Lithia, FL, Oct. 23, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American International Ventures, Inc., ("AIVN") has entered into a joint venture agreement with PT Musi Bumi Energi an Indonesia Corportion (“MBE”). MBE has an 8,855 hectare (21,881 acre) coal concession, located at Musi Banyuasin, South Sumatera, Indonesia. Coal reserves of approximately one hundred million (100,000,000) metric tons (Pre-Jorc estimate) of low rank subbituminous coal reserves located on said concession.
Robert G. Polce, CEO of AIVN stated: "The intent of this joint venture is to develop Coal to Liquids (CTL) plants using coal reserves located on the joint venture coal concessions. The first phase of this development will consist of one coal to liquid plant that consumes two thousand (2,000) tons of coal per day producing eight thousand (8,000) barrels of Synthetic Crude Oil (SCO) per day. Then we will develop what is referred to as a “SET” which ultimately includes four coal to liquid plants and one refinery to process the synthetic crude oil produced into the desired products. Each of the four plants will process two thousand tons of coal per day, with a total of eight thousand tons coal input per day. Total synthetic crude oil production will be thirty-two thousand (32,000) barrels per day, with plant production life of 30 years”. The total project development cost will be 1.2 Billion (1,200,000,000) USD, with an average cost of Three Hundred Million (300,000,000) USD per Coal to Liquids (CTL) Plant.
American International Ventures, Inc. (AIVN) is a gold and silver mining company with a focus on acquiring mines in operator friendly regions of the United States and Mexico. AIVN flagship mining property “The Mother Lode” in Baja California, Mexico is an enormous mining district, with a rich history starting at the turn of the 20th century when over 200,000 ounces of gold was mined in only 10 years. Only 10% of the property has been tested for gold; the areas that have, return consistently high-grade results.
AIVN wholly owned subsidiary: GEOENERGY is a diversified mining and mineral asset management company that is involved in energy, natural resource and fuel related industries. GEOENERGY (along with its partners and affiliates) control over 1.5 billion tons of Coal and other mineral assets in worldwide (including Indonesia). GEOENERGY has worked to develop technologies which support recent government mandates to create jobs and value-added products that is mandated under new regulations set forth by the Indonesian government to increase the value of raw minerals through processing on shore, for domestic use and export. Our Coal to Liquids business model provides total compliance with these mandates. It further eliminates expensive Coal Drying Techniques currently utilized.
Prior to the acquisition of GeoEnergy as a wholly owned subsidiary of AIVN, principals of the GeoAsia group, Mr. Polce and Paul “Mike” Muncy, Chief Technology Officer, worked closely with Indonesian mining companies in their joint efforts to comply with local restrictions requiring value added processing of mineral resources in that country. In consummating the agreement announced herein, the parties negotiated in excess of 2 years. By coupling US Patented Clean Coal Technology with Market Requirements in the PAC Rim, this international business symbiosis was made possible (in part) by the new tax regulations instituted by the current administration.
Cautionary Note Regarding Forward-Looking Statements and Information concerning mineral resources. This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement and cost of mining programs, anticipated exploration and metallurgical test program results, the discovery and delineation of mineral deposits/resources/reserves, the potential for any mining or production are to be considered forward-looking statements. Except as required by the Federal Securities law, AIVN does not undertake any obligation to revise or update any forward-looking statements contained herein after the date hereof.
CONTACT: Company Contact: Robert G. Polce Jr. Chief Executive Officer Phone: 813- 260- 2866 Web Site: http://www.aivn.co