Helium Exploration Rolls Along Near the Boundary Waters

Minnesota Helium Deposit Draws Attention After Mining Ban Lift

Pulsar Helium Inc. appointed Cliff Cain as president on April 1 to lead its Topaz Project near Babbitt, Minnesota, as the company advances toward production of one of the highest-grade helium discoveries on record. The site reported helium content of up to 13.8 percent, according to Pulsar.

The project gained clarity in recent weeks after H.R. 140 passed the U.S. Senate 50-49, lifting a mining ban that had affected a swath of northeastern Minnesota near the Boundary Waters Canoe Area Wilderness. Minnesota Congressman Pete Stauber, who authored the bill, told the Ely Echo the legislation would help not only the proposed Twin Metals mine but also Pulsar’s expansion plans. “The mining ban affected their expansion as well,” Stauber said. He added that other Congressional representatives reacted with surprise when he mentioned the helium deposit.

The Topaz site sits near Highway 1 and Lake County Highway 2, close to Isabella and the area burned in the 2021 Greenwood Fire. A team of researchers first discovered helium at the location accidentally in 2011 while looking for copper and nickel.

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Minnesota has no regulatory framework in place for helium extraction. State Senator Grant Hauschild introduced legislation in 2024 to establish royalties on helium exploration and production, but the bill stalled. State officials are now working to develop comprehensive policy for helium and similar gases. The scramble reflects the fact that, until recently, no one expected commercial helium activity in the state.

Deposits near the Boundary Waters have circulated among industry insiders, regulators and politicians for more than two years. The conversation has remained low-key. Now that federal restrictions have lifted, the discussion is shifting from geology to permitting and offtake.

Helium demand spans multiple sectors. MRI scanners, spacecraft fuel systems, fiber optic cables, technical diving, nuclear fusion and quantum computing all require the gas. Semiconductor fabrication, aerospace and medical imaging drive the bulk of upstream demand, though spot prices and long-term contract terms remain volatile as new supply sources come online worldwide.

The U.S. Department of the Interior notes that helium is the second most abundant element in the universe after hydrogen, but concentrations economical to produce remain rare. Pulsar’s reported 13.8 percent content places the Topaz Project among the world’s richest known helium fields by grade, a figure that, if confirmed through further drilling and testing, would support low-cost extraction even before considering crude helium purification and liquefaction costs.

Minnesota regulators face the challenge of setting royalty rates, environmental standards and production reporting requirements for a commodity the state has never produced. Pulsar’s appointment of Cain as president signals the company intends to move the project forward as policy catches up with exploration results.