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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
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