SAN JOSE, Calif.– Aug 3, 2012–As Green Technology Solutions’ mining subsidiary GTSO Resources works to develop new sources of lithium around the globe, manufacturers are scrambling to secure supplies of the critical element as the launch of Apple’s iPhone 5 device threatens to further strain global stockpiles.
Lithium is the main ingredient in long-life batteries used in smartphones, tablets, electric vehicles and other sought-after consumer products. In recent years, the mineral’s price has tripled as demand spikes.
“Extraordinary consumer demand for the latest iPads has already driven lithium prices up sharply, and nearly every market analyst is predicting another huge sales success for Apple with the iPhone 5,” said GTSO CEO Paul Watson. “The world’s lithium supplies are already short, and we believe that there is a great deal of profit to be made by helping to ensure that manufacturers have reliable access to this material.”
The market for lithium, the lightest metal on the periodic table, is now valued at $1 billion a year. Market research forecasts the lithium-ion batteries market to reach $43 billion by 2020. These batteries generate more electricity than competing cells such as lead-acid.
GTSO is exploring multiple strategies to capitalize on the demand for lithium. In addition to traditional mining opportunities in nations such as Chile, the company is also targeting urban mining companies for acquisition that could help turn piles of obsolete and discarded Apple products into a gold mine.
GTSO plans to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes FMC, Newmont Mining, and Rio Tinto.