SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCBB:GTSO) announced today that it has engaged Mongolian attorney H. Orennxapran to assist in the company’s ongoing efforts to expand rare earth production and exports from the Asian nation.
Orennxapran is a native Mongolian with many years of legal experience. An expert in Mongolian mining laws, Orennxapran will assist the joint venture formed last month by GTSO and Rare Earth Exporters of Mongolia (REE) to pursue rare earth mining claims and operations in the former Soviet state. He offices in the capital city of Ulan Bator, Mongolia’s transportation hub and home to GTSO’s rare earth transport office.
The acquisition of Mongolian mining claims and operations is key to the joint venture’s plans to develop stable sources of rare earths outside of China, and the JV plans to strictly adhere to Mongolian law in its development efforts. On Monday, GTSO announced that the JV’s Mongolian agent company executed a new land lease agreement in the mineral-rich province of Tuv. GTSO management expects the new property to be especially rich in yttrium, tantalum, niobium, thorium and zirconium. Rare earths such as these are vital to worldwide manufacturing of products from advanced weapons to iPads.
Currently, China produces 95 percent of the global supply of rare earths. Domestic usage and environmental concerns in China are leading to fewer mining permits, fewer exports and rising prices. GTSO formed the joint venture with REE in order to capitalize on these market dynamics.
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 contains rare earth deposits that rival those of China.
GTSO President and CEO John Shearer said earlier this week that Mongolian trade is over-reliant on China and that its government would like to encourage more trade diversity. GTSO and its joint venture plan to utilize Ulan Bator’s road and rail infrastructure to convey Mongolian rare earth mining products to the international seaport of Vladivostok, Russia, to be shipped to the U.S., Japan and South Korea without traveling through China.
For more information on the joint venture’s transportation strategy, please visit http://www.rareearthexporters.com.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes BHP Billiton Ltd. (NYSE: BHP), Hitachi Ltd. (NYSE: HIT), EI DuPont de Nemours & Co. (NYSE: DD) and Sony Corp. (NYSE: SNE).
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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