SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCBB:GTSO) and Rare Earth Exporters of Mongolia (REE) today announced the opening of a new transport office in the Mongolian capital city of Ulan Bator. The companies formed a joint venture last week to procure rare-earth mining claims and operations in the developing Asian nation.
Ulan Bator is Mongolia’s largest city and the financial and industrial heart of the former Soviet state. The new office is located in the northern portion of the city. Ulan Bator serves as a major transportation hub in the region and is connected by rail to the Trans-Siberian Railway in neighboring Russia. The joint venture plans to utilize that transportation infrastructure to convey Mongolian rare-earth mining products to the international Russian seaport of Vladivostok.
“This new office gives our joint venture the best possible location to coordinate the transportation of Mongolian Rare Earth products to seaport,” said GTSO President and CEO John Shearer. “It will also accommodate additional executive management, geologists, transportation schedulers and mining operations personnel.”
Rare Earths are essential to the production of clean energy technologies such as weapons and defense systems, hybrid and electric car batteries, solar panels and wind turbines, and flat-screen TVs and monitors. Currently, China produces around 95 percent of the world’s supply of these critical materials. Economic strategy and environmental concerns in China are leading to fewer mining permits, fewer exports and higher prices. GTSO President and CEO John Shearer said Friday that the company formed the joint venture with REE in order to capitalize on these market dynamics.
“China has caused significant supply concerns by slashing export quotas three times in the past two years,” Shearer said. “By developing a new source of rare earths in Mongolia, we plan to help secure the supply chain of these materials to America and its allies, preventing the likelihood of shortages.”
The joint venture is now seeking qualified individuals to be sponsored for valid business visas in Mongolia. Interested parties can learn more at http://www.RareEarthExporters.com/careers.html.
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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