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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, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
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