|By Business Wire||
|July 26, 2012 05:01 AM EDT||
GTSO Resources, the fast-growing mining subsidiary of Green Technology Solutions, Inc. (OTCBB:GTSO), opened negotiations this week with promising urban mining companies with help from its new Chilean business specialists.
Earlier this week, GTSO signed a letter of intent with CCI Capital SpA to forge an agreement to pursue urban mining business targets in Chile. CCI Capital, a Chilean corporation, maintains offices in the capitol city of Santiago, Chile, as well as Canada. The company has strong business ties in both countries.
“CCI has the experience and connections in Chile to help us get up and running in the country more quickly and efficiently,” said GTSO CEO Paul Watson. “We expect that their relationships with leadership in Chile’s government and the corporate world will make it possible to close lucrative deals in the urban mining space, and we’re extremely pleased to be opening negotiations with Chilean companies already.”
GTSO is currently in negotiations toward a definitive agreement with CCI Capital. After finalizing a consulting or partnership arrangement, GTSO plans to utilize CCI Capital’s presence and expertise in Chile to provide closing and operational support.
Chile is a world leader in mining, which accounts for about 47 percent of the nation’s exports and eight percent of its GDP. GTSO has targeted Chile due its low labor costs, less onerous regulations for recycling of e-waste and mining infrastructure, lowering the barriers to building a successful urban mining business model.
More than 7,820 tons of gold and silver alone are used to manufacture new electronics each year, a mineral value of $21 billion. GTSO believe that urban mining, or e-waste recovery, holds the key to a profitable, sustainable market for high-tech electronics.
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).
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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