The mining beat, explained

Indonesia sets its own thermal-coal reference each month. Here is what the HBA is, how it is built, and why the tiers exist.

Reference · 6 min read

Two numbers explain most of a miner's cost and the price it earns. A short guide to strip ratio and calorific value.

Reference · 5 min read

Not every ton in the ground counts the same. How the JORC Code separates what is there from what can actually be mined.

Reference · 5 min read

Indonesia is the world's largest thermal-coal exporter and the dominant force in nickel. Where the country sits in each market, and why it matters.

Reference · 6 min read

Two government levers, the Domestic Market Obligation and the royalty regime, decide how much of a miner's revenue stays with the miner. How each one works.

Reference · 6 min read

Production tons, cash cost, realised price, and reserves tell you more than the income statement. A walk through the pages that matter.

Reference · 7 min read