Regarding Coal Exports Using HBA, Entrepreneurs Ask This

Coal (photo: dock. intermediate)

JAKARTA - The government has implemented a coal export policy based on the reference coal price (HBA) which will take effect on March 1, 2025. However, mining actors admitted that they still questioned several things even though socialization had been carried out from 26 February to 1 March 2025.

APBI Executive Director Gita Mahyani said that HBA is actually nothing new for coal miners. HBA is usually used by miners as a benchmark for calculating the amount of coal royalties. However, with the new policy, HBA will be used for buying and selling coal in the global market.

"In the field, we still ask what the implementation will be like if we sell under the price of HBA," he said in the Mining Zone quoted on Thursday, March 6.

He explained that the determination of the HBA amount is usually based on sales in the previous period, while the index used in the global market is determined based on market prices when a transaction process occurs.

"There is still a lot of confusion between miners, both APBI and non-profit. But we are trying to understand the government's desire for prices to be set up for independence so that prices compete," he continued.

Gita said that so far the average coal miner will trade based on the predetermined price index between buyers and sellers, not based on HBA, the average price is far above the market price.

"We have had the data for the last 6 months, the HBA is always higher than the market price. Meanwhile, the market is influenced by several factors that occur, including demand. What will happen later when the HBA must be used is what we think is a big question," explained Gita.

He added that currently the miners already have a contract with the buyer and the price listed on the contract is still below the reference coal price set by the government.

"We still have to evaluate from HBA which was first issued in Tanggl 1 and later on the 15th. Is this HBA price enough for buyers whose incident is more expensive than global price?" he said.