SAN JOSE, Calif.--(BUSINESS WIRE)--Please replace the release with the following corrected version due to a new headline and multiple revisions.
The corrected release reads:
MONGOLIAN RAIL EXPANSION MAY QUICKLY MULTIPLY GTSO RARE EARTH EXPORT CAPABILITIES
Expansion of Rail System Could Also Dramatically Reduce Rare Earth Shipping Costs
Green Technology Solutions, Inc. (OTCQB: GTSO) and other mining developers are very pleased with Mongolia’s drive to quadruple its railroad network, boosting economic development and lowering transportation costs in the sparsely populated Central Asian nation.
Bloomberg reported last week that Mongolia is making plans to lay 3,542 miles of new track across the landlocked country to ports in Eastern Russia, streamlining exports of mining products and other commodities to trading partners around the world. The massive infrastructure investment stems from the Mongolian government’s desire to diversify trade and reduce dependence on China, the recipient of more than 75 percent of Mongolia’s exports. The rail improvements could also help Mongolia capitalize on new rare earth taxes and regulations instituted in recent years by China, the world’s dominant rare element producer.
“This announcement is further proof of GTSO’s belief that Mongolia is uniquely positioned for a rare earth mining boom,” said GTSO President and CEO John Shearer. “China has opted for a tighter grip on its own rare earth reserves, and Mongolia contains untapped deposits that rival those of any nation on earth. Modernization of the country’s transportation infrastructure will make Mongolian mining ventures even more attractive to foreign investors.
“We feel GTSO has been well positioned to fully capitalize on a new boom in rare earth production,” he said.
GTSO is currently working to secure the mining rights to four mineral-rich properties in Mongolia. In February, the company formed a joint venture with Rare Earth Exporters of Mongolia (REE) to develop new sources of rare earth elements outside of China. After the joint venture’s agents signed letters of intent to develop the four mining sites in Mongolia, GTSO announced plans to acquire REE as a wholly owned subsidiary, potentially positioning itself as the sole rights holder to the new properties.
Even before the Mongolian government announced its intent to expand and improve the nation’s rail infrastructure, GTSO was drawing up plans to truck rare earth ore from mines across the country to the capital city of Ulan Bator. There, the ore can be loaded onto freight cars and shipped by rail to the international seaport of Vladivostok, Russia, for export to South Korea, Japan and the U.S.
For more information on GTSO’s rare earth transportation strategy in Mongolia, please visit http://www.rareearthexporters.com.
“By shipping these materials through Russia, GTSO will be able to market rare earths to buyers around the world,” Shearer said. “By avoiding Chinese ports, we’ll be able to set our own price to maximize the commercial value of these commodities while helping to break China’s stranglehold over global rare earth supplies.”
Shearer will travel to Ulan Bator next month to coordinate GTSO’s first export shipment of rare earth ore to South Korea.
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Rare Element Resources Ltd. (AMEX:REE), MV Rare Earth/Strategic Metals (NYSEArca:REMX), General Electric (NYSE:GE)and Honeywell International Inc. (NYSE:HON).
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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