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Green Technology Solutions (GTSO) President and CEO John Shearer met on March 2 with a commercial attachй at the Embassy of Mongolia in Washington, D.C., to coordinate and expedite new rare earth exports from the developing Asian nation.
GTSO and Rare Earth Exporters of Mongolia (REE) have formed a joint venture to pursue rare earth mining claims and operations in Mongolia. The joint venture plans to convey Mongolian mining products overland to railway for transport to the international seaport of Vladivostok, Russia, in order to avoid shipping through China. Destination ports for these mining products are set to include the U.S., Japan and South Korea, checkmating China’s strategic export policies.
Rare earth elements are critical to the manufacture of products such as batteries, solar cells and advanced electric motors in addition to strategic defense and weapons systems. Today, more than 90 percent of the global supply of rare earth elements is produced in China. The vast majority of China’s rare earths are mined in the country’s Inner Mongolia region, which lies along the southern border of the nation of Mongolia. Many experts believe that Mongolia contains rare earth deposits that rival those of China.
By developing a new source of rare earths outside of China, GTSO aims to counter the rising security threat posed by China’s near-monopoly over materials critical to the U.S.’s energy and defense industries. The government of Japan recently announced that it would promote projects to develop rare-earth minerals in Mongolia in an effort to diversify sources of materials needed for high-tech products.
GTSO and Rare Earth Exporters of Mongolia (REE) have formed a joint venture to pursue rare earth mining claims and operations in Mongolia. The joint venture plans to convey Mongolian mining products overland to railway for transport to the international seaport of Vladivostok, Russia, in order to avoid shipping through China. Destination ports for these mining products are set to include the U.S., Japan and South Korea, checkmating China’s strategic export policies.
Rare earth elements are critical to the manufacture of products such as batteries, solar cells and advanced electric motors in addition to strategic defense and weapons systems. Today, more than 90 percent of the global supply of rare earth elements is produced in China. The vast majority of China’s rare earths are mined in the country’s Inner Mongolia region, which lies along the southern border of the nation of Mongolia. Many experts believe that Mongolia contains rare earth deposits that rival those of China.
By developing a new source of rare earths outside of China, GTSO aims to counter the rising security threat posed by China’s near-monopoly over materials critical to the U.S.’s energy and defense industries. The government of Japan recently announced that it would promote projects to develop rare-earth minerals in Mongolia in an effort to diversify sources of materials needed for high-tech products.
