Helium has been discovered by scientists and researchers in Minnesota’s Iron Range, according to CBS News Minnesota. Scientists and researchers called the findings a “dream discovery,” as a drilling confirmed a high amount of helium reportedly buried 2,200 feet in the earth on Thursday, Feb. 29.
The next steps in the process are for a third party to reportedly come in and do a feasibility study. The researchers will study the size of the hole. According to CBS News, the study may take up to a year to release the results.
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CBS News Minnesota reported that the scientists who made the discovery found more helium than they expected. They told the news outlet that they found 12.4% helium in the well, which is around 30 times greater than the industry standard. Geology.com reported that U.S. natural gas fields can contain up to 7% helium, so this is well above average.
Helium is a valuable element found in rocket fuel, used to cool nuclear reactors and even used in MRI machines, according to The New York Times. Helium is also so rare that when it was first discovered in 1868, some scientists still doubted helium’s existence.
That’s why speculation by scientists and researchers turned into jubilation when it was reportedly confirmed that helium had been discovered at an amount 30 times greater than the commercial industry average.
The discovery comes as NBC News recently reported a helium storage facility in Amarillo, Texas — once the world’s largest supplier — may be sold off, as its future remains uncertain.
