The Conversation (0)
Indonesian Coal Mining Association Seeks Delay in Royalty Increase
Sep. 09, 2013 08:20AM PST
Industrial Metals Investing
Reuters reported that the Indonesian Coal Mining Association has asked the country’s government to delay its plan to increase royalties paid by mining permit holders on the grounds that the industry is already facing some of the lowest prices it has seen in four years.
Reuters reported that the Indonesian Coal Mining Association has asked the country’s government to delay its plan to increase royalties paid by mining permit holders on the grounds that the industry is already facing some of the lowest prices it has seen in four years.
As quoted in the market news:
The trade group said the government should hold off on its plans for a royalty hike with coal prices down by more than 15 percent so far this year at around $77 a tonne.
‘Anything below $100 a tonne we would ask the government not to increase from the current royalty scheme,’ Pandu Sjahrir, commercial committee chairman of the Indonesian Coal Mining Association, told reporters. ‘But if it’s above $100, then we can discuss.’