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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 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
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