- The Minister of Energy and Mineral Resources ("Minister") has set various applicable Reference Prices for Metal Minerals (Harga Mineral Logam Acuan – "HMA") and Reference Prices for Coal (Harga Batubara Acuan – "HBA") for the January 2024 period through the issuance of Decree No. 8.K/MB.01/MEM.B/2024 ("Decree 8/2024"), which has been in force since 15 January 2024.
- As detailed under Appendix I to Decree 8/2024, the applicable HMA should be utilized as a reference during calculations of applicable Metal Mineral Benchmark Prices (Harga Patokan Mineral Logam/HPM) for January 2024. In this regard, the HMA apply to 20 types of metal mineral commodities, including: 1) Nickel (US$ 16,368.86/DMT); 2) Cobalt (US$ 31,920.00/DMT); 3) Lead (US$ 2,096.50/DMT); 4) Zinc (US$ 2,486.68/DMT); and 5) Aluminum (US$ 2,154.07/DMT).
- Meanwhile, the applicable HBA are comprehensively detailed under Appendix II to Decree 8/2024. Said reference prices should be utilized as a reference during calculations of applicable Coal Benchmark Prices (Harga Patokan Batubara/HPB) for January 2024. The applicable HBA for the above-mentioned coal commodities break down as follows: 1) Coal (with 6,322 Gross as Received ["GAR"]): US$ 125.85/ton; 2) Coal I (with 5,300 GAR): US$ 87.36/ton; 3) Coal II (with 4,100 GAR): US$ 58.56/ton; and 4) Coal III (with 3,400 GAR): US$ 37.09/ton.
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