Minerals and Coal Contribute Rp 111 Trillion to State Revenue
Jakarta. The state revenue generated from mineral and coal mining has surged to Rp 111.65 trillion ($7.3 billion) year-to-date, surpassing the full-year target by an impressive 130.98 percent, according to data released by the Ministry of Energy and Mineral Resources.
Despite the steady global decline in coal prices since the beginning of the year, coal continues to be a significant contributor to the mining sector. Export prices for coal have maintained their position above $100 per ton.
Indonesia's coal production has reached a total of 369.17 million tons in the first seven months of the year, accounting for 53.16 percent of the projected annual production volume.
In the initial half of the year, the country exported 249 million tons of coal, while domestic sales stood at 97.17 million tons.
The government determines the benchmark price for coal by amalgamating the realized prices from the previous month and the two months before that, with a ratio of 70:30, according to Agung Pribadi, the spokesman for the Ministry of Energy and Mineral Resources.
The benchmark coal price for August is still in the process of being formulated, he added.
For the month of July, the benchmark coal price varied based on the gross calorific value (GCV) of the materials. It was set at $191.6 per ton for coal with a GCV of 6,322 kcal per kilogram, $109.27 per ton for coal with a GCV of 5,200 kcal per kilogram, and $75.20 per ton for coal with a GCV of 4,200 kcal per kilogram.Tags: