The Indonesian Government has removed the obligation for miners to use government benchmark prices for minerals and coal sales. Miners can now sell below benchmarks, but production levies and taxes are still based on benchmarks. The industry prefers the “Indonesian Coal Index” for pricing, citing transparency and lower prices.

In the first half of this year, Indonesia exported 238 million tonnes of thermal coal, a 20% increase from the previous year. The government has identified 18 projects worth $38.6bn for developing natural resources. These projects are potential targets for investment by Indonesia’s sovereign wealth fund, Danantara, part of achieving an 8% economic growth target by 2029.

Read more at Yahoo Finance: Indonesia eliminates benchmark price requirements for minerals and coal sales