Indonesia to review compliance in move that could affect mine output
Indonesia said it will check miners' compliance with environmental rules and "re-examine" production quotas for those found to be in breach.
JAKARTA, March 4 (Reuters) –
* The Indonesian government has set the coal benchmark price (HBA) for March at $90.57 per tonne, marking a seventh consecutive month of price fall, Muhamad Hendrasto, director of coal at the energy ministry, told reporters on Monday.
* February’s benchmark price, which the government uses to calculate a miner’s royalties, was $91.80 per tonne.
* Hendrasto said the decline in March benchmark was due to low demand in China.
* The HBA is a monthly average of the Argus-Indonesia Coal Index (ICI-1), the Platts Kalimantan 5,900 assessment, the Newcastle Export Index and the globalCOAL Newcastle index from the previous month.
(Reporting by Wilda Asmarini Writing by Gayatri Suroyo Editing by Subhranshu Sahu)
