GTSO Steps Up Pursuit of Urban Mining Targets in Chile
SAN JOSE, Calif.--(BUSINESS WIRE)-- GTSO Resources, the mining subsidiary of Green Technology Solutions, Inc. (OTCBB: GTSO), will evaluate potential acquisitions and partnering opportunities in Chile's urban mining sector in 2013, the Company announced today.
In line with GTSO's focus on urban mining opportunities in emerging economies, the Company has already commenced with on-the-ground due diligence on a number of Chilean firms through its consultants at CCI Capital SpA. GTSO operations consultant Rodrigo Cordova is currently in Chile to further talks with the company's targets near Santiago.
"We're looking for partners that can provide comprehensive management services and processes for the recycling of electrical and electronic equipment in Chile," said GTSO CEO Paul Watson. "We're in talks now with some prominent e-waste recyclers there that we look forward to announcing and working with in the very near future."
Chile has been a major focus of GTSO's efforts to expand its urban mining footprint due to its high rate of industrialization, affordable labor and local business connections with CCI Capital. Today, more than 95 percent of Chileans have a mobile phone. These phones have an average life span of less than two years, and a huge market is developing in Chile and around the world to keep the highly valuable and highly toxic materials used to build them out of landfills.
Urban mining is a major pillar of the Company'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) . Late last year, GTSO acquired the company Green Urban Mining to handle the company's recycling and resale operations.
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 the 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 South America Chile California Africa
The article GTSO Steps Up Pursuit of Urban Mining Targets in Chile originally appeared on Fool.com.