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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, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
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