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

price, also known as Harga Batubara Acuan or HBA, at $95.54/mt, up 10.8% on the year and 

1.6% from December. 

The ministry had set the price for December at $94.04/mt and for January 2017 at $86.23/mt. 

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

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

(6,322 kcal/kg GAR) and globalCOAL Newcastle (6,000 kcal/kg NAR). 

In  December,  the daily Platts FOB Kalimantan 5,900 kcal/kg GAR coal assessment average

d  $82.99/mt,  up from $82.17/mt in November, while  the  daily 90-day Platts Newcastle FOB 

price  for coal  with  a  calorific  value  of  6,300 kcal/kg GAR averaged $102.12/mt, up from 

$96.62/mt in November. 

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.