Indonesia Scraps Coal Pricing Rules After Pushback From Buyers

Indonesia has scrapped the coal pricing rules that it introduced earlier this year, following pushback from buyers. The previous system had required miners to sell coal and minerals at government-determined levels. This decision comes as a response to the concerns raised by buyers, who had objected to the new pricing mechanism. The move is expected to provide more flexibility to the coal market in Indonesia, which is one of the world's largest producers and exporters of the fossil fuel. The scrapping of the pricing rules is likely to allow miners to negotiate prices more freely with their customers, rather than being bound by the government-set levels. This change in policy is seen as a step towards a more market-oriented approach in the Indonesian coal industry. The decision is also expected to have implications for the global coal trade, as Indonesia is a major supplier to countries around the world.