Indonesia's  Ministry  of  Energy and Mineral Resources set its July thermal coal reference 

price, also  known  as  Harga  Batubara Acuan or HBA, at $78.95/mt, up 49% year on year 

and 4.6% higher from June. 

The ministry had set the price for June at $75.46/mt, and the July 2016 price at $53/mt. 

The HBA is a monthly average price based 25% on the Platts Kalimantan 5,900 kcal/kg GA

R assessment; 25% on the Argus-Indonesia Coal Index 1 (6,500 kcal/kg GAR); 25% on the 

Newcastle  Export  Index -- formerly the Barlow-Jonker index (6,322 kcal/kg GAR) of Energy 

Publishing -- and 25% on the globalCOAL Newcastle (6,000 kcal/kg NAR) index. 

In  June,  the  daily  Platts  FOB Kalimantan 5,900 kcal/kg GAR coal assessment averaged 

$70.23/mt, up from $69.60/mt in May, while the daily 90-day Platts Newcastle FOB price for 

coal  with  a calorific value of 6,300 kcal/kg GAR averaged $80.95/mt, up from $74.52/mt in 

May. 

The HBA price for thermal coal is the basis for determining the prices of 75 Indonesian coal 

products and calculating the royalty producers have to pay for each metric ton of coal they 

sell. 

It is based on 6,322 kcal/kg GAR coal, with 8% total moisture content, 15% ash as received 

and 0.8% sulfur as received.