Minister sets December mineral reference prices

Minister of Energy and Mineral Resources Ignasius Jonan had on December 8 issued a new ministerial regulation on the Mineral Reference Price (or HMA) of 20 metal minerals for the period of December 2017.

The ministry said in a statement on Friday that the HMA is one of the variables in the formula to determine the so-called Mineral Benchmark Price (or HPM) along with other variables including metal mineral purity, constant factor, corrective factor, treatment cost, refining charges, and payable metal.

The statement said that the HMA is determined by the minister every month and is based on international indices published among others by the London Metal Exchange, London Bullion Market Association, Asian Metal, and the Indonesia Commodity and Derivatives Exchange (ICDX).

Following is the HMA of 20 metal minerals for December of 2017.
1.Nickel UU$12,091.67/dmt
2.Cobalt US$60,833.33/dmt
3.Lead US$2,469.98/dmt
4.Zin US$3,249.17/dmt
5.Aluminum US$2,127.26/dmt
6. Copper US$6,860.50/dmt
7. Gold as gangue minerals US$ 1.276,76/ounce
8. Silver as gangue minerals US$16.97/ounce
9. Tin ingot Pb 300 in accordance with tin ingot price published by ICDX on sales day.
10.Tin ingot Pb 200 in accordance with tin ingot price published by ICDX on sales day.
11. Tin ingot Pb 100 in accordance with tin ingot price published by ICDX on sales day
12.Tin ingot Pb 050 in accordance with tin ingot price published by ICDX on sales day
13. Tin ingot 4NINE in accordance with tin ingot price published by ICDX on sales day
14.Precious metal in accordance with price of precious gold price on London Bullion Market Association (LBMA) on sales day
15. Silver metal follows silver metal price on London Bullion Market Association (LBMA) on sales day
16.Manganese US$4.62/dmt
17. Laterite steel ore/hematite/magnetite US$0.86/dmt
18. Chrome ore US$3.71/dmt
19. Ilmenite concentrates US$4.30/dmt
20. Titanium concentrates US$10.46/dmt

Editing by Reiner Simanjuntak