SAN JOSE, Calif.--(BUSINESS WIRE)--GTSO Resources, the fast-growing mining subsidiary of Green Technology Solutions, Inc. (OTCBB:GTSO), signed a consulting agreement with CCI Capital SpA for leads, negotiation and operational support on promising new urban mining business targets in Chile and Canada.
CCI Capital, a Chilean corporation, maintains offices and strong business ties in both countries, giving GTSO a strong business presence in major economies on two continents. The company plans to utilize CCI’s Chilean expertise to help identify, close and develop new and existing opportunities in the growing urban mining industry.
“We’re very hungry to expand our presence in the red-hot urban mining sector, and CCI’s relationships inside Chile’s government and corporate sphere can help us close potentially lucrative deals there,” said GTSO CEO Paul Watson. “They’ll assist us in developing our business model, selecting partnering prospects and closing deals in territories they are very familiar with.”
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.
According to the latest Frost & Sullivan report, the global e-waste recycling (urban mining) market was estimated to be worth $1.42 billion in 2011, and they predict the market will grow to $1.86 billion by 2017. The added potential is tremendous, with current forecasts estimating that more than 7,820 tons of gold and silver alone are used to manufacture new electronics each year—a mineral value of $21 billion.
Thanks to that kind of growth, GTSO believes that urban mining 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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