GTSO Signs PPA to Excavate Rare Earths from 3 New Mongolian Mines
Company to Realize a Percentage of Net Profits Generated by Rare Earths Production.
SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCQB:GTSO) announced today that it signed a Profit Participation Agreement (PPA) with Mongolian mining and trading company Ar Erkhes, LLC, to facilitate the mining of rare earths at three sites in the developing Asian nation.
According to the terms of the PPA, GTSO will make monthly payments to Ar Erkhes for the next six months in exchange for a percentage of the net profits generated by rare earths production at the mines. GTSO will facilitate the excavation of core samples and arrange for the identification of any and all rare earths present at each site.
The three mining properties covered in the PPA are located in three different Mongolian provinces. The first site, referred to in the PPA as the Avdrant Mine, is located in the Bayandelger Soum of Mongolia’s Tuv province, 80 km south of the country’s capital city of Ulan Bator. The second site, the Agiut Mine, can be found in the Dashinchilen Soum of the Bulgan Province, 260 km south of the capital. The third and final property, known as the Modot Uul Mine, is located in the Airag Soum of Mongolia’s Dornogobi province, 382 km from Ulan Bator.
“Next week, we plan to begin the process of selecting a reputable mineral lab to analyze core samples from each of the three mining properties,” said GTSO President and CEO John Shearer. “We’re very eager to begin full-scale rare earths production in Mongolia as soon as possible, but the mines’ mineral contents must be confirmed and specified by an outside laboratory before we’re able to negotiate with potential export buyers.”
For more information on GTSO’s export plans, please visit http://www.rareearthexporters.com.
The profit agreement with Ar Erkhes is the latest achievement in GTSO’s mission to develop new sources of rare earth elements outside of China, the world’s dominant producer. Recently, the Communist superpower has tightened its grip over the critical elements by placing new restrictions on their mining and export, sparking worldwide fears of supply shortages. In addition to green technology such as wind turbines and hybrid cars, rare earths are essential to the manufacture of automobiles, smartphones and military hardware.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Rio Tinto plc (NYSE:RIO), MV Rare Earth/Strategic Metals (NYSEArca:REMX), EI DuPont de Nemours & Co. (NYSE: DD) and Ivanhoe Mines Ltd. (NYSE: IVN).
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.
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 it signed a Profit Participation Agreement (PPA) with Mongolian mining and trading company Ar Erkhes, LLC, to facilitate the mining of rare earths at three sites in the developing Asian nation.
According to the terms of the PPA, GTSO will make monthly payments to Ar Erkhes for the next six months in exchange for a percentage of the net profits generated by rare earths production at the mines. GTSO will facilitate the excavation of core samples and arrange for the identification of any and all rare earths present at each site.
The three mining properties covered in the PPA are located in three different Mongolian provinces. The first site, referred to in the PPA as the Avdrant Mine, is located in the Bayandelger Soum of Mongolia’s Tuv province, 80 km south of the country’s capital city of Ulan Bator. The second site, the Agiut Mine, can be found in the Dashinchilen Soum of the Bulgan Province, 260 km south of the capital. The third and final property, known as the Modot Uul Mine, is located in the Airag Soum of Mongolia’s Dornogobi province, 382 km from Ulan Bator.
“Next week, we plan to begin the process of selecting a reputable mineral lab to analyze core samples from each of the three mining properties,” said GTSO President and CEO John Shearer. “We’re very eager to begin full-scale rare earths production in Mongolia as soon as possible, but the mines’ mineral contents must be confirmed and specified by an outside laboratory before we’re able to negotiate with potential export buyers.”
For more information on GTSO’s export plans, please visit http://www.rareearthexporters.com.
The profit agreement with Ar Erkhes is the latest achievement in GTSO’s mission to develop new sources of rare earth elements outside of China, the world’s dominant producer. Recently, the Communist superpower has tightened its grip over the critical elements by placing new restrictions on their mining and export, sparking worldwide fears of supply shortages. In addition to green technology such as wind turbines and hybrid cars, rare earths are essential to the manufacture of automobiles, smartphones and military hardware.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Rio Tinto plc (NYSE:RIO), MV Rare Earth/Strategic Metals (NYSEArca:REMX), EI DuPont de Nemours & Co. (NYSE: DD) and Ivanhoe Mines Ltd. (NYSE: IVN).
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.
Contacts
Green Technology Solutions, Inc.
John Shearer, 408-432-7285
President and CEO
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