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

ence price, also known as Harga Batubara Acuan or HBA, at $94.80/mt, rising 12% year on 

year and up about 0.9% from October. 

The ministry had set the price for October at $93.99/mt and for November 2016 at $84.89/mt. 

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

R assessment, Argus-Indonesia Coal Index 1 (6,500 kcal/kg GAR); Newcastle Export Index (6, 

3 22 kcal/kg GAR) and globalCOAL Newcastle (6,000 kcal/kg NAR). 

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

$83.12/mt, up from $79.56/mt in September, while the daily 90-day Platts Newcastle FOB pric

e for coal with a calorific value of 6,300 kcal/kg GAR averaged $97.14/mt, up from $96.87/mt 

in September. 

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.