GTSO Signs LOI to Excavate and Ship Rare Earths from 3 Sites in Mongolia to S. Korea
Green Technology Solutions, Inc. (OTCQB:GTSO) announced today that the company signed a letter of intent with Ar Erkhes, LLC, to participate in a profit arrangement for the excavation and shipping of rare earth ore from Mongolia to South Korea.
According to the letter of intent, GTSO will perform due diligence toward a new profit participation agreement with Ar Erkhes for three rare earth mining sites in Mongolia. The companies plan to begin preparations to ship a 20-ton container of rare earth ore from these sites to Seoul for mineral analysis this week. Today, excavation of ore begins at the first of these sites, Ar Erkhes' Avdrant mine in the Bayandelger Soum of Mongolia's Tuv province. The minerals will be loaded for transport via rail to the international seaport of Vladivostok, Russia. From there, the ore will be shipped to South Korea.
The shipment will be the companies' first of many planned rare earth exports from Mongolia to South Korea, Japan and the U.S.
"We have been working hard for months to develop new sources of rare earths in Mongolia for export to the U.S. and her allies," said GTSO President and CEO John Shearer. "We plan to announce a completed PPA with Ar Erkhes very soon and to begin making regular shipments of rare earth ore around the world."
Ar Erkhes is a Mongolian trading and mining company located in the capital city of Ulan Bator. Last month, GTSO commissioned a new rare earth mineral assay that confirmed the presence of rare elements at the first of several Ar Erkhes mining properties that the company plans to develop in the Central Asian nation.
GTSO is planning the initial shipment to South Korea as the first step in gaining approval to sell rare elements to buyers there. Rare earths are critical to the manufacture of smartphones, automobiles and consumer electronics in addition to green energy technology. GTSO has already received inquiries from manufacturers worldwide, including buyers from conglomerates such as 3M and others.
"We were inundated with inquiries into the availability of Mongolian rare earth ore last week at the International Rare Earth Summit in China," Shearer said. "Demand for these critical metals has never been higher, and we are working quickly to hammer out the necessary agreements with Ar Erkhes to capitalize on these extraordinary market conditions."
Exploding prices for rare earths are being driven by new policies enacted by the world's dominant producer, China, aimed at reining in production. Though possessed of only 30 percent of the world's rare earth deposits, the Communist superpower accounts for more than 95 percent of global supplies. With China restricting new mining licenses, cutting rare earth quotas and imposing heavier taxes, rare earth suppliers outside of its borders such as GTSO are poised to capitalize on worldwide fears of potential shortages.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Honda Motor Company, Ltd. (NYSE: HMC), MV Rare Earth/Strategic Metals (NYSEArca: REMX), Qiao Xing Universal Resources (Nasdaq: XING) and Danaher Corp. (NYSE: DHR).
About Green Technology Solutions, Inc.
The next generation of green technology--electric car batteries, wind turbine generators, photovoltaic solar panels--is made possible by precious elements mined from the earth's crust, and the world's dependence on these substances is rising fast. Today, these rare elements largely come from some of the most environmentally damaging mines in the world. Green Technology Solutions, Inc. offers clean mining solutions to the acquisition of rare earths, gold and other materials used in the latest green-tech innovations. Our cutting-edge clean mining techniques and strategies are generating business leads from around the globe as governments and corporations seek to lessen the environmental impacts of ore mining. GTSO is positioned to capitalize on exciting and potentially lucrative opportunities to develop cleaner mines in emerging nations around the world, including Mongolia, the Republic of Congo and many more. Our company is focused on aggressively growing and diversifying our business in order to produce green mining solutions for our clients on a global scale.
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
According to the letter of intent, GTSO will perform due diligence toward a new profit participation agreement with Ar Erkhes for three rare earth mining sites in Mongolia. The companies plan to begin preparations to ship a 20-ton container of rare earth ore from these sites to Seoul for mineral analysis this week. Today, excavation of ore begins at the first of these sites, Ar Erkhes' Avdrant mine in the Bayandelger Soum of Mongolia's Tuv province. The minerals will be loaded for transport via rail to the international seaport of Vladivostok, Russia. From there, the ore will be shipped to South Korea.
The shipment will be the companies' first of many planned rare earth exports from Mongolia to South Korea, Japan and the U.S.
"We have been working hard for months to develop new sources of rare earths in Mongolia for export to the U.S. and her allies," said GTSO President and CEO John Shearer. "We plan to announce a completed PPA with Ar Erkhes very soon and to begin making regular shipments of rare earth ore around the world."
Ar Erkhes is a Mongolian trading and mining company located in the capital city of Ulan Bator. Last month, GTSO commissioned a new rare earth mineral assay that confirmed the presence of rare elements at the first of several Ar Erkhes mining properties that the company plans to develop in the Central Asian nation.
GTSO is planning the initial shipment to South Korea as the first step in gaining approval to sell rare elements to buyers there. Rare earths are critical to the manufacture of smartphones, automobiles and consumer electronics in addition to green energy technology. GTSO has already received inquiries from manufacturers worldwide, including buyers from conglomerates such as 3M and others.
"We were inundated with inquiries into the availability of Mongolian rare earth ore last week at the International Rare Earth Summit in China," Shearer said. "Demand for these critical metals has never been higher, and we are working quickly to hammer out the necessary agreements with Ar Erkhes to capitalize on these extraordinary market conditions."
Exploding prices for rare earths are being driven by new policies enacted by the world's dominant producer, China, aimed at reining in production. Though possessed of only 30 percent of the world's rare earth deposits, the Communist superpower accounts for more than 95 percent of global supplies. With China restricting new mining licenses, cutting rare earth quotas and imposing heavier taxes, rare earth suppliers outside of its borders such as GTSO are poised to capitalize on worldwide fears of potential shortages.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Honda Motor Company, Ltd. (NYSE: HMC), MV Rare Earth/Strategic Metals (NYSEArca: REMX), Qiao Xing Universal Resources (Nasdaq: XING) and Danaher Corp. (NYSE: DHR).
About Green Technology Solutions, Inc.
The next generation of green technology--electric car batteries, wind turbine generators, photovoltaic solar panels--is made possible by precious elements mined from the earth's crust, and the world's dependence on these substances is rising fast. Today, these rare elements largely come from some of the most environmentally damaging mines in the world. Green Technology Solutions, Inc. offers clean mining solutions to the acquisition of rare earths, gold and other materials used in the latest green-tech innovations. Our cutting-edge clean mining techniques and strategies are generating business leads from around the globe as governments and corporations seek to lessen the environmental impacts of ore mining. GTSO is positioned to capitalize on exciting and potentially lucrative opportunities to develop cleaner mines in emerging nations around the world, including Mongolia, the Republic of Congo and many more. Our company is focused on aggressively growing and diversifying our business in order to produce green mining solutions for our clients on a global scale.
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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