GTSO: Escalating Mining Costs Highlight Renewable Sources
SAN JOSE, Calif.--(BUSINESS WIRE)-- As Green Technology Solutions' (OTCBB:GTSO) leadership explores new opportunities in traditional mining this week at MINExpo 2012, the world's premiere convention for mining equipment, products and services, the company is gaining a sense of renewed faith from industry leaders.
According to Richard O'Brien, CEO of Denver-based Newmont Mining Corp (NEM), gold has enjoyed a bull market for 11 years straight, and it's just in the middle of its good times. However, the time from discovery to production has jumped from an average of 10 years a decade ago to nearly 17 years today. This is where urban mining has tremendous earning potential since key minerals are already mined, processed and ripe for recovery.
Urban mining is the commercial process of reclaiming valuable minerals such as lithium, gold, neodymium and rare earths. A report last month by market analysts Frost and Sullivan forecast that the global e-waste recycling services market could grow to nearly $2 billion by 2017, up from $1.42 billion in 2011.
At MINExpo 2012, Green Technology Resources' mining subsidiary, GTSO Resources, is working to network and partner with companies from around the world with expertise in traditional and urban mining in order to capitalize on the strong growth predicted for the industry.
With help from its partners, GTSO is positioning itself as a leader among domestic urban miners. Earlier this month, GTSO Resources signed a letter of intent to acquire Global Cell Buyers, an emerging U.S.-based e-waste recycling company, a move that could potentially allow GTSO to optimize recovery of pricey minerals from unwanted cell phones. GTSO Resources is also in talks with a leading e-waste recycler in Latin America.
For more information on these initiatives, please visit www.GTSOResources.com/investors.html.
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. (NYS: S) and Toyota Motor Corporation (NYS: TM) . The company is also exploring traditional mining opportunities in the U.S. and Africa through its joint venture with Diamond V Associates.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.gtsoresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit our website at www.GTSOresources.com/investors.html.
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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.
Green Technology Solutions, Inc.
Paul Watson, 408-432-7285
President and CEO
KEYWORDS: United States North America California Nevada
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