GTSO JV Advances Strategic Plan For Rare Earth Exports From Mongolia
Green Technology Solutions (OTCBB:GTSO) President and CEO John Shearer disclosed today that he sent a letter to the Mongolian Ambassador to the U.S. seeking assistance in implementing export logistics for rare earth ore inside Mongolia. GTSO and Rare Earth Exporters of Mongolia (REE) formed a joint venture in February to expand rare earth production and exports from the developing Asian nation.
The letter, addressed to Ambassador Bekhbat Khasbazar, requests the Embassy’s assistance in guiding the joint venture through the proper channels and authorities in transporting its mining ore within the country. GTSO is in communication with Russian Railways for the purpose of coordinating rail transport of their mining ore from Ulan Bator, Mongolia to the Russian seaport of Vladivostok. The company’s strategic exporting plan purposefully avoids moving any mining ore through China.
Last week, Shearer traveled to the Embassy of Mongolia in Washington, D.C., to meet with Ariunaa Adiya, the Embassy’s First Secretary, Trade and Economic Affairs. Shearer said that Adiya was “very pleased” that GTSO’s joint venture, a private enterprise, was enthusiastic about investing and doing business in Mongolia.
Rare earth elements are critical to the manufacture of products such as batteries, solar cells and advanced electric motors in addition to strategic defense and weapons systems. Today, more than 90 percent of the global supply of rare earth elements is produced in China. 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 near-monopoly over materials critical to the U.S.’s energy and defense industries.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that affects Ivanhoe Mines Ltd. (NYSE: IVN), General Electric Co. (NYSE: GE), Peabody Energy Corp. (NYSE: BTU) and Honeywell International Inc. (NYSE: HON).
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.
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.
The letter, addressed to Ambassador Bekhbat Khasbazar, requests the Embassy’s assistance in guiding the joint venture through the proper channels and authorities in transporting its mining ore within the country. GTSO is in communication with Russian Railways for the purpose of coordinating rail transport of their mining ore from Ulan Bator, Mongolia to the Russian seaport of Vladivostok. The company’s strategic exporting plan purposefully avoids moving any mining ore through China.
Last week, Shearer traveled to the Embassy of Mongolia in Washington, D.C., to meet with Ariunaa Adiya, the Embassy’s First Secretary, Trade and Economic Affairs. Shearer said that Adiya was “very pleased” that GTSO’s joint venture, a private enterprise, was enthusiastic about investing and doing business in Mongolia.
Rare earth elements are critical to the manufacture of products such as batteries, solar cells and advanced electric motors in addition to strategic defense and weapons systems. Today, more than 90 percent of the global supply of rare earth elements is produced in China. 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 near-monopoly over materials critical to the U.S.’s energy and defense industries.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that affects Ivanhoe Mines Ltd. (NYSE: IVN), General Electric Co. (NYSE: GE), Peabody Energy Corp. (NYSE: BTU) and Honeywell International Inc. (NYSE: HON).
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.
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.
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