Government to publish minerals reference price next month
Wednesday, July 12 2017 - 01:56 AM WIB
Petromindo|Thomas
The Ministry of Energy and Mineral Resources plans to publish the government?s minerals reference price (also called HPM) next month following the recent issuance of Ministerial Regulation No 7/2017 on the mechanism to determine the HPM.
?It will be publish every month, just like HBA, starting August,? Director General of Mineral and Coal Bambang Gatot Ariyono said on Tuesday referring to the government?s coal reference price.
He explained that the HPM will be based on a number of indices including that of London Metal Exchange (LME), London Bullion Market Association (LBMA), Asian Metal, and Indonesia Commodity & Derivatives Exchange.
Bambang said that that HPM will cover several mineral commodities including nickel, cobalt, lead, zinc, bauxite, gold, silver, tin, copper, manganese, chrome, titanium, and other metals.
He said that with the HPM will among others be used as reference to determine mining royalty so that the government can make better projection of revenue from the mineral sector. (*)