Indonesia Scraps Coal Pricing Rules After Pushback From Buyers

Indonesia scrapped rules forcing miners to sell coal and minerals at government-determined levels after buyers pushed back against a system introduced earlier this year.

Miners will now be allowed to sell below government-set benchmarks, according to a ministerial decree signed on Aug 8. The regulation replaces one that came into effect in March and led to a revolt from coal buyers in particular.

The climbdown is a sign of the weakening position of the world’s top coal exporter in an oversupplied market. Global benchmark prices for the fossil fuel have plunged by more than 70% since the end of 2022 ...