The first largest in history, coal exports from Indonesia to Europe reached a fantastic amount. The Indonesian Coal Mining Association (APBI) noted that Indonesia's coal exports to Europe reached up to 3.5 million tons to 4 million tons by October 2022. As is well known, Europe is in need of coal as raw material for its country's electrical energy needs in the midst of the energy crisis that is engulfing the European Union countries. Coal from Indonesia becomes a substitute for European imports when these countries impose economic sanctions in the form of stopping coal from Russia, which is their mainstay. APBI Executive Director, Hendra Sinadia said, referring to unofficial data, as of October 2022 there have been nearly 4 million tons of coal to be shipped to several countries in Europe. Hendra said that compared to previous years, the volume of Indonesian coal exports to Europe was usually less than 1 million tons per year. "Of course there is a significant increase in this number. This is not an official figure, if it is that amount (4 million tons) this is the largest (in history)," explained Hendra to CNBC Indonesia, Tuesday (4/9/2022).
The soaring price of mining commodities has had a real impact on state revenues, including Non-Tax State Revenue (PNBP). The realization of state revenues from the mineral and coal mining sector (minerba) so far has reached USD 7.7 billion or 279.32% of the planned revenue target in 2022. This is based on data from the Ministry of Energy and Resources Minerba One Data Indonesia (MODI). Mineral Resources (ESDM), as of Monday, October 3, 2022. In the last trading last week, Friday (30/9/2022), the price of November contract coal on the Newcastle ICE market closed at USD 407.7 per ton. The price is down 0.38%. However, this week the price of coal is estimated to still move in the range below USD 400 per ton. Bank Mandiri Industry Analyst Ahmad Zuhdi estimates that coal prices will move in the range of US$ 410 per ton. For the record, coal prices have never left the level of US$ 400 per ton since August 12, 2022. "Seeing that the sentiment is still strong and coal is still said to be the cheapest energy, we see it will still be above US$ 400 per ton, the deepest around US$ 410," said Zuhdi, to CNBC Indonesia.
