends' parents lose their jobs when the LTV mine in Hoyt Lakes closed, eliminating many high-paying jobs. The region is used to the ups and downs of the mining industry. Twin Ports shipping is also affected.

First New Iron Mine Since the 70s Opens

There has been some good news for the region, as Mesabi Metallics opened the first new iron mine since the 1970s. The new mine excitement was somewhat stifled after Mesabi Metallics decided to open up their new steel plant in Iowa, not Minnesota.

Read More: Mesabi Metallics Produces Patriot Pellet - What Is It?

Helium Industry Could Bring Economic Boom - If We Get It Right

The Pulsar Helium project could be a huge game-changer for industry and the economy in general in Northern Minnesota. Pulsar just announced they are planning to build a rare gas hub in Two Harbors. The hub will be used to process the helium and other gases from the Topaz project. According to Fox21, they say the plant will be one of the 5 biggest of its kind.

Drilling Has Never Happened Before In Minnesota

They're working with the state to get approval for full-scale drilling. So far it's all been exploratory, and there has never been drilling in Minnesota. That means we have to start from scratch for regulation and processes. I am hopeful that government bureaucracy won't slow down this potentially huge economic boom.

Helium Is A Rare Gas Vital For Our Future

Helium can't be artificially manufactured, at least not in a practical way. It's produced naturally from radioactive decay in the Earth's crust. There is increasing demand for helium, along with increasing shortages. With having one of the largest helium deposits in the world underneath our feet, we could be a landing place for industries and tech companies.

Helium Used In Aerospace, Semiconductors, Medical Equipment, And More

Pulsar President Cliff Clain sees a revitalization of current industry in the Northland from drilling helium.

Whether that's shipbuilding, aerospace, the new Minnesota national security ecosystem that's building up, folks like Northwind, Polar Semiconductors, Mayo Clinic- all these folks that use these molecules.  It just helps them become more competitive out there in a global environment, and you know, hey, who knows? You could have a semiconductor company now looking at Minnesota, or an aerospace company wanting to set up shop here in Minnesota."