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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, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
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