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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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Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
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- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
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- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
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- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
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- Larsen & Toubro Limited - India
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- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
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