Govt prepares policy on coal?s futures exchange

The government has unveiled plans to market Indonesia?s coal through the futures exchange mechanism that would allow the country?s coal producing companies to set price of coal rather referring to the existing price made monthly by the office of Mineral and Energy Resource Ministry.

?We are still preparing the policy (on coal futures exchange). We are also waiting for a planned regulation (by Mineral and Energy Resource Ministry) on calorific value of coal that could be allowed for export,? Toto Rusbianto, an official at the Trade Ministry said on Wednesday.

He predicted that the policy on coal futures exchange could be finished next year.

The Trade Ministry added that it was gathering data of the total demand of coal by local industries including the state utility firm PT PLN.

Indonesia would start trading tin at the Indonesia Commodity and Derivatives Exchange (ICDX) in January next year. (giok)