Risky Rare Ore Shipment from Mongolia to Be Streamed Live on Internet by GTSO
Green Technology Solutions (News 
- Alert) (GTSO) announced on May 17 that it will offer a live video feed via satellite of the beginning, transit, and delivery of its first shipment of rare earth ore from Mongolia to South Korea, a staunch U.S. strategic economic and military ally.
Mongolia possesses substantial deposits of granites and syenites rich in rare metals, most notably yttrium, tantalum, niobium, thorium and zirconium. These ores are valuable to the United States and its allies because they are critical to the production of defense systems and weapons, flat-screen televisions, Apple (News - Alert) iPads, electric motors and wind turbines, mobile phones, and gas pipelines, among other uses.
San Jose, California-based GTSO and Rare Earth Exporters of Mongolia (REE) formed a joint venture in February to pursue rare earth mining claims and operations in the developing Asian nation. The live video feed is being established for interested viewers on the company’s website, as well on REE’s website .
The joint venture plans to convey the Mongolian mining products overland to railway for transport to the international seaport of Vladivostok, Russia, in order to avoid shipping through China. Destination ports for these mining products are set to include the United States, Japan, and South Korea.
Detailed logistics for the shipment are currently being scrutinized. GTSO management believes that establishing a new reliable source and route to supply U.S. economic and military allies with rare earth supplies is a matter of national security, as well as an opportunity to enhance shareholder value.
Currently, China produces more than 90 percent of the global supply of rare earths. For 20 years, China has cultivated a strategic near-monopoly on the production of rare earths, regulating exports and mining permits. Over the past year, China has reduced exports from an annual 50,000 tons of rare earths to 30,000 tons. Last July, the Ministry of Commerce announced exports would be slashed to 8,000 tons for the remainder of 2010.
A report published in late July by the Congressional Research Service in Washington, DC, Rare Earth Elements: The Global Supply Chain, warned that, “World demand is projected to rise to 180,000 tons annually by 2012. It is unlikely that new mine output will close the gap in the short term. New mining projects could easily take 10 years to reach production.”
Such fears have prompted companion bills in the U.S. Congress to boost the country's rare-earth industry through the creation of government stockpiles and loan-guarantees to kick-start mining and refining operations.
However, GTSO President and CEO John Shearer has stated, “We are not waiting for 2012 or 2013 to help solve this worldwide supply crisis in rare earths. We are proceeding at a deliberate, but quick, cadence to both solve and capitalize on the current crisis conditions in the rare earth supply sector.”
In addition to the precautions previously mentioned, GTSO is working closely with an American-based risk management firm that offers extensive global precious materials experience to alleviate any potential variables that could interfere with the establishment of dependable supply transportation routes. The company plans to identify the security firm once the first delivery has been completed.
“We are taking every possible scenario into consideration and addressing it with the best professional and experienced minds in the business,” Shearer added. “We’re not messing around—there is a lot on the line here.”
Green Technology Solutions commercializes clean and renewable mining technology and products. 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.
For more information on the Mongolia initiative, please visit the company’s site.
Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2011, taking place Sept. 13-15, 2011, in Austin, Texas. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. To register, click here.
Cheryl Kaften is an accomplished communicator who has written for consumer and corporate audiences. She has worked extensively for MasterCard (News - Alert) Worldwide, Philip Morris USA (Altria), and KPMG, and has consulted for Estee Lauder and the Philadelphia Inquirer Newspapers. To read more of her articles, please visit her columnist page.
Edited by Jennifer Russell
- Alert) (GTSO) announced on May 17 that it will offer a live video feed via satellite of the beginning, transit, and delivery of its first shipment of rare earth ore from Mongolia to South Korea, a staunch U.S. strategic economic and military ally. Mongolia possesses substantial deposits of granites and syenites rich in rare metals, most notably yttrium, tantalum, niobium, thorium and zirconium. These ores are valuable to the United States and its allies because they are critical to the production of defense systems and weapons, flat-screen televisions, Apple (News
- Alert) iPads, electric motors and wind turbines, mobile phones, and gas pipelines, among other uses. San Jose, California-based GTSO and Rare Earth Exporters of Mongolia (REE) formed a joint venture in February to pursue rare earth mining claims and operations in the developing Asian nation. The live video feed is being established for interested viewers on the company’s website, as well on REE’s website .
The joint venture plans to convey the Mongolian mining products overland to railway for transport to the international seaport of Vladivostok, Russia, in order to avoid shipping through China. Destination ports for these mining products are set to include the United States, Japan, and South Korea.
Detailed logistics for the shipment are currently being scrutinized. GTSO management believes that establishing a new reliable source and route to supply U.S. economic and military allies with rare earth supplies is a matter of national security, as well as an opportunity to enhance shareholder value.
Currently, China produces more than 90 percent of the global supply of rare earths. For 20 years, China has cultivated a strategic near-monopoly on the production of rare earths, regulating exports and mining permits. Over the past year, China has reduced exports from an annual 50,000 tons of rare earths to 30,000 tons. Last July, the Ministry of Commerce announced exports would be slashed to 8,000 tons for the remainder of 2010.
A report published in late July by the Congressional Research Service in Washington, DC, Rare Earth Elements: The Global Supply Chain, warned that, “World demand is projected to rise to 180,000 tons annually by 2012. It is unlikely that new mine output will close the gap in the short term. New mining projects could easily take 10 years to reach production.”
Such fears have prompted companion bills in the U.S. Congress to boost the country's rare-earth industry through the creation of government stockpiles and loan-guarantees to kick-start mining and refining operations.
However, GTSO President and CEO John Shearer has stated, “We are not waiting for 2012 or 2013 to help solve this worldwide supply crisis in rare earths. We are proceeding at a deliberate, but quick, cadence to both solve and capitalize on the current crisis conditions in the rare earth supply sector.”
In addition to the precautions previously mentioned, GTSO is working closely with an American-based risk management firm that offers extensive global precious materials experience to alleviate any potential variables that could interfere with the establishment of dependable supply transportation routes. The company plans to identify the security firm once the first delivery has been completed.
“We are taking every possible scenario into consideration and addressing it with the best professional and experienced minds in the business,” Shearer added. “We’re not messing around—there is a lot on the line here.”
Green Technology Solutions commercializes clean and renewable mining technology and products. 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.
For more information on the Mongolia initiative, please visit the company’s site.
Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2011, taking place Sept. 13-15, 2011, in Austin, Texas. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. To register, click here.
Cheryl Kaften is an accomplished communicator who has written for consumer and corporate audiences. She has worked extensively for MasterCard (News - Alert) Worldwide, Philip Morris USA (Altria), and KPMG, and has consulted for Estee Lauder and the Philadelphia Inquirer Newspapers. To read more of her articles, please visit her columnist page.
Edited by Jennifer Russell
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