By
20 min ago 2 min read
Saskatchewan’s latest helium rights offering has raised CAD $4.9m ($3.48m), bringing combined revenue since its launch in June to CAD $23.3m ($16.55m).
This represents an increase from the Canadian province’s , which raised CAD $2.5m ($1.8m). However, it remains down from the CAD $15.9m ($11.1m) raised in the and is a sign of more cautious bidding for helium rights.
The weaker result comes despite a surge in demand for helium rights earlier this year, when global supply chain issues linked to geopolitical instability in the Middle East heightened interest in securing new helium sources.
All eight permits available for bidding on 6 November were awarded, covering a total area of 208,839 hectares, according to Saskatchewan’s Ministry of Energy and Resources.
The largest individual bid came from Millenium Land, a company specialising in lease acquisition and environmental management for energy, which offered around C$1.19m ($850,614) for a permit southwest of Moose Jaw.
It bid a total of approximately CAD $3m ($2.1m) on five permits, covering a combined area of 106,354 hectares.
The other successful bidder was land and environmental consultancy Synergy Lands Services, which bid around CAD $1.9m ($1.34m) for three permits covering a total area of 102,484 hectares.
Under the new system, companies bid competitively for permits to explore for and develop helium and associated gases, replacing a less structured approach to acquiring these rights.
The government says the process is intended to make access to mineral rights more transparent and competitive while supporting further investment in the sector.
The latest offering is part of Saskatchewan’s broader push to across the helium value chain, from exploration and production through to processing and export.
The next helium and associated gases public offering will be held on 5 April 2027.
