The price of coal continues to decline. In the Newcastle ICE Market, for example, the black gold closed at USD 141.80 per tonne on Friday (7/7) or down 5.28 percent in the week for the August contract.
Even though the price is in a slump, PT Bumi Resources Tbk (BUMI) remains consistent in realizing production of 75-80 million metric tons in 2023. This was disclosed by the Director and Corporate Secretary, Dileep Srivastava.
“There is no change in our guideline from 75MT – 80MT in FY23,” Dileep told mining.co.id, Tuesday (11/7).
The amount of BUMI’s coal production in semester 1 has not yet been published. However, if you refer to the records in the first quarter, BUMI’s coal production has indeed decreased by 16.1 million metric tons.
Meanwhile last year in the same period it reached 16.3 million metric tons. Coal produced by KPC increased by 1% and Arutmin decreased by 4% YOY. “Don’t have volume in semester 1 of 2023, not yet,” he concluded.
In Indonesia, the July reference coal price (HBA) has also not been released by the Ministry of Energy and Mineral Resources (ESDM). But if you look at the previous HBA, coal prices tend to decline at least in the last 3 months.
The March HBA for high-calorie coal is set at USD 283.08 per ton. April HBA is priced at USD 265.26 per ton, May HBA is USD 206.16 per ton. Meanwhile, last June’s HBA for high-calorie coal was only set at USD 191.26 per ton.
The rise and fall of coal prices was caused by several factors, among which demand from a number of European countries, China, India and others decreased both due to weather factors and global political climate.