Ministry to issue soon regulation on coal, mineral reference prices

The Ministry of Energy and Mineral Resources will soon issue a regulation on reference price for coal and minerals sales in a bid to raise the state revenue from the commodities, a senior official of the ministry said on Thursday.

?We expect to submit the final draft to Ministry by the end of this August,? Bambang Gatot Ariyanto, the Director General of Coal and Geothermal, told Petromindo.com.

The reference price for coal sales will be calculated based on four indexes, including the Indonesia coal index (ICI), Newcastle Global Index, Platts, he said.

Meanwhile, the reference price for mineral sales will be referred to the London Metal Exchange and "possibly" other indexes, he said. (godang)