SAN JOSE, Calif.–(BUSINESS WIRE)–
As the mining subsidiary of Green Technology Solutions (GTSO),
GTSO Resources, closes in on a purchase agreement with Global
Cell Buyers, it appears as though the deal couldn’t come at a better
time. The impending release of Apple’s (AAPL) iPhone 5 is set to
unleash an onslaught of mineral-rich e-waste into the marketplace.
How many iPhone 5s is Apple expected to sell? JP Morgan recently
predicted that the electronics giant would move enough new units to add
half a percent to the U.S. GDP. That means consumers will be replacing a
lot of smartphones with this hot new model—millions of them. What’s
more, the iPhone 5 does away with Apple’s classic 30-pin connector,
meaning that millions of electronic cables, attachments and accessories
are now obsolete as well.
GTSO has plans to help turn this trash into cash.
“The EPA reports that in 2010, 2.44 million tons of electronics were
discarded in the U.S. alone,” said GTSO CEO Paul Watson. “That’s an
incredible windfall of lithium, gold, neodymium, rare earths and other
valuable materials headed for the dump. Soon, we plan to send it to the
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. The GTSO Resources is in
talks with a leading e-waste recycler in Latin America, as well.
“We’re in the final stages of negotiation and plan to announce a
completed agreement very soon,” Watson said.
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. (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
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.
Follow us on Twitter at www.twitter.com/gtsoresources.
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