GTSO Eyes April for First Shipment of Mongolian Rare Earth Ore

Rare Earths to be Sent by Rail to Russia and Sold to Highest Bidder

SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCBB:GTSO) announced today that its joint venture with Rare Earth Exporters of Mongolia (REE) plans to ship its first batch of rare earth ore from Mongolia in April to be sold to the highest bidder.

GTSO President and CEO John Shearer said on Friday that the rare earth ore will be sent by truck from the mines to Ulan Bator, Mongolia’s capital, where it will be shipped by rail to the international seaport of Vladivostok, Russia. While in port, the ore will be sold to the government or corporation that places the highest bid.

“We’re targeting April for this initial shipment, but the final shipping date may well come sooner,” Shearer said. “We’ve already been contacted by interested parties hoping to purchase Mongolian rare earths from us, and we plan to begin fulfilling demand as soon as we possibly can.”

GTSO and REE formed their joint venture last month to obtain rare earth mining claims and operations in Mongolia. The global supply of rare earth elements, vital to worldwide manufacturing of everything from consumer electronics to superconductors, is dominated by China. The emerging Communist superpower produces more than 95 percent of the world’s rare earths and has repeatedly slashed mining permits and export quotas in recent years as part of the government’s global economic strategy. However, many experts believe that China’s neighbor to the north, Mongolia, contains rare earth deposits rivaling any in the world.

GTSO’s joint venture plans to tap into those deposits to checkmate China’s iron grip over the critical materials and ensure a dependable supply stream to the U.S. and its allies. Last week, the JV executed a new land lease agreement in Mongolia’s mineral-rich province of Tuv. Negotiations for additional mining properties inside the developing nation are ongoing.

Shearer sent a letter last Wednesday requesting the Embassy of Mongolia’s assistance in guiding the joint venture through the proper channels and authorities in transporting mining ore within the country. GTSO is in communication with Russian Railways for the purpose of coordinating rail transport of its mining ore from Ulan Bator to Vladivostok. The company’s strategic exporting plan purposefully avoids moving any mining ore through China.

“We’ve been told by embassy officials that Mongolia is over-reliant on trade with China and that the government seeks to encourage trade with other nations, such as the U.S.,” Shearer said. “We are taking pains to follow the letter of the law in the nation of Mongolia in order to ensure that our dealings there are mutually beneficial.”

For more information on the joint venture’s transportation strategy, please visit http://www.rareearthexporters.com.

Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes Cameco Corp. (NYSE: CCJ), Panasonic Corporation (NYSE: PC), Northrop Grumman Corporation (NYSE: NOC) and Rare Element Resources Ltd. (AMEX: REE).

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.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contacts

Green Technology Solutions, Inc.
John Shearer, 408-432-7285
President and CEO



Share:

0 comments:

Post a Comment

Facebook page

Powered by Blogger.

Categories

Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive

Followers

Live Traffic