Green Technology Solutions, Inc., a company that focuses on identifying, selecting, and cultivating green technologies in order to develop them into market products, continues its preparations to send core samples from three Mongolian rare earth mining sites to South Korea for analysis as the prices for heavy rare metals have increased by more than double because of China’s more strict control of rare earth mining, production, and exports.
A U.K. trade publication Industrial Metals had reported last week that rare earth metals europium oxide and dysprosium oxide, utilized in high-tech applications from smartphones to nuclear reactors, have increased by more than 100 percent since the start of the month. The incredible jump in rare earth prices is due to, according to many analysts, China’s efforts to tighten up exports. The Wall Street Journal had reported last week that China is creating a reserve of rare elements, a plan that may give the Asian titan even more influence over global rare earth prices and supplies for a sector that it already dominates over.
The decision to build reserves emerges even as China’s rare earth exports are shrinking in midst of increasing demand. Currently, China has control of more than 95 percent of the global supply of rare earth, which includes some of the most sought-after metals used in modern manufacturing. The heavy metals are very important to the production of green technology solutions, which include wind turbines, solar panels and hybrid-care batteries, along with military equipments such as laser-guided weapons, and night-vision goggles.
Green Technology Solutions, along with other mining developers around the globe, have responded to the reductions in Chinese export quotas by working to begin rare earth production somewhere else. Early on this month, Green Technology announced that it has signed a Profit Participation Agreement (PPA) with Ar Ekhes, LLC, a Mongolian mining and trade company, in order to facilitate rare earth mining sites in the developing nation in Asia. The company is currently preparing to send out core samples from each of these mining sites to South Korea’s resource development company KORES for analysis to reassure future buyers of the density and quality of the rare earth elements that are found.
Once the analysis is finished, Green Technology Solutions will move onwards to capitalize on the international increases in rare earth prices by shipping Mongolian rare earths through the international seaport of Vladivostok, Russia, for its shipment to South Korea.
Green Technology Solutions is also in midst of negotiations to develop rare earth resources in the Republic of Congo, Botswana, Kenya, and other nations in southern Africa. Green Technology Solutions, Inc. commercializes its clean and renewable mining products and technology in a sector that includes MV Rare Earth/Strategic Metals (REMX), General Dynamics Corp. (GD), General Electric Co. (GE), and 3M Co. (MMM).
For more information on Green Techology Solutions, Inc. and its products, visit their company website at: www.GreenTech-Solutions.com
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