GTSO to Initiate Talks With S. Korean Buyers for Mongolian Rare Earth Exports
Company Expects First Shipment of Mongolian Ores Could be Bound for Seoul Soon
SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions Inc. (OTCQB:GTSO) announced today that the company anticipates its first rare earth exports from Mongolia to be sold to buyers in South Korea.
GTSO President and CEO John Shearer said Monday that the company has engaged a South Korean business consultant to assist in coordinating shipments of Mongolian rare earth ores to Seoul from the international seaport of Vladivostok, Russia. GTSO plans to soon acquire the mining rights to four mineral-rich properties in Mongolia for development into new rare earth mines.
“South Korean automakers and electronics manufacturers are currently seeing soaring rare earth prices and are concerned about future export cuts from China,” Shearer said. “Our new consultant is an experienced and qualified businessman with many close contacts in the South Korean electronics industry. We will rely on his expertise to help us forge new business relationships on the Korean Peninsula.”
Rare earths are crucial elements in the manufacture of consumer electronics and auto parts, including hybrid and electric vehicle batteries. As gas prices continue to soar, many experts expect the demand for hybrid and electric cars to increase around the world. In the face of skyrocketing global demand for rare earths, China, the top producer of rare elements, has introduced a series of new policies for its rare earth industry that have helped drive up prices. In recent months, the emerging Asian superpower has announced stricter emission limits on miners, cuts in export quota and a new resources tax.
“There are concerns in South Korea and elsewhere that China may no longer be willing to provide nearly all of the world’s rare earth supplies,” Shearer said. “GTSO is committed to developing new sources of rare earths outside of China, helping to ensure a reliable and affordable stream of rare earth ores to South Korea, Japan and the U.S.”
Mongolia, China’s neighbor to the north, may be uniquely positioned as the new frontier in rare earth exports. Most of China’s rare earth reserves are mined in that country’s Inner Mongolia region bordering the nation of Mongolia. Through a joint venture with Rare Earth Exporters of Mongolia (REE), GTSO is pursuing several new mining sites and operations inside the developing nation. GTSO is pleased with its prospects in the region—Last week, the company announced plans to make REE a wholly owned subsidiary.
“We are working diligently to secure new mining rights in Mongolia to capitalize on shifting market dynamics in the global rare earths industry,” Shearer said. “The development of profitable partnerships with South Korean manufacturers is a crucial part of our plans.”
For more information on the joint venture’s Mongolian export plans, please visit http://www.rareearthexporters.com.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes China Shen Zhou Mining & Resources, Inc. (AMEX:SHZ), MV Rare Earth/Strategic Metals (NYSEArca:REMX), 3M Co. (NYSE:MMM) and Silver Wheaton Corp. (NYSE:SLW).
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. (OTCQB:GTSO) announced today that the company anticipates its first rare earth exports from Mongolia to be sold to buyers in South Korea.
GTSO President and CEO John Shearer said Monday that the company has engaged a South Korean business consultant to assist in coordinating shipments of Mongolian rare earth ores to Seoul from the international seaport of Vladivostok, Russia. GTSO plans to soon acquire the mining rights to four mineral-rich properties in Mongolia for development into new rare earth mines.
“South Korean automakers and electronics manufacturers are currently seeing soaring rare earth prices and are concerned about future export cuts from China,” Shearer said. “Our new consultant is an experienced and qualified businessman with many close contacts in the South Korean electronics industry. We will rely on his expertise to help us forge new business relationships on the Korean Peninsula.”
Rare earths are crucial elements in the manufacture of consumer electronics and auto parts, including hybrid and electric vehicle batteries. As gas prices continue to soar, many experts expect the demand for hybrid and electric cars to increase around the world. In the face of skyrocketing global demand for rare earths, China, the top producer of rare elements, has introduced a series of new policies for its rare earth industry that have helped drive up prices. In recent months, the emerging Asian superpower has announced stricter emission limits on miners, cuts in export quota and a new resources tax.
“There are concerns in South Korea and elsewhere that China may no longer be willing to provide nearly all of the world’s rare earth supplies,” Shearer said. “GTSO is committed to developing new sources of rare earths outside of China, helping to ensure a reliable and affordable stream of rare earth ores to South Korea, Japan and the U.S.”
Mongolia, China’s neighbor to the north, may be uniquely positioned as the new frontier in rare earth exports. Most of China’s rare earth reserves are mined in that country’s Inner Mongolia region bordering the nation of Mongolia. Through a joint venture with Rare Earth Exporters of Mongolia (REE), GTSO is pursuing several new mining sites and operations inside the developing nation. GTSO is pleased with its prospects in the region—Last week, the company announced plans to make REE a wholly owned subsidiary.
“We are working diligently to secure new mining rights in Mongolia to capitalize on shifting market dynamics in the global rare earths industry,” Shearer said. “The development of profitable partnerships with South Korean manufacturers is a crucial part of our plans.”
For more information on the joint venture’s Mongolian export plans, please visit http://www.rareearthexporters.com.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes China Shen Zhou Mining & Resources, Inc. (AMEX:SHZ), MV Rare Earth/Strategic Metals (NYSEArca:REMX), 3M Co. (NYSE:MMM) and Silver Wheaton Corp. (NYSE:SLW).
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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