GTSO Eyes April for First Shipment of Mongolian Rare Earth Ore
Rare Earths to be Sent by Rail to Russia and Sold to Highest Bidder
SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCBB:GTSO) announced today that its joint venture with Rare Earth Exporters of Mongolia (REE) plans to ship its first batch of rare earth ore from Mongolia in April to be sold to the highest bidder.
GTSO President and CEO John Shearer said on Friday that the rare earth ore will be sent by truck from the mines to Ulan Bator, Mongolia’s capital, where it will be shipped by rail to the international seaport of Vladivostok, Russia. While in port, the ore will be sold to the government or corporation that places the highest bid.
“We’re targeting April for this initial shipment, but the final shipping date may well come sooner,” Shearer said. “We’ve already been contacted by interested parties hoping to purchase Mongolian rare earths from us, and we plan to begin fulfilling demand as soon as we possibly can.”
GTSO and REE formed their joint venture last month to obtain rare earth mining claims and operations in Mongolia. The global supply of rare earth elements, vital to worldwide manufacturing of everything from consumer electronics to superconductors, is dominated by China. The emerging Communist superpower produces more than 95 percent of the world’s rare earths and has repeatedly slashed mining permits and export quotas in recent years as part of the government’s global economic strategy. However, many experts believe that China’s neighbor to the north, Mongolia, contains rare earth deposits rivaling any in the world.
GTSO’s joint venture plans to tap into those deposits to checkmate China’s iron grip over the critical materials and ensure a dependable supply stream to the U.S. and its allies. Last week, the JV executed a new land lease agreement in Mongolia’s mineral-rich province of Tuv. Negotiations for additional mining properties inside the developing nation are ongoing.
Shearer sent a letter last Wednesday requesting the Embassy of Mongolia’s assistance in guiding the joint venture through the proper channels and authorities in transporting mining ore within the country. GTSO is in communication with Russian Railways for the purpose of coordinating rail transport of its mining ore from Ulan Bator to Vladivostok. The company’s strategic exporting plan purposefully avoids moving any mining ore through China.
“We’ve been told by embassy officials that Mongolia is over-reliant on trade with China and that the government seeks to encourage trade with other nations, such as the U.S.,” Shearer said. “We are taking pains to follow the letter of the law in the nation of Mongolia in order to ensure that our dealings there are mutually beneficial.”
For more information on the joint venture’s transportation strategy, please visit http://www.rareearthexporters.com.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Cameco Corp. (NYSE: CCJ), Panasonic Corporation (NYSE: PC), Northrop Grumman Corporation (NYSE: NOC) and Rare Element Resources Ltd. (AMEX: REE).
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.
Contacts
Green Technology Solutions, Inc.
John Shearer, 408-432-7285
President and CEO
SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCBB:GTSO) announced today that its joint venture with Rare Earth Exporters of Mongolia (REE) plans to ship its first batch of rare earth ore from Mongolia in April to be sold to the highest bidder.
GTSO President and CEO John Shearer said on Friday that the rare earth ore will be sent by truck from the mines to Ulan Bator, Mongolia’s capital, where it will be shipped by rail to the international seaport of Vladivostok, Russia. While in port, the ore will be sold to the government or corporation that places the highest bid.
“We’re targeting April for this initial shipment, but the final shipping date may well come sooner,” Shearer said. “We’ve already been contacted by interested parties hoping to purchase Mongolian rare earths from us, and we plan to begin fulfilling demand as soon as we possibly can.”
GTSO and REE formed their joint venture last month to obtain rare earth mining claims and operations in Mongolia. The global supply of rare earth elements, vital to worldwide manufacturing of everything from consumer electronics to superconductors, is dominated by China. The emerging Communist superpower produces more than 95 percent of the world’s rare earths and has repeatedly slashed mining permits and export quotas in recent years as part of the government’s global economic strategy. However, many experts believe that China’s neighbor to the north, Mongolia, contains rare earth deposits rivaling any in the world.
GTSO’s joint venture plans to tap into those deposits to checkmate China’s iron grip over the critical materials and ensure a dependable supply stream to the U.S. and its allies. Last week, the JV executed a new land lease agreement in Mongolia’s mineral-rich province of Tuv. Negotiations for additional mining properties inside the developing nation are ongoing.
Shearer sent a letter last Wednesday requesting the Embassy of Mongolia’s assistance in guiding the joint venture through the proper channels and authorities in transporting mining ore within the country. GTSO is in communication with Russian Railways for the purpose of coordinating rail transport of its mining ore from Ulan Bator to Vladivostok. The company’s strategic exporting plan purposefully avoids moving any mining ore through China.
“We’ve been told by embassy officials that Mongolia is over-reliant on trade with China and that the government seeks to encourage trade with other nations, such as the U.S.,” Shearer said. “We are taking pains to follow the letter of the law in the nation of Mongolia in order to ensure that our dealings there are mutually beneficial.”
For more information on the joint venture’s transportation strategy, please visit http://www.rareearthexporters.com.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Cameco Corp. (NYSE: CCJ), Panasonic Corporation (NYSE: PC), Northrop Grumman Corporation (NYSE: NOC) and Rare Element Resources Ltd. (AMEX: REE).
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.
Contacts
Green Technology Solutions, Inc.
John Shearer, 408-432-7285
President and CEO
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