he government set its coal reference price (HBA) for September 2015 at US$58.21 per ton, 1.57 percent lower than $59.14 in the previous month.
Director of Coal Management and Development at the Ministry of Energy and Mineral Resources, Adhi Wibowo said Thursday that the further decline in HBA for this month, the lowest since it was introduced in 2009, was in line with the falling coal price in the international market.
The HBA, used among others as reference to calculate coal royalty, is based on coal with CV (GAR) of 6,322 kcal/kg. It is calculated based on the monthly average of four international coal indices: Indonesian coal index/ ICI 1, Platts-1, New Castle Export Index, and Newcastle Global Coal Index.
Adhi reiterated the ministryâ€™s plan to quickly revise the HBA formula, reducing the weighting of the international indices, while increasing the weighting of a revised version of the Indonesian coal index. The new formula will also reflect better the qualities of Indonesian coal.
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Posted by : admin [ 9/8/2015 2:47:00 AM ]