Jakarta, Nov. 24 -- Indonesia's Ministry of Energy and Mineral Resources (ESDM) has finalized the export duty formula for coal and other mineral commodities, including gold.

ESDM Minister Bahlil Lahadalia said on Monday that export duties for coal, gold and other minerals will be adjusted to global prices.

"We can impose an export duty if the selling price is high. But if the price is low, then don't. However, for gold, it must be imposed because its price is very high," he said, noting the policy aims to bolster state revenue.

Earlier, Finance Ministry official Febrio Kacaribu said ministries and agencies had agreed on a gold export duty of 7.5 to 15 percent to strengthen revenue and encourage downstreaming.

He added that a finance m...