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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, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
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- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- The University of Queensland
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
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