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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 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
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- Thiess Contractors Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
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