Member Info for Toffers

Companies like Linde plc, Air Products and Chemicals, and Air Liquide need reliable long-term helium supply.

High helium concentrations mean:

smaller processing plants

lower purification costs

potentially higher profit margins.

That’s why the Rukwa basin discovery has attracted attention among helium specialists.

Helium One’s reported grades

Exploration at the Rukwa Basin in Tanzania has reported:

~5% helium in some well tests

surface seeps up to ~10% helium

Those numbers are very high in the helium industry.

Even if production wells average lower grades (which usually happens), it could still be a high-quality helium resource.

Most helium is actually produced as a by-product of natural gas production. In these fields the helium content is usually quite low:

Typical ranges:

0.1% – 0.3% helium → common in many natural gas fields

0.3% – 1% helium → considered economically interesting

1%+ helium → very attractive

For example, parts of the Hugoton Gas Field in the United States historically produced helium at roughly 0.3–0.7% concentrations.

But with two exceptions, kread and blubay

Has someone got wind of news? or just wind?

:):)xx

February 2026 - Linde's Board of Directors has declared a 7% increase in the company's quarterly dividend to $1.60 per share.

This marks the 33rd consecutive year of quarterly dividend increases on the company’s common stock. #LindeIsEverywhere

Tarra for now!

Catch up later :)

Linde’s technology advantage

Helium production requires specialised separation and purification plants.

Linde is a global leader in building this equipment.

So a project might look like:

Helium One produces raw gas

Linde builds the helium processing plant

Afrox distributes the helium in Africa

Excess helium is exported globally through Linde.

5. Strategic advantage over competitors

If Linde secures supply from a Tanzanian field, it would:

diversify supply away from traditional sources

reduce exposure to geopolitical risks

gain early access to a new helium basin.

Helium discoveries in the East African Rift region are attracting increasing industry attention.

African Oxygen Limited (commonly called Afrox) is a major industrial gases company in Africa and a subsidiary of Linde plc.

What the company does

Afrox manufactures and supplies industrial, medical, and specialty gases along with welding equipment and related products.

Typical gases they produce and sell include:

Oxygen

Nitrogen

Argon

Helium

Medical gases for hospitals

Specialty gases for laboratories and electronics

They also supply:

Welding equipment and consumables

Gas cylinders and bulk gas systems

Liquefied petroleum gas (LPG) and related equipment.

Where it operates

Afrox is headquartered in Sandton, South Africa, and operates across many countries in sub-Saharan Africa.

Countries include:

South Africa

Namibia

Mozambique

Zambia

Tanzania

Angola

Uganda

Ghana

Democratic Republic of Congo

It also manages some regional operations for Linde in additional countries.

History

Founded in 1927 in South Africa.

Listed on the Johannesburg Stock Exchange in 1963.

Later became part of the global industrial gas giant Linde.

Today it is considered sub-Saharan Africa’s leading supplier of gases and welding products.

Why it matters in the context of Linde

Afrox is basically Linde’s African operating arm. Through it, Linde can:

sell industrial gases to African industries (mining, manufacturing, healthcare)

distribute helium and specialty gases

support large industrial projects across the region.

So when people talk about Linde expanding in Africa, much of that expansion happens through Afrox.

Yes — Linde plc is gradually expanding its presence in Africa, though it’s doing it selectively rather than aggressively. Most of its growth is focused on South Africa and emerging energy projects across the region.

Here are the main ways it is growing there:

1. Industrial gases business through Afrox

Linde operates in Africa mainly via its subsidiary African Oxygen Limited (Afrox).

Afrox:

Supplies industrial gases (oxygen, nitrogen, argon, helium)

Serves mining, healthcare, chemicals, and manufacturing sectors

Has production facilities and distribution networks across southern Africa

Linde has invested in upgrading gas production and specialty gas facilities in Johannesburg to serve growing demand in sub-Saharan Africa.

2. Helium production projects

Linde has already shown interest in African helium sources, which is relevant to your earlier question about Helium One.

For example:

Linde partnered with Renergen Limited to develop the Free State helium and natural gas field in South Africa.

Linde provides the helium extraction technology and holds distribution rights for the helium produced.

That project is important because:

Helium supply globally is tight

Africa may host new helium basins.

3. Green hydrogen and ammonia projects

Linde is also positioning itself in Africa’s emerging green energy sector.

One major example:

A $4.6 billion green ammonia project in Nelson Mandela Bay in South Africa.

Developed with Hive Hydrogen and Built Africa.

Planned capacity: ~780,000 tonnes per year of green ammonia.

The logic is that southern Africa has:

excellent solar and wind resources

ports for exporting hydrogen-based fuels to Europe and Asia.

4. Why Africa matters to Linde

Africa is attractive for three strategic reasons:

Natural resources

Helium

Natural gas

renewable energy for hydrogen

Industrial growth

Mining and chemicals industries require large volumes of industrial gases.

