SAN JOSE (Scrap Monster): GTSO Resources, a wholly owned mining subsidiary of Green Technology Solutions, Inc. (OTCQB:GTSO), has announced that it has opened talks with a potential urban mining target with operations in Chile through a consulting partner with offices within the country and in Canada.
GTSO CEO Paul Watson said that the company plans to sign letters of intent with both entities and begin conducting due diligence toward definitive agreements in the coming weeks.
"As discarded cell phones, computers and other electronics continue to pile up around the world, we believe urban mining will grow into a massive international industry faster than most people realize," Watson said.
GTSO Resources continues to pursue traditional tungsten mining opportunities around the globe with the help of its joint venture partner, Diamond V Associates, Inc. The company views urban mining as an ideal hedge to leverage growing demand for sustainable mining solutions while GTSO pursues traditional mining operations through its partners and global network.
As the market for sophisticated personal electronics such as tablets and smartphones explodes worldwide, the demand for the minerals, regardless of sourcing method, continues to explode.
GTSO plans to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes Woulfe Mining Corp. (WOF.V), Newmont Mining Corp.(NYSE: NEM), North American Tungsten Corporation Ltd. (NTC.V) and Barrick Gold Corp. (NYSE: ABX).
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