Green Technology Solutions, Inc. has announced that its joint venture with Rare Earth Exporters of Mongolia (REE) plans to ship its first batch of rare earth ore from Mongolia in April to be sold to the highest bidder.  “We’ve been told by embassy officials that Mongolia is over-reliant on trade with China and that the government seeks to encourage trade with other nations, such as the U.S.”

GTSO President and CEO John Shearer said that the rare earth ore will be sent by truck from the mines to Ulaanbaatar, where it will be shipped by rail to the international seaport of Vladivostok, Russia. While in port, the ore will be sold to the government or corporation that places the highest bid.

“We’re targeting April for this initial shipment, but the final shipping date may well come sooner,” Shearer said. “We’ve already been contacted by interested parties hoping to purchase Mongolian rare earths from us, and we plan to begin fulfilling demand as soon as we possibly can.”

GTSO and REE formed their joint venture last month to obtain rare earth mining claims and operations in Mongolia. The global supply of rare earth elements, vital to worldwide manufacturing of everything from consumer electronics to superconductors, is dominated by China. The emerging Communist superpower produces more than 95 percent of the world’s rare earths and has repeatedly slashed mining permits and export quotas in recent years as part of the government’s global economic strategy. However, many experts believe that China’s neighbor to the north, Mongolia, contains rare earth deposits rivaling any in the world.

GTSO’s joint venture plans to tap into those deposits to checkmate China’s iron grip over the critical materials and ensure a dependable supply stream to the U.S. and its allies. Last week, the JV executed a new land lease agreement in Mongolia’s mineral-rich province of Tuv. Negotiations for additional mining properties inside the developing nation are ongoing.

Shearer sent a letter last Wednesday requesting the Embassy of Mongolia’s assistance in guiding the joint venture through the proper channels and authorities in transporting mining ore within the country. GTSO is in communication with Russian Railways for the purpose of coordinating rail transport of its mining ore from Ulan Bator to Vladivostok. The company’s strategic exporting plan purposefully avoids moving any mining ore through China.

“We’ve been told by embassy officials that Mongolia is over-reliant on trade with China and that the government seeks to encourage trade with other nations, such as the U.S.,” Shearer said. “We are taking pains to follow the letter of the law in the nation of Mongolia in order to ensure that our dealings there are mutually beneficial.”