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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, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
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- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Planning Commission, India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
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