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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, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Economic Council, Georgia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
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