SAN JOSE, Calif.--(BUSINESS WIRE)--As Green Technology Solutions, Inc. (OTCQB:GTSO) works to secure new sources of rare earth elements in Mongolia, Kenya, Botswana and elsewhere, demand for the critical elements continues to rise worldwide.
Bloomberg reported Friday that the U.S. Geological Survey told Congress’ House Natural Resources Committee that global demand for rare earths will increase at a rate of eight percent annually as production of green energy projects, tablet computers, smartphones and hybrid vehicles expands around the world. Domestic manufacturers concerned by potential supply shortages urged Congress last week to help reduce the U.S.’s dependence on China for its rare earth supplies. The Communist superpower, which produces more than 95 percent of the world’s rare earth supplies, alarmed many manufacturers around the globe by announcing last July that it would cut its export quotas by more than 70 percent despite growing global demand. In the months since, mineral prices have skyrocketed.
Fears of potential supply shortages spurred by China’s new policies and ever-increasing demand for the rare elements have made rare earth resources a legislative issue. Congress is currently considering two bills requiring the Interior Department to report regularly on U.S. critical mineral resources. In a report last year, the Energy Department declared U.S. supplies “at risk.”
Access to rare earths is crucial to keeping the U.S. and its allies globally competitive and militarily secure. That is why Green Technology Solutions is working to help eliminate the risk of supply shortages. The company has signed agreements to develop new rare earth mines in Mongolia, the Republic of Congo, Botswana, Kenya and other friendly emerging nations. Currently, GTSO is working to finalize a profit agreement with Ar Erkhes, LLC, in preparation for its first shipment of rare earth ore from Mongolia to South Korea, a close military and economic ally of the U.S. By developing new sources of rare earths outside of China, GTSO plans to help eliminate a strategic vulnerability for the U.S. and its top manufacturers.
For more information on the GTSO’s mineral export strategy, please visit http://www.rareearthexporters.com.
Green Technology Solutions 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), Honda Motor Co., Ltd. (NYSE:HMC) and 3M Co. (NYSE:MMM).
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 to 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 impacts 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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