JAKARTA. Energy and Mineral Resources Deputy Minister Susilo Siswoutomo promised to recommend an increased royalty rate on coal mining permits (IUP) to around 10-13 percent at the beginning of January 2014. “Next year, the Energy and Mineral Resources Ministry will submit a recommendation on coal royalty increases to around 10-13 percent from currently between 3.5 and 7 percent. It is expected that the recommendation will be submitted in the 2014 state budget [APBN] in January 2014,” said Susilo on Tuesday, as quoted by Antara news agency. He said it was not possible for the government both to submit the recommendation on coal royalty increases and apply coal export duties this year due to declining coal prices.
Govt to recommend increased coal mining royalty
JAKARTA. Energy and Mineral Resources Deputy Minister Susilo Siswoutomo promised to recommend an increased royalty rate on coal mining permits (IUP) to around 10-13 percent at the beginning of January 2014. “Next year, the Energy and Mineral Resources Ministry will submit a recommendation on coal royalty increases to around 10-13 percent from currently between 3.5 and 7 percent. It is expected that the recommendation will be submitted in the 2014 state budget [APBN] in January 2014,” said Susilo on Tuesday, as quoted by Antara news agency. He said it was not possible for the government both to submit the recommendation on coal royalty increases and apply coal export duties this year due to declining coal prices.