Helium One’s annual loss narrows as it seeks a Rukwa partner

Friday 13th November 2026

By inAfrika Newsroom

Helium One Global reported a smaller annual loss and said it was seeking a partner to fund field development at its Southern Rukwa helium project in Tanzania. The group’s comprehensive loss was US$3.41 million in the year to 30 June, compared with US$4.86 million a year earlier.

The group attributed much of the improvement to lower share-option expenses in its audited results published on 13 November. Administrative expenses fell to US$3.31 million from US$4.08 million. Impairment charges fell to about US$129,000 from US$1.49 million.

Cash and cash equivalents rose to US$6.55 million at the end of June, from US$3.15 million a year earlier. The group recorded no revenue from continuing operations during the financial year. Its outlook said its separate Galactica-Pegasus project in the United States had moved into helium production and sales.

In Tanzania, the company’s Southern Rukwa project is centred on the Itumbula discovery. A pump test reported in February measured the flow of water from the well and formed part of the appraisal. The annual results say the company is seeking a partner to fund field development there.

The Southern Rukwa project is separate from Rift Helium’s Upepo exploration project in the same basin, where a different company began a seismic survey on 10 November.

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