GTSO: Why is Warren Buffett Betting on Tungsten?

May 14, 2012 - PRLog -- SAN JOSE, Calif., May 08, 2012 (BUSINESS WIRE) -- GTSO Resources  isn't alone in pursuing potentially lucrative new opportunities in the global tungsten market. Some of the world's most prominent investors--including Warren Buffett's Berkshire Hathaway--are betting big on the industrial metal.

IMC Group is a subsidiary of Berkshire Hathaway that holds a diverse portfolio of metalworking companies. IMC recently invested $70 million in the mining company Woulfe's South Korean tungsten operations. Half of the funds will go to the mine itself, with the rest helping to finance a nearby plant for processing the raw material. The processed tungsten will then be used by units within IMC. Tungsten can be made as tungsten wire, which is widely used in filament industry.

A critical material used in everything from drill bits to touch screens, tungsten may currently represent the hottest mining play on the periodic table! Today, global mining powerhouse China produces approximately 85 percent of the world's tungsten supplies, and rising demand from manufacturers within the emerging superpower is causing the government to slash exports. There are many manufacturers in tungsten carbide cutting tools, tungsten heavy alloy, etc.

China's tightening grip on the metal, combined with a global uptick in demand, has caused tungsten prices to double over the last few years--and the market may only be getting warmed up.

GTSO Resources is prepared to capitalize on these unprecedented market conditions by exploring and developing new sources of tungsten around the globe. As demand for tungsten continues to rise while supplies remain largely flat, the company expects mining and development opportunities to potentially grow increasingly more lucrative by the day.

GTSO is currently preparing a list of promising targets for acquisition and joint venture in the tungsten sector that could help the company achieve rapid growth in market share. For more information on GTSO Resources' aggressive mineral development plans, please visit www.gtsoresources.com/investors.html .

GTSO plans to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes Goldcorp Inc.  GG -4.45% , Newmont Mining Corp.  NEM -2.99% , Royal Gold, Inc.  RGLD -2.51% and Barrick Gold Corp.  ABX -3.22% .


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