Penny Stock News – GTSO: New Chinese Rare Earth Production Quotas Could Lead to Shortages

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SAN JOSE, Calif.–(BUSINESS WIRE)–
China’s issuance of new mandatory production quotas for rare earth ore
this week adds credence to the claim by Green Technology Solutions Inc.
(OTCQB:GTSO) and other experts that the world’s top producer of rare
elements can no longer keep pace with global demand for the critical
materials.

 

The Xinhua News Agency reported Monday that China’s Ministry of Industry
and Information Technology (MIIT) announced new mandatory production
quotas for several rare metals conceived as part of the Communist
government’s plans to implement new protective mining policies. The new
annual production quota for rare earth ore is set at 184,200 tons:
93,800 tons of rare earth oxide and 90,400 tons of rare earth oxide
smelting. The new quotas bear little increase over last year’s totals
despite soaring prices and demand for rare earths worldwide. The
ministry also reiterated that China will not grant any new licenses for
prospecting and mining rare earth ores before June 30, 2012.

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Article source: http://biz.yahoo.com/bw/110426/20110426005921.html?.v=1