Info about Japanese mkt dem for REEsSome info about Japanese market demand for REEs mined from the following press release...
https://www.businesswire.com/news/home/20110329005735/en/GTSO-JV-Pledges-Rare-Earth-Supplies-Aid
March 29, 2011 09:00 AM Eastern Daylight Time
GTSO JV Pledges New Rare Earth Supplies to Aid Japan Quake Recovery
Company to Earmark Rare Earth Ore for Japanese Manufacturing Revitalization
SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions Inc. (OTCQB:GTSO) announced today that its rare earth mining joint venture in Mongolia plans to commit a sizeable portion of new product mined from its properties for export to Japan to assist in the country’s earthquake and tsunami recovery efforts.
“The company already planned to earmark a sizable portion of our Mongolian rare earth ore for export to Japan before the quake hit, but we are now committed to helping ensure that Japanese manufacturers have access to all of the critical materials they need to recover”
The world’s third-largest economy, Japan is the top importer of rare earth. Currently, Japan accounts for about half of all rare earth exports from China, the nation responsible for more than 95 percent of global rare earth production. Rare earth elements are particularly crucial to the manufacture of automobiles, which use cerium in their glass, lanthanum in their batteries and neodymium in their electronics. Some factories were destroyed or closed due to infrastructure damage caused by the disastrous earthquake and tsunami that struck the island nation.
GTSO President and CEO John Shearer said Monday that while the disruption in Japanese manufacturing could cause a dip in the country’s demand for rare earths, rebuilding efforts in Japan will soon spark increased demand for the critical materials.
“Japan must now face the tough task of rebuilding its energy and manufacturing infrastructure,” Shearer said. “The Japanese government said last week that construction and other costs related to the rebuilding effort could total as much as $308 billion. We expect the country’s demand for rare earth to increase dramatically as its recovery begins in earnest.
“With China increasingly constraining its rare earth supplies, new producers will need to step forward to fulfill that increased demand,” he said. “Green Technology Solutions plans to do its part to help.”
GTSO and Rare Earth Exporters of Mongolia formed a joint venture earlier this year to develop new sources of rare earth elements in Mongolia, China’s neighbor to the north. The joint venture has signed letters of intent to develop four rare earth mines in the developing Asian nation so far, with plans to ship ore from its mining properties to the nearby seaport of Vladivostok, Russia, for export to Japan, South Korea, and the U.S.
For more information on the joint venture’s export strategy, please visit https://www.rareearthexporters.com.
“The company already planned to earmark a sizable portion of our Mongolian rare earth ore for export to Japan before the quake hit, but we are now committed to helping ensure that Japanese manufacturers have access to all of the critical materials they need to recover,” Shearer said.
In addition to Japan’s reconstruction efforts, the country’s unnerving nuclear crisis could also increase demand for rare earth in the region. The calamity has refocused attention in Japan and around the globe on building cleaner and safer power sources such as wind farms. That could fuel longer-term demand for elements such as neodymium, which is used to build magnets in wind turbines.
This week, Shearer will travel to Arizona to inspect the Rio Del Monte Mining properties near Salome, La Paz County. GTSO signed a letter of intent last week to acquire the mining claims and develop them into a domestic source of rare earth elements.Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that affects Sony Corp. (NYSE: SNE), Toyota Motor Corp. (NYSE: TM), MV Rare Earth/Strategic Metals (NYSEArca: REMX) and Honda Motor Co. (NYSE:HON).
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 https://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