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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, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
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