SAN JOSE, Calif.--(BUSINESS WIRE)--Only a day after the addition of a new mining and exploration consultant to its rare earth mining team, Green Technology Solutions, Inc. (OTCQB: GTSO) revealed today that its Mongolian operation has grown by one more. GTSO and REE engaged a legal and business consultant through their Mongolian agent company to help guide the joint venture through the process of acquiring new rare earth mines and operations in the mineral-rich nation.
The joint venture tabbed legal and business consultant Ulziijargal Nergui to assist in drafting Mongolian legal documents and fostering local business relationships. Ulziijargal will join Mongolian attorney H. Orennxapran in assisting the joint venture to strictly adhere to Mongolian law as it pursues mining claims and properties there.
“We signed a letter of intent earlier this week to develop a new licensed rare earth mine in Mongolia’s Tuv province, and we don’t plan on stopping there,” said GTSO President and CEO John Shearer. “We’re in negotiations already regarding other rare earth mining properties in Mongolia, and we will rely on Ulziijargal Nergui’s expertise to help us write new agreements promptly and smoothly.
“Our joint venture has placed a high priority on following Mongolian mining laws to the letter, particularly since we’ve asked the Embassy of Mongolia for its assistance,” he said.
The joint venture was formed earlier this year in response to further decreases in rare earth export quotas from China, the world’s dominant rare earth producer. The rise of green technology over the past two decades has caused manufacturing demand for the critical materials to skyrocket, leading many industry experts to fret over potential supply shortages. Mongolia is estimated by many to contain rare earth deposits that rival those of its Communist neighbor China. By developing new rare earth mining operations in Mongolia, GTSO and REE plan to help secure essential rare earth supplies for manufacturers in the U.S., Japan, South Korea and elsewhere.
For more information on the joint venture’s Mongolian strategy, please visit http://www.rareearthexporters.com.
“The troubling pollution threat currently emanating from Japan’s Fukushima Daiichi nuclear power plant is a stark reminder that humanity’s transition to a green energy society is an absolute necessity,” Shearer said. “A stable, affordable supply of rare earth elements is crucial to efforts inside the U.S. and its allies to develop the next generation of high-tech solutions to the world’s energy demands.”
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Molycorp, Inc. (NYSE: MCP), Nippon Telegraph and Telephone (NYSE: NTT), Sony Corp. (NYSE: SNE) and BHP Billiton (NYSE: BHP).
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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