Green Technology Solutions mining subsidiary GTSO Resources reports that portable device manufacturers are scrambling to secure supplies of Lithium as the launch of Apple’s iPhone 5 draws near, threatening to strain global stockpiles. GTSO is now exploring multiple strategies to capitalize on the demand for the rare element.
Apple has mainly been a mobile devices company for quite some time now, and everything it churns up sells like water in the desert. All its portables use batteries based on Lithium-Ion technology.
Lithium is a vital element for any OEM and, to make matters worse, it doesn’t come in high abundances. So, naturally, vendors are going to be a tad scared when Apple prepares to launch its next best thing.
And now they have more reason to be scared than ever because the mineral’s price has tripled, as demand has spiked in recent years.
Commenting on the matter, GTSO
CEO Paul Watson, said, “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.”
“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.”
In addition to targeting traditional mining opportunities in nations such as Chile, GTSO is eyeing “urban mining companies for acquisition that could help turn piles of obsolete and discarded Apple products into a gold mine,” the company, which explores rare earth minerals and precious metals production around the world, said today.
“GTSO plans to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes FMC Corp., Newmont Mining Corp., and Rio Tinto,” the company added.