SAN JOSE, Calif.--(BUSINESS WIRE)--
As the traditional mining industry slows down year on year, Green Technology Solutions, Inc. (GTSO) believes that a major shift toward e-waste recycling is the solution to keeping manufacturers worldwide supplied with the commodities they need to create the next wave of electronic innovations.
The Wall Street Journal reported on Thursday that some of the world’s biggest miners are slashing outlays and shedding assets in 2013, hit with a triple shock of falling prices, rising costs and waning investor interest. The urban mining industry, by contrast, is less susceptible to such trends thanks to big improvements in recycling collection and separation technologies.
"Unlike traditional mining, urban mining is a sustainable and ultimately beneficial means of commodities production that’s getting easier and more affordable with each passing year,” said GTSO CEO Paul Watson. “Our company is investing time and money in e-waste supplies and infrastructure today so that we’ll be able to capture a major share of the marketplace tomorrow, when urban mining will be rightly seen as a cleaner, more virtuous and more profitable alternative.”
New legislation could help turn that vision into a reality sooner than later. Electronic products have become the fastest-growing portion of the solid waste stream in the U.S., posing a daunting challenge to government agencies that oversee landfills. Lawmakers across the country are beginning to take action. According to the EPA, every one million cell phones recycled, 75 pounds of gold, 772 pounds of silver, 33 pounds of palladium and more than 35,000 pounds of copper can be recovered.
Urban mining is key to GTSO’s plans to compete alongside major international corporations striving for sustainable waste solutions, such as Industrial Services of America (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. [www.gtsoresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit the website at www.GTSOresources.com/investors.html.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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Paul Watson, 408-432-7285
President and CEO