First Mongolian Rare Earth shipment to be sold to South Korea

Green Technology Solutions Inc. (PK:GTSO) will send its 1st Mongolian Rare Earth shipment to South Korea in June, local media reported Tuesday.

In an earlier report, GTSO President John Shearer said the company had targeted April for this initial shipment.

GTSO formed a Joint Venture with Rare Earth Exporters of Mongolia (AMEX:REE) in February, aiming to obtain Rare Earth mining claims and operations in Mongolia.

Mr. Shearer said demand for rare earths was at an all-time high, and they were working hard to begin the mining operations as quickly as possible.

The company plans to send a shipping container full of Rare Earth mined from Mongolia to the Russian port of Vladivostok by railway, and then ship it to Seoul, he said.

But a further analysis of the content and density of the Rare Earth is needed, and the ore will be taken to the government labs.

Rare Earth elements are vital to the manufacture of electronics, superconductors, and clean energy products

Domestic use and environmental concerns have led to fewer mining permits in China, resulting in fewer exports and higher prices in the International market.

According to a Y 2009 estimation by the US Geological Survey, Mongolia has 31M tons of Rare Earth reserves, or 16.77% of the total Global reserves, making it the 2nd biggest holder in the world after China.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

www.livetradingnews.com

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