Ministry of Energy and Mineral Resources (ESDM) Encourages Acceleration of Coal Downstream
The Ministry of Energy and Mineral Resources (ESDM) encourages the acceleration of increasing the added value of coal through downstreaming. This is in line with the increasingly narrow international coal market due to the Covid-19 pandemic.
Coal gasification and steam power plants are efforts that are carried out, among others, to absorb domestic coal production. Minister of Energy and Mineral Resources Arifin Tasrif said demand for coal has been under pressure in recent months due to Covid-19. He said coal consuming countries had begun to restrict imports and look for sources from within the country. Based on data from the Ministry of Energy and Mineral Resources, the realization of coal exports until the end of May reached 175.15 million tons. This achievement is around 40 percent of the export quota set this year at 435 million tons. Meanwhile, the realization of coal production until the end of May reached 228 million tons. The realization is about 42 percent of the production target set for this year of 550 million tons. Meanwhile, the realization of the use of coal for domestic purposes (Domestic Market Obligation/DMO) reached 53.55 million tons. In recent months coal prices have continued to be depressed during the Covid-19 pandemic. Currently, the price of coal is at the lowest position of US$52.98/ton. The price is lower than the last May period, which was at US$61.11/ton. The Coal Reference Price (HBA) rose 0.28% at US$67.08/ton in March compared to February at US$66.89/ton. Then the HBA decreased to the level of US$65.77/ton in April. The depressed price of coal is a challenge in itself in achieving the target of non-tax state revenue (PNBP) for the mineral and coal mining sector.
|•SOURCE•| Articles :INVESTOR | Image :ESDM |
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