SAN JOSE, Calif.--(BUSINESS WIRE)--A review of China’s rare earth industry released last week by the U.S. Geological Survey supports Green Technology Solution’s (OTCQB:GTSO) assertion that new mines must be developed to reduce the U.S.’s over-reliance on Chinese rare earth elements.
The report compiled information on China’s production, consumption, and reserves of rare earth elements as well as the Communist nation’s rare earth trade policies and export quotas. Since 1990, China's share of global rare earth production has increased from 27 percent to 95 percent. Its export quota has declined sharply in recent years due to increased domestic demand and strategic economic planning.
China’s declining rare earth export quotas have spurred supply concerns in the U.S., Japan and South Korea. In its review, the U.S. Geological Survey recommended that in order to prevent shortages, the U.S. should reduce its reliance on Chinese rare earths and develop new mines outside of China.
Green Technology Solutions is working to achieve that very goal. Last month, GTSO announced that it entered into a joint venture agreement with Rare Earth Exporters of Mongolia (REE) in order to procure rare-earth mining claims and operations in the developing Asian nation of Mongolia. The vast majority of China’s rare earths are mined in the country’s Inner Mongolia region, which lies along the southern border of the nation of Mongolia. Many experts believe that Mongolia, a former Soviet state, contains rare earth deposits that rival those of China.
The joint venture plans to convey Mongolian mining products overland to railway for transport to the seaport of Vladivostok, Russia, in order to avoid shipping through China. Destination ports for these mining products are set to include the U.S., Japan and South Korea.
For investment information, please visit www.RareEarthExporters.com.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Molycorp, Inc. (NYSE:MCP), Rare Element Resources Ltd. (AMEX:REE), United Technologies Corp. (NYSE:UTX) and Honda Motor Co (NYSE:HMC).
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.
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