JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) cut the coal production target by 2025.
Director General of Mineral and Coal (Dirjen Minerba) of the Ministry of Energy and Mineral Resources Tri Winarno said the Ministry of Energy and Mineral Resources set the target of Indonesia's coal production by 2025 to reach 735 million tons.
"The target (coal production in 2025) is 735 (million tons) if I'm not mistaken," he told the media crew at the Ministry of Energy and Mineral Resources Building, Friday, February 7.
This target is much lower than the production achievement in 2024 which was recorded at 836 million tons. Tri said the reason the Ministry of Energy and Mineral Resources set this low target was aimed at stabilizing coal prices.
"(It's lower than the realization) that's okay. Let the price be good," Tri added.
Previously, the Ministry of Energy and Mineral Resources reported that Indonesia produced 836 million tons of coal or reached 117 percent of the target set in early 2024 which was set as a target of 710 million tons.
Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia detailed, from this realization, 555 million tons of RI coal were exported, while 233 million tons were used for domestic needs, and the remaining 48 million tons became domestic stocks.
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The Ministry of Energy and Mineral Resources has also opened up opportunities for coal export restrictions given the low price of ICE Newcastle.
Bahlil admitted that he had asked the Director General of Mineral and Coal (Minerba) Tri Winarno to carefully calculate the price of Indonesian reference coal (HBA) by referring to the ICE price.
The former chairman of HIPMI said that currently the reference price set by the government is far below international prices.
The tightening of export permits, he said, is intended to affect international market prices.
"When do we have coal prices determined by neighboring countries? Our countries must be sovereign to determine their own commodity prices," he continued.
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