Indonesia: Miners declare force majeure in Kalimantan, coal prices to rise

CoalMint has learnt that a few coal miners in Indonesia’s coal-rich region of East Kalimantan while two big mines in South Kalimantan have declared force majeure due to torrential rains since the past few weeks. While production has slowed down in East Kalimantan, in South Kalimantan impact of the same on coal production is expected to be substantial resulting which Indonesian and other-origin coal prices would move up further, informed market participants. The force majeure clause frees sellers from their contractual obligation in case of unforeseen events.