GTSO Pursues Rare Earth Transport Agreement with Russian Railways
Green Technology Solutions, Inc. (OTCBB: GTSO) announced today that the company has approached freight services provider Russian Railways regarding the transport of rare earth ore from Mongolia to the international seaport of Vladivostok, Russia.
GTSO and Rare Earth Exporters of Mongolia announced the formation of a joint venture earlier this month to procure rare-earth mining claims and operations in Mongolia. The joint venture plans to convey Mongolian mining products overland to railway for transport to Vladivostok in order to avoid shipping through China. Destination ports for these mining products are set to include the U.S., Japan and South Korea.
Russian Railways is a major freight provider on the Eurasian continent, offering international freight services for ore and many other types of commodities. The company provides rail service traversing Mongolia from south to north, including passage through the nation's capital, Ulan Bator, where the joint venture's new transport office is located.
?Russian Railways is the ideal company to help us transport rare earths from mines in Mongolia to port in Russia,? said GTSO President and CEO John Shearer. ?They have the necessary expertise and infrastructure to transport 20 tons of ore per day by rail, which is our goal. We hope to reach an agreement with them soon.?
China's stranglehold over global production of rare earth has spurred supply concerns in the U.S., Japan and South Korea. Having established a near-monopoly over rare-earth production worldwide over the past 20 years, China is drastically reducing its exports in an attempt to force foreign technology firms to move their manufacturing to China. As a result, the U.S. and its allies are totally reliant on the communist nation for the production of their most powerful weapons and technology.
China does not hold all of the world's rare earth deposits, however. The vast majority of China's rare earths are mined in the country's Inner Mongolia region, which lies along the southern border of the nation of Mongolia. Many experts believe that Mongolia, a former Soviet state, contains rare earth deposits that rival those of China. By developing a new source of rare earths outside of China, GTSO aims to counter the rising security threat posed by China's iron grip on materials critical to the U.S.'s energy and defense industries.
GTSO commercializes clean and renewable mining technology and products in a sector that affects Molycorp, Inc. (NYSE: MCP), General Dynamics (NYSE: GD), Rare Element Resources Ltd. (AMEX: REE) and General Electric (NYSE:GE).
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. (GTSO) is an OTCQB publicly traded company. OTCQB is the middle tier of the OTC market. OTCQB companies report to the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. GTSO acquires, develops and implements the newest clean mining technology to enable our partner clients to expand operations throughout the world. Environmental restrictions represent the largest restriction to mining industry growth and operations. GTSO focuses on overcoming these environmental restrictions with brilliant cutting-edge clean mining technology.
For more information, please visit http://www.GreenTech-Solutions.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
John Shearer, 408-432-7285
President and CEO
© Business Wire 2011
GTSO and Rare Earth Exporters of Mongolia announced the formation of a joint venture earlier this month to procure rare-earth mining claims and operations in Mongolia. The joint venture plans to convey Mongolian mining products overland to railway for transport to Vladivostok in order to avoid shipping through China. Destination ports for these mining products are set to include the U.S., Japan and South Korea.
Russian Railways is a major freight provider on the Eurasian continent, offering international freight services for ore and many other types of commodities. The company provides rail service traversing Mongolia from south to north, including passage through the nation's capital, Ulan Bator, where the joint venture's new transport office is located.
?Russian Railways is the ideal company to help us transport rare earths from mines in Mongolia to port in Russia,? said GTSO President and CEO John Shearer. ?They have the necessary expertise and infrastructure to transport 20 tons of ore per day by rail, which is our goal. We hope to reach an agreement with them soon.?
China's stranglehold over global production of rare earth has spurred supply concerns in the U.S., Japan and South Korea. Having established a near-monopoly over rare-earth production worldwide over the past 20 years, China is drastically reducing its exports in an attempt to force foreign technology firms to move their manufacturing to China. As a result, the U.S. and its allies are totally reliant on the communist nation for the production of their most powerful weapons and technology.
China does not hold all of the world's rare earth deposits, however. The vast majority of China's rare earths are mined in the country's Inner Mongolia region, which lies along the southern border of the nation of Mongolia. Many experts believe that Mongolia, a former Soviet state, contains rare earth deposits that rival those of China. By developing a new source of rare earths outside of China, GTSO aims to counter the rising security threat posed by China's iron grip on materials critical to the U.S.'s energy and defense industries.
GTSO commercializes clean and renewable mining technology and products in a sector that affects Molycorp, Inc. (NYSE: MCP), General Dynamics (NYSE: GD), Rare Element Resources Ltd. (AMEX: REE) and General Electric (NYSE:GE).
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. (GTSO) is an OTCQB publicly traded company. OTCQB is the middle tier of the OTC market. OTCQB companies report to the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. GTSO acquires, develops and implements the newest clean mining technology to enable our partner clients to expand operations throughout the world. Environmental restrictions represent the largest restriction to mining industry growth and operations. GTSO focuses on overcoming these environmental restrictions with brilliant cutting-edge clean mining technology.
For more information, please visit http://www.GreenTech-Solutions.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
John Shearer, 408-432-7285
President and CEO
© Business Wire 2011
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