First Mongolian rare earth shipment to be sold to S Korea

Green Technology Solutions Inc. (GTSO)will send its first Mongolian rare earth shipment to South Korea in June, local media reported Tuesday.
In an earlier report, GTSO President John Shearer said the company had targeted April for this initial shipment.
GTSO formed a joint venture with Rare Earth Exporters of Mongolia (REE) in February, aiming to obtain rare earth mining claims and operations in Mongolia.
Shearer said demand for rare earths was at an all-time high, and they were working hard to begin the mining operations as quickly as possible.
The company plans to send a shipping container full of rare earth mined from Mongolia to the Russian port of Vladivostok by railway, and then ship it to Seoul, he said.
But a further analysis of the content and density of the rare earth is needed, and the ore will be taken to the government labs.
Rare earth elements are vital to the manufacture of electronics, superconductors, clean energy products and so on.
Domestic use and environmental concerns have led to fewer mining permits in China, resulting in fewer exports and higher prices in the international market.
According to a 2009 estimation by the U.S. Geological Survey, Mongolia has 31 million tons of rare earth reserves, or 16.77 percent of the total global reserves, making it the second biggest holder in the world after China.
Weekly review April 14 BRICS nations can be anchor of global economy, politics April 13 China launches assault on child kidnapping April 12 China's coastal seas unaffected by Japan's radioactive water April 11 US has serious human rights abuses: China April 16 The week in pictures April 11 PM Kan offers thanks for 'Kizuna' on People's Daily April 13 Stable BRICS nations prop up world development April 13 US should stop acting like 'preacher' of human rights April 15 GDP rises 9.7% in Q1, inflation surges too April 14 Auditor lady's sudden death sparks overwork debate