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Indonesia cancels the requirement for benchmark prices on mineral and coal sales
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Release time：2025-08-29
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This decree now allows miners to sell minerals and coal below the government-set benchmark price.
According to Reuters, the Indonesian government has issued a decree abolishing the obligation for miners to use the government benchmark price as the minimum price for mineral and coal sales. Previously, the Jakarta government had stipulated that from March 1, coal transactions must use the benchmark price, aiming to better control the value of domestic and export coal trades. This benchmark price was also used to calculate royalty fees. Nevertheless, the decree now allows miners to sell minerals and coal at prices lower than the government-set benchmark price. However, the production tax and tax obligations arising from these transactions will still be calculated based on the benchmark price.
Industry feedback tends to favor using the "Indonesian Coal Index" for freight pricing. This index is preferred due to its transparency, higher update frequency, and generally lower price points compared to the government benchmark. The Indonesian government has also set benchmark prices for other minerals such as nickel products, copper, tin, cobalt, and bauxite.
In the first half of this year, the national export of thermal coal reached 238 million tons, a year-on-year increase of 20%. Additionally, the Indonesian Ministry of Mining has identified 18 projects with a total value of 38.6 billion USD aimed at developing the country's natural resources. These projects have been listed by the Indonesian sovereign wealth fund Danantara as potential investment targets. The fund plays a key role in President Prabowo Subianto's strategy to achieve an 8% economic growth target by 2029. Danantara was established earlier this year and is responsible for managing state-owned enterprise shares and reinvesting dividends into commercial enterprises.
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