SAN JOSE, Calif.--(BUSINESS WIRE)--Third graph, first sentence of release should read: “Mongolia is the next frontier in rare earth exports,” (sted "rare earth explorations").
The corrected release reads:
GTSO PRESIDENT PLANS INSPECTION OF NEW MONGOLIAN RARE EARTH PROPERTIES
President and CEO John Shearer will Travel to Ulan Bator in May
Green Technology Solutions (OTCQB: GTSO) President and CEO John Shearer will travel to the nation of Mongolia next month to inspect several mineral-rich properties that the company expects to acquire the right to develop into rare earth mines.
Shearer’s site inspection will be another step in the company’s due diligence in the region. Earlier this year, GTSO formed a joint venture with Rare Earth Exporters of Mongolia (REE) to procure and develop rare earth mining claims and operations inside the developing Asian nation. The joint venture signed letters of intent to develop four rare earth properties there, and last week, GTSO announced it is in talks to make REE a wholly owned subsidiary. If GTSO’s acquisition of REE is successful, Green Technology Solutions could potentially own the sole rights to those properties.
“Mongolia is the next frontier in rare earth exports,” Shearer said. “By acquiring mining rights there, we feel GTSO will be well positioned to capitalize on the skyrocketing rare earth demand and prices in the U.S., Japan, South Korea and elsewhere.”
The trip will be Shearer’s first to Mongolia, which is the key locale in Green Technology Solutions’ plans to develop new sources of rare elements outside of China, the world’s dominant rare earths producer. China currently supplies more than 95 percent of the world’s rare elements, but new, strict rare earth industry regulations instituted by its Communist government have led to worldwide fears of a supply shortage. Shearer said on Friday that Mongolia, China’s neighbor to the north, contains enough rare earth reserves to keep the U.S. and its allies well supplied in the race to create new green technology innovations.
While in Mongolia, Shearer also plans to meet with the joint venture’s transportation office staff in the capital city of Ulan Bator. The city serves as a major transportation hub in the region and is connected by rail to the Trans-Siberian Railway in neighboring Russia. GTSO and REE plan to utilize that transportation infrastructure to convey Mongolian rare-earth mining products to the international Russian seaport of Vladivostok for export around the globe. The transportation office will bring together the joint venture’s executive management, geologists, transportation schedulers and mining operations personnel under one roof.
“I’m excited to meet our Mongolian agents at last, particularly since we expect to acquire REE very soon,” Shearer said. “We’ve already received inquiries from companies including 3M, and GTSO has every intention of beginning to mine and export rare earths from these sites in Mongolia as quickly as we possibly can. Our transportation office will play a large role in making that happen.”
To learn more about the joint venture’s Mongolian 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), MV Rare Earth/Strategic Metals (NYSEArca: REMX), United Technologies Corp. (NYSE: UTX) and Textron Inc. (NYSE: TXT).
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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