Green Technology Solutions Inc’s joint venture with Rare Earth Exporters of Mongolia has hired SGS Mongolia Minerals to analyze the mineral content of a new mining property, owned by Mongolian trading and mining company Ar Erkhes, that the jv hopes to help develop.
The Mongolian agent company for GTSO and REE signed a letter of intent earlier to assist in the marketing and development of a new licensed rare earth mine in Mongolia’s Tuv province. According to the letter, the joint venture has the right to have scientists and other experts evaluate the site’s rare earths mining potential.
“We’re employing this laboratory to analyze the new site’s properties and let us know how many parts per million of the soil comprises rare earth elements,” he said. “It is our hope that the results of their analysis will conclude that mining this site for rare earths will be an economically feasible endeavor,” said CEO John Shearer.