Export energy hubs

Europe is looking to import green hydrogen / ammonia from regions like southern Africa.

Bottom line:

Yes — Linde is growing in Africa, but mainly through:

South Africa–focused industrial gas operations

helium supply partnerships

large green hydrogen/ammonia projects

This is partly why analysts sometimes speculate that Linde could be interested in new African helium discoveries like Helium One’s Tanzania project.

I find it really useful as a daily aide memoire and as to why I'm actually invested here and very confident in the future of helium supply and demand in general.

To anyone I annoy, I make no apology!

A company like Linde plc could be interested in Helium One Global for several strategic reasons tied to the helium supply chain. In short: Linde is a major helium distributor and processor, while Helium One is trying to become a new upstream source of helium. Here’s why that combination can be attractive.

1. Securing new helium supply (the biggest reason)

Linde is one of the largest global suppliers of helium, with processing plants, storage caverns, and distribution infrastructure worldwide.

However:

Helium is produced in very few places globally

Supply disruptions happen regularly

Demand is rising fast (semiconductors, space, MRI, etc.)

A company like Helium One offers new primary supply.

Why Helium One specifically

Helium One’s flagship Rukwa project in Tanzania:

Large license area (~480 km²)

Helium discovery flowing ~5.5% helium to surface in tests

Near-surface helium concentrations up to 10.4% in seeps

Those grades are very high for helium, making it attractive to buyers.

For Linde, investing or partnering would mean locking in future supply.

2. Vertical integration for Linde

Linde’s core strengths are:

Gas processing

Liquefaction

Logistics and distribution

But they often don’t own the raw gas fields.

By partnering with or acquiring upstream assets like Helium One:

Linde controls more of the value chain

Reduces dependence on third-party producers.

This is similar to how industrial gas companies sometimes co-invest in production projects.

3. Geographic diversification

Most helium today comes from:

USA

Qatar

Algeria

Russia

The Rukwa Basin in Tanzania would represent a new supply basin.

That matters because:

helium markets suffer from geopolitical risk

new basins improve supply resilience.

A buyer like Linde benefits from multiple global supply sources.

4. Early-stage project leverage

Helium One is still relatively small and developing its assets. That means a large industrial gas company could:

secure offtake agreements

fund development in exchange for supply

take an equity stake or acquire the company

This type of arrangement is common in specialty gases and mining.

5. Helium demand growth

Demand is expected to nearly double by 2035, driven by:

semiconductor manufacturing

AI computing hardware

space launches

MRI scanners

Linde must secure long-term supply decades ahead.

A new helium province like Rukwa could become strategically important.

In simple terms:

Helium One = potential new helium mine

Linde = global helium supplier that needs raw gas

So Linde could be interested because Helium One might become a future feedstock source for its helium network.

MCNol, our friends kread and blubay must be in a fix then! :)

I'm late up and thought we must have had one!! Good to see the sp cheering up a bit. RNS must be tomorrow then!

All looking exceptionally good for our Helium, especially with the US arm. I bet that 50% share we have with BNL is of immediate interest to a major, together with the sweetener of a very large cavern of helium in Tanzania. I am seriously thinking there might well be a bidding war at play to get in on the action with us. I assume any suitor will have to be approved by the Tanz Govt of course!

COME ON @lindeplc, SHOW US YOUR HAND :)

Why they might be interested

The world’s largest industrial gas company.

Major global helium distributor.

Frequently invests in helium purification plants and supply agreements.

Why Helium One could fit

Linde prefers long-term supply contracts or joint ventures with upstream producers.

If Rukwa proves large enough, Linde could:

finance a helium processing plant

sign a long-term offtake deal

potentially buy a stake in the project.

COME ON LINDE, SHOW US THE MONEY :)

For kread;

"Simple summary

Step What happened

Investors funded company Up to £10m available

Converted into shares £7.875m

Not converted £2.125m

Company repaid investors £2.38m cash"

courtesy of the Chat. Just an aide memoire.

Kread, don't think the company will be worried currently.

"Following the Final Conversion Notice, a total of £7,875,000 has been converted under the Investment Agreement, leaving an unconverted balance of £2,125,000. The Investors have agreed to waive their right to serve Conversion Notices for this outstanding balance, and accept a cash repayment from the Company, together with a 12% termination fee that is due under the terms of the Investment Agreement. The Repayment equates to £2,380,000 in aggregate and will be made on or before 14 October 2025." - see rns relating to this.

With a farm out agreement on top, I don't think the company will need to fund raise at all, do you? Perhaps you would care to explain why you think this, bearing in mind the rns information above?

Actually if you're here again slacks this afternoon, that tells me that there could actually be news tomorrow!

Ha ha ha slacker, another one from the boiler room gang of old!