Mar 2 2011
Green Technology Solutions, Inc. (OTCBB:GTSO) announced today that its representatives are scouting Mongolia for new rare earth mining claims ideally suited to the company's goals.
GTSO and Rare Earth Exporters of Mongolia (REE) formed a joint venture in February to pursue rare earth mining claims and operations in the developing Asian nation.
Last month, GTSO and REE engaged Mongolian Reconnaissance Survey, LLC (MRS). MRS is officially registered by the Mongolian Registration Office and was founded by Mongolian citizens experienced and qualified in geology, exploration and mining operations. The company specializes in geological exploration and mapping.
The acquisition of Mongolian mining claims and operations is key to the joint venture's plans to develop stable sources of rare earths outside of China. Currently, China produces more than 90 percent of the global supply of rare earths, which are critical to the manufacture of defense systems and weapons, flat-screen televisions, Apple iPads, electric motors and wind turbines, among many other uses. Over the past 20 years, China has cultivated a strategic near-monopoly on the production of rare earths, regulating exports and mining permits.
Most of China's rare earths are mined in its Inner Mongolia province, which is adjacent to the nation of Mongolia. Many experts believe Mongolia contains rare earth deposits rivaling those of China. GTSO and REE plan to acquire mining claims and operations there and transport rare earth ore by rail to the international seaport of Vladivostok, Russia, to be shipped to the U.S., South Korea, and Japan. Last month, GTSO opened a rare earth transport office in the Mongolian capital of Ulan Bator. Headquartered at the new office are Dorj Atantagos, the joint venture's new Director of Mongolian Operations, and Atarbold Chimedregzen, its new Mongolian Director of Shipping and Exports. Both are Mongolian citizens. Additional personnel are being aggressively recruited to fill out the transportation office's staff. For career info, please visit http://www.rareearthexporters.com/careers.
Last week, GTSO announced that it approached freight services provider Russian Railways regarding the transport of rare earth ore from Mongolia to Vladivostok. Russian Railways is a major freight provider on the Eurasian continent, offering international freight services for ore and many other types of commodities. The company provides rail service traversing Mongolia from south to north, including passage through Ulan Bator.
Source: Green Technology Solutions, Inc.