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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
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