Aug 8 2012
Sustainable urban mining practices could help dramatically reduce the world's carbon emissions, and Green Technology Solutions (OTCBB: GTSO) mining subsidiary GTSO Resources has identified the nations of Canada and Chile as ideal testing grounds for innovative and potentially lucrative new recycling efforts.
“We believe that urban mining is critical to affordable, sustainable manufacture of electronics, and by carving out an early position in this rising sector, GTSO could become the next Sims”
By recycling a ton of steel, carbon emissions can be reduced by 2.1 tons. A ton of recycled aluminum eliminates 7.9 tons of emissions, and a ton of recycled computers reduces emissions by four tons. As concern over pollution and climate change grows around the world, demand for recycled materials is skyrocketing, and the market opportunity is not lost on GTSO.
"The global leader in metals recycling, Sims Metal Management (NYSE: SMS), recycled enough appliances and refrigerators to stretch end-to-end from Tokyo to New York in 2010," said GTSO CEO Paul Watson. "The shareholders who invested early in that company are probably very happy with their decision."
"We believe that urban mining is critical to affordable, sustainable manufacture of electronics, and by carving out an early position in this rising sector, GTSO could become the next Sims," he added.
Last month, GTSO signed a letter of intent with business facilitators CCI Capital SpA to pursue urban mining targets in Canada and Chile. Both industrialized nations have significant and rising streams of e-waste to deal with as well as the necessary mining infrastructure to capitalize on the deposits of gold, lithium, tungsten and other rare and valuable minerals found in discarded and obsolete electronics, such as earlier models of Apple's (NASDAQ: AAPL) iPhone and iPad.
Urban mining is a major pillar of GTSO's plans to compete alongside major international corporations striving for sustainable manufacturing solutions, such as Sprint Nextel Corp. (NYSE: S) and Toyota Motor Corporation (NYSE: TM). The company is also exploring traditional mining opportunities in the U.S. and Africa through its joint venture with Diamond V Associates.