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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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Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
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