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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, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Planning Commission, India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
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