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Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides useful insight into the latest policy positions of the Indonesian Government on mining business activities in the country, according to global law firm Herbert Smith Freehills and its affiliate firm Hiswara Bunjamin &Tandjung in Jakarta.
"The new draft seeks to readdress some of the more troublesome reforms introduced in the 2009 Mining Law, but while the draft is generally a positive development, it fails to properly resolve several existing issues," said Herbert Smith Freehills partner David Dawborn.
"Amendments to the 2009 Mining Law are yet to be finalized and continue to be discussed by the Indonesian House of Representatives," said Dhani Maulana Pattinggi Partner at Hiswara Bunjamin & Tandjung. "However, this new draft provides a very clear insight into the likely direction that those amendments may take, and into the eventual law that will be enacted to replace the 2009 Mining Law."
The most significant changes from the current mining law proposed by the draft are:
- Every existing Coal Contract of Work (CCOW) and Contract of Work (COW) must be converted into an Exploration or Production Operation Special Mining Business License (IUPK, which will have a validity period equal to the remaining term of the relevant CCOW/COW) within one year from the enactment of the law.
- The current exemptions to the ore export ban (due to expire on 11 January 2017) will be extended for a further five years for mining companies that already operate processing facilities and are in the process of building refining facilities.
- Tax and non-tax incentives will be granted to the holders of Production Operation Mining Licenses (IUPs) and Special Production IUPs who carry out processing/refining activities by constructing processing/refinery facilities.
- Production Operation IUPs will be granted a longer validity period if they are integrated with processing/refining facilities or a steam power plant, and will not be required to comply with the local divestment obligation until the tenth year after the commencement of production operation activities.
- Production Operation IUP and IUPK holders with foreign shareholders can satisfy their share divestment obligations through an initial public offering on the Indonesian stock exchange.
- The operation of actual mining exploitation activities may be able to be sub-contracted by a mining company to a mining contractor which holds a Mining Services Business Licence (Izin Usaha JasaPertambangan or IUJP, currently controversially prohibited under the 2009 Mining Law).
- Consistent with the Regional Autonomy Law, the elimination of the authority of local regents and/or mayors to issue mining licences.
- The mining of rare earth minerals is only permitted to be undertaken by Indonesian state-owned enterprises (BUMNs).
- Poor global economic conditions are included as a new reason to allow an IUP holder to apply for a suspension of its mining activities.
- The percentage of regional revenue from mining operations that will be distributed to the provincial governor is increased from 1% to 2%.
The full article, which will further discuss the important sections of the new draft mining law will be published on 10 August 2016.
By: HSF & HBT
About Herbert Smith Freehills & Hiswara Bunjamin & Tandjung
HSF operating from over 26 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice.
Hiswara Bunjamin & Tandjung is consistently recognised as one of the leading commercial and corporate law firms in Indonesia, specialising in protection of foreign investor interests, both in transaction and contentious situations.
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David Dawborn |
Dhani Maulana |
Matthew Goerke |
Justikarini Sormin |
The contents of this article, current at the date of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such.
If you believe an article violates your rights or the rights of others, please contact us.
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Friday, 22 March 24
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INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
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THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
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Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
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- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Eastern Energy - Thailand
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
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