GTSO: New Legislation in Chile Opens Up Market
March 25 2014 - 7:30AM
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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Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking
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of 1933, as amended, and Section 21E of the Securities Exchange Act
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Green Technology Solutions, Inc.Paul
Watson, 408-432-7285President and
CEOinfo@gtsoresources.com