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American International Ventures, Inc. Signs Joint Venture With PT Musi Bumi Energi
American International Ventures, Inc. Signs Joint Venture With PT Musi Bumi Energi.
About this update from American International Ventures, Inc.
[{"type":"text","content":"\nLithia, 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.\n 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 miner...