Coal miners operating under the mining business permit (IUP) regime reported squeezed margins in the first quarter of 2023 due to implementation of President Joko ‘Jokowi’ Widodo’s new regulation about royalty since the fourth quarter of 2022. PT TBS Energy Tbk (TOBA), which is linked to powerful cabinet member Luhut Binsar Pandjaitan, has also been seriously affected.To subscribe please click here
