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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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Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
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