State revenues from coal and mineral reaches Rp19.2 trillion

By Thomas Sembiring

Directorate General for Mineral and Coal (Minerba) at the Energy and Mineral Resources said the revenues from the mineral and coal sector has reached Rp19.2 trillion as of June 11, 2019.

"As of June 11, it (revenues) has reached Rp19.2 trillion," Director for Mineral and Coal Revenues Jhonson Pakpahan told Petromindo.com on Wednesday (12/02) in Jakarta.

The revenues represents 44.3 percent to the full year State Budget target of Rp43.27 trillion.

This year revenues from mineral and coal sector was set lower than last year's realized revenues of Rp49.63 trillion.

Jhonson said his office targets the revenues from mineral and coal to reach Rp21.6 trillion by the end of June or 49.9 percent to the full year target.

He admits that the revenues are being influenced by the fluctuation of mineral and coal prices, therefore he hopes the mineral and coal prices will continue to be steady.

He also hopes mineral and coal production would reach the set target.

"If (mineral and coal) production is attained (as targeted), the (revenues) target would be achieved," Jhonson added.

The MEMR targets coal production this year at 489 million tons, lower than last year's realized production of 557 million tons.

Last year, realized coal production was far higher than the government target of 485 million tons, as the government allowed coal producers to produce higher than the state-imposed quotas to generate higher State revenues.

Editing by Roffie Kurniawan