MANKOTA, SK, Feb. 25, 2016 /CNW/ - Weil Group Resources, LLC, is constructing a new $10 million helium processing facility in Saskatchewan, Canada to supply refined, industrial-grade helium to markets throughout North America. The plant was designed and supplied by Germany's Linde Group, a global leader in industrial gasses, and is slated to come on stream in April.
The facility will purify inert gas from existing wells to a "Grade A" industrial helium product (99.999 percent purity) with a capacity exceeding 40 million cubic feet per year of production. Global use of helium is ~6 billion cubic feet a year. Refined helium will be loaded into tube trailers and transported to customers in Canada and U.S. destinations.
Helium uses range far beyond balloons and blimps, its unique qualities have applications in science, medicine and manufacturing. Its ultra-low boiling point makes it an ideal coolant primarily for MRI machines, as well as a critical resource in semiconductor chip and fiber optic cable manufacturing.
Saskatchewan's Ministry of the Economy worked closely with Weil to advance the project, including navigating provincial regulatory and permitting processes and addressing any barriers.
"Weil Group's helium project will help redevelop an industry that has been inactive in our province for almost 50 years, serving as one of many examples of our province's diversified economy," Economy Minister Bill Boyd said. "We are committed to removing barriers to growth to create an environment where investment and opportunity can reach their greatest potential."
Weil Group CEO, Jeff Vogt, sees a bright future in the redevelopment of the helium industry in Saskatchewan. "We are excited to play a part in this pioneering industry in Canada. It has been a pleasure to work with the provincial government, whose responsiveness and support have helped make this project a reality. We welcome being a part of the Saskatchewan community."
Weil Group's helium project is situated near Mankota, Saskatchewan, ~150 km southeast of Swift Current. Weil acquired and reentered the wells in 2013 and, after extensive testing, validated sufficient helium reserves for commissioning its facility. The southwest region of Saskatchewan has several wells with higher helium concentrations, which combined with their widespread distribution indicates the potential for further exploration and development.
The Saskatchewan plant is one of several helium exploration, development and processing projects Weil Group has, including those in Alberta and the U.S. that are at various stages of development. The facility will create several permanent jobs in operations.
About Weil Group Resources
Weil Group Resources, LLC is headquartered in Richmond, Virginia and serves as a holding company for our spectrum of global energy and resource projects. Weil Group is active in the Northwest United States and Canada and has had prior projects in Colombia, South America and throughout the Philippine archipelago. The Company's mission is to discern value in undeveloped or under-developed natural resource assets.
SOURCE Weil Group Resources, LLC
For further information: Scott Cardozo, Chief Financial Officer, Weil Group Resources, LLC, Richmond, Virginia 23220, 804-643-2828 (o), 804 380-8534 (c), firstname.lastname@example.org