Jun 18 2012
Even as emerging mining company GTSO Resources, a wholly owned subsidiary of Green Technology Solutions, works to develop new tungsten mining projects as far away as Africa, the company is also exploring a new way to extract rare and valuable minerals much closer to home through a process known as "urban mining."
“Cell phones and other electronics contain a gold mine of valuable minerals that can be recovered much more economically than the elements dug out of the ground”
Every day, consumers in the U.S. and other developed nations replace hundreds of thousands of smartphones, computers and other personal electronics. Sometimes these devices are replaced in order to be upgraded to a more advanced model; others are simply cheaper to replace than repair.
Urban mining is the process of acquiring these old, unwanted electronics and stripping them of valuable materials to be resold for a profit. In addition to keeping toxic metals out of landfills, urban mining could also prove to be a golden opportunity for investors.
"Cell phones and other electronics contain a gold mine of valuable minerals that can be recovered much more economically than the elements dug out of the ground," said GTSO CEO Paul Watson. "When disused electronics are processed and the materials separated, valuable metals including, tungsten, gold, platinum, iridium and more that can be sold on as high quality raw materials to build new products.
"With metals prices continuing to rise, we believe urban mining could add a new, potentially lucrative revenue stream to our business model," he said.
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. (CVE: WOF), Newmont Mining Corp. (NYSE: NEM), North American Tungsten Corporation Ltd. (CVE: NTC) 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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