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An Indonesian official said the government had lowered its coal production target for 2019 to 480 million tonnes to stabilize global coal prices
.
Last year's target was 485 million tonnes, of which 25% was allocated to domestic market obligations (DMOs).
Bambang Gatot Ariyono, head of the Minerals and Coal Department at the Ministry of Energy and Mineral Resources, said the government had considered various factors, including the direction of
the dollar, before deciding on the figure.
"Our goal is to maintain good coal prices," Bambang Gatot Ariyono added, "and there is a possibility that the government will revise its production targets
this year.
" We will continue to monitor the situation
.
Typically, coal miners will revise their production targets
by July.
One of the reasons for revising the target is to increase state revenues
.
Sector data as of December 27 shows that Indonesia reached 94.
02%
of its overall annual target for 2018.
Bambang pledged that a 25 percent DMO policy and a $70 per tonne coal price cap would ensure stable electricity prices until the end of the year
.
An Indonesian official said the government had lowered its coal production target for 2019 to 480 million tonnes to stabilize global coal prices
.
Last year's target was 485 million tonnes, of which 25% was allocated to domestic market obligations (DMOs).
Bambang Gatot Ariyono, head of the Minerals and Coal Department at the Ministry of Energy and Mineral Resources, said the government had considered various factors, including the direction of
the dollar, before deciding on the figure.
"Our goal is to maintain good coal prices," Bambang Gatot Ariyono added, "and there is a possibility that the government will revise its production targets
this year.
" We will continue to monitor the situation
.
Typically, coal miners will revise their production targets
by July.
One of the reasons for revising the target is to increase state revenues
.
Sector data as of December 27 shows that Indonesia reached 94.
02%
of its overall annual target for 2018.
Bambang pledged that a 25 percent DMO policy and a $70 per tonne coal price cap would ensure stable electricity prices until the end of the year
.
