SAN JOSE, Calif.--(BUSINESS WIRE)--New legislation in Chile to regulate the electronic-waste market in the 600-million resident Latin America region is expected to reserve that portion of the global $13 billion sector for established recycling companies such as Green Technology Solutions, Inc. (OTCBB: GTSO) and its partners.
Latin America, and Chile in particular, have been saddled by a lack of regulation in the e-waste market. Black market operators and scrap metal dealers dilute the market in that area for environmentally conscious operators such as GTSO and its joint venture partner Chilerecicla. But new legislation the current Chile government wants to send to Congress more thoroughly regulates the level companies must achieve in their e-waste protocols.
“This new regulation aids established formal e-waste and recycling companies such as GTSO and Chilerecicla, providing us a competitive advantage in the marketplace,” GTSO CEO Paul Watson said. “This legislation will ensure we can properly recycle precious metals in Chile, sort it and grade it then send it to Europe for smelting instead of having it end up in a landfill somewhere in Latin America.”
Urban mining is pivotal to GTSO’s vision to compete alongside major international corporations striving for sustainable waste solutions, such as Covanta Holding Corporation (NYSE: CVA), Industrial Services of America (NASDAQ: IDSA) and Sims Metal Management Ltd. (NYSE: SMS). Late last year, GTSO acquired the company Global Cell Buyers and soon after rebranded the company as Green Urban Mining to handle its domestic recycling and resale operations.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit http://www.gtsoresources.com/investors.html.
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