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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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Wednesday, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
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- Merrill Lynch Commodities Europe
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- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Marubeni Corporation - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Australian Coal Association
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
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