SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCQB:GTSO) continues preparations to send core samples from three Mongolian rare earth mining sites to South Korea for analysis as prices on heavy rare metals more than double due to China’s tightening control of rare earth mining, production and exports.
U.K.-based trade publication Industrial Metals reported last week that rare earth minerals dysprosium oxide and europium oxide, used in high-tech applications from nuclear reactors to smartphones, rose by more than 100 percent since the beginning of the month. The incredible surge in rare earth prices is credited by many analysts to China’s efforts to tighten exports. The Wall Street Journal reported last week that China is building a strategic reserve of the rare elements, a plan that may give the Asian superpower increased influence over global rare earth prices and supplies in a sector it already dominates.
The move to build reserves comes even as China’s rare earth exports are shrinking in the face of rising demand. Currently, China controls more than 95 percent of the world’s supplies of rare earth, which include some of the most sought-after materials in modern manufacturing. The heavy elements are critical to the production of green technology solutions such as wind turbines, hybrid-car batteries and solar panels as well as military applications such as night-vision goggles and laser-guided weapons.
GTSO and other mining developers around the world have responded to reductions in Chinese export quotas by working to begin rare earth production elsewhere. Earlier this month, GTSO announced 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. The company is currently making preparations to send core samples from each mining site to South Korea’s state-run resources development company KORES for analysis to assure potential buyers of the quality and density of the rare elements found within.
Once the analysis is complete, GTSO will move forward with plans to capitalize on the international explosion in rare earth prices by shipping Mongolian rare earths via rail to the international seaport of Vladivostok, Russia, for shipment to South Korea. For more information on GTSO’s export plans, please visit http://www.rareearthexporters.com.
GTSO is also in negotiations to develop rare earth resources in the Republic of Congo, Kenya, Botswana and other nations in southern Africa. Green Technology Solutions, Inc. commercializes clean and renewable mining technology and products in a sector that includes General Dynamics Corp. (NYSE:GD), MV Rare Earth/Strategic Metals (NYSEArca:REMX), 3M Co. (NYSE:MMM) and General Electric Co. (NYSE:GE).
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 for 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 impact 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.
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