SAN JOSE, Calif.–(BUSINESS WIRE)–
Green Technology Solutions’ (GTSO) mining subsidiary, GTSO
Resources moves strategically towards
game-changing opportunities in the rapidly growing “urban mining” space
with promising recycling companies in the pipeline.
GTSO has shortlisted a select group of emerging companies capable of
recycling cell phones, computers and other electronics to recover
precious minerals inside their components; including tungsten, gold,
platinum, palladium and others. GTSO has begun the process of contacting
these businesses and opening talks regarding potential joint ventures
Each of the shortlisted companies is based in North America, where GTSO
plans to test and optimize urban mining operations before expanding the
concept around the world.
Increasingly, electronic waste holds enough precious metals, rare earth
elements and other key materials to sustain modern industrial demands.
To sustain this need, however, discarded electronics must be recovered
instead of being thrown away.
With six billion cell phone connections worldwide and many upgrades of
handsets every 18 months, mobile devices have become the perfect pilot
for urban mining. Japan has the equivalent of 16 percent of the world’s
gold reserves, 6,800 metric tons, sitting idle in old cell phones,
according to the country’s National Institute for Materials Science.
That outstrips South Africa’s 6,000 metric tons of gold deposits. The
U.S. could potentially be sitting on even more.
“GTSO is excited about our progress in the second quarter of 2012 and
plans to refine both our traditional and urban mining operations to meet
the growing demand for endangered minerals such as tungsten,” said GTSO
CEO Paul Watson. “Demand and prices for valuable metals have risen to
unprecedented levels, and we feel we’re well-positioned to capitalize.”
GTSO plans to service a fast-growing global appetite for rare and
precious metals to compete in an exciting sector that includes Woulfe
Mining Corp. (WOF.V), Newmont Mining Corp. (NYSE: NEM), North American
Tungsten Corporation Ltd. (NTC.V) and Barrick Gold Corp. (NYSE: ABX).
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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