Ministry of Energy and Mineral Resources of Indonesia has set the August 2012 coal reference price at US$ 84.65 per ton i.e. slightly lower than the July price.
The Indonesian coal reference price, also known as the HBA, for August has fallen since the beginning of the 2012 to reach US$84.65/t, from US$ 87.56/t in July.
The HBA is the minimum price used for the calculation of taxes for producers pay for all future exports and domestic coal sales. It is calculated using a basket of indices, including the price is a monthly average of the Indonesia Coal price Index (ICI-1), Platts-1, Newcastle Export Index and the globalCOAL Index from the previous month.
Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur 0.80%, Ash Content 15.00% and delivery free on Board (FOB) Vessel supply between 1 – 31 August 2012.
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