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Industry News

  • January 2019
    • IDX LISTINGS FOR EXPLORATION COMPANIES – A PROPOSED MOVE IN THE RIGHT DIRECTION
    • Freeport To Pay Indonesia $32m For Illegal Forest Use – State Auditor
    • BlackGold: Sentencing of Consultant in Bribery Case Not Expected to Impact Group Operations
    • China’s Thermal Coal Imports Fall to 16-Month Low
    • Coal Demand Seen Steady Through 2023 Thanks to India and China — IEA
    • Coal Mining Update: Contract Extension Relaxation, Price Pressures & Government Dilemma
    • Freeport to Focus on Developing Smelter, Underground Mine
    • Government Defends Freeport Deal Amid Criticism
    • Indonesia Coal Output Seen Nearly 500 million T in 2019: Industry Body
    • Indonesia’s Mining Industry Headed Nowhere Fast
    • Indonesia’s Silkroad Nickel Signs $291.71m Nickel Ore Offtake Deal
    • Indonesian Coal Miners Diversify Into Renewables
    • KPK Urges Govt to Form Mining Task Force
    • Metal Prices to Depend on US-China Trade Relations, Chinese Growth
    • Pongkor Mine, First Underground Museum in Indonesia
    • Progress in Smelter Construction by Three Mining Companies Slow
    • World’s Biggest Gold Mine Nationalized in Indonesia

Indonesia’s Coal Reference Price Down 2.97 Percent

The government has set the Indonesian coal reference price for November at US$97.90 per ton, 2.97 percent lower than the price in the previous month, which was set at $100.89 per ton as a result of the global coal price, in response to China's ongoing import quota policy.

Energy and Mineral Resources Ministry spokesperson Agung Pribadi said the coal price decline was also sparked by the distribution issue in Australia and oversupply in Indonesia.

“The delay in coal distribution in Australia affected the ICE Newcastle index. There is also an oversupply in in our country as a result of slowing demand from India and China,” he told press on Monday.

This year, the government targets national coal production of 485 million tons, 25 percent of which is for the domestic market obligation, which is equal to 121.25 million tons.

Data from the Energy and Mineral Resources Ministry up to September show that coal production had reached 70.9 percent of the annual total target, or equivalent to 344 million tons.

The government continued its policy to cap the coal price for electricity purposes at $70 per ton, aiming to maintain the electricity price at an affordable level. (bbn)

Source: Stefanno Reinard Sulaiman / The Jakarta Post

5 November 18

 

 

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