Aug 1 2012
Oil, gas and now precious metals from discarded Apple (NASDAQ: AAPL) iPhones and other electronics: For emerging companies such as Green Technology Solutions, Inc., Texas is truly the land of opportunity.
“We are eager to explore the opportunities within this exciting sector in markets where supply is great and competition is weak”
Earlier this week, the company's mining subsidiary, GTSO Resources opened negotiations with a Texas-based urban mining company it has targeted for potential joint venture or acquisition. With billions of dollars in gold, silver, lithium and other precious minerals locked up worldwide inside of obsolete and discarded smartphones, computers and other gadgets, GTSO has placed a priority on positioning itself to capitalize on the booming e-waste recycling industry.
Innovators in this new "urban mining" space could be in store for huge growth as it becomes more affordable to reclaim valuable manufacturing resources from disused electronics than to dig them out of the ground. GTSO believes its new target could help put its business on the cutting edge of the mining industry.
"We are eager to explore the opportunities within this exciting sector in markets where supply is great and competition is weak," said GTSO CEO Paul Watson. "Finding this combination right here in the U.S. could be the perfect storm that pays off big for GTSO and our shareholders."
The details of the transaction are in the initial stage of analysis, but GTSO is excited to potentially add partners in the U.S. to its growing asset base. The company hopes to have an announcement on a possible transaction early next week.
Urban mining is only part of GTSO's plans to compete alongside major international corporations striving for sustainable manufacturing solutions, such as Honda Motor Company (HMC), 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 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 our website at www.GTSOresources.com/investors.html
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