Indonesia's Ministry of Energy and Mineral Resources set its September thermal coal refer

ence price, also known as Harga Batubara Acuan or HBA, at a nine-month high of $92.03/

mt, a jump of 9.6% month on month and 44% year on year. 

The ministry had set the price for August at $83.97/mt and for September 2016 at $63.93/

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

$75.12/mt, up from $72.44/mt in July, while the daily 90-day Platts Newcastle FOB price for

coal with a calorific value of 6,300 kcal/kg GAR averaged $95.89/mt, up from $87.53/mt in

July. 

The HBA price for thermal coal is the basis for determining the prices of 77 Indonesian coal

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

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.