What threat from indonesian coal, is that coking coal? In researching Cokal, I've found some information re east kalimantan. Very little information about coal grades available that I could find.
In a perverse way, if the current consensus on no new coking coal basins is correct, which is a pretty big assumption, the QLD gov royalties are a stroke of genius. A huge limitation on any expansion of capacity through both lowering irr and increasing perceived sovereign risk, leading to higher prices for longer. Don't get me wrong, it's a pain in the arse watching money that would fall to the bottom line of companies I invest in walk out the door, but it does limit competition.
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