Indonesia ordered coal miners to slash output after record production and exports from the world’s largest shipper last year weighed on prices and state revenue.
The government has set the production target at 550-million metric tons this year, 9.8% below the 610-million tons in 2019. Authorities will ensure that miners stick to the cap as the government “doesn’t want coal production to be too massive and drive prices lower and cause government revenue to drop", Energy and Mineral Resources Minister Arifin Tasrif said.