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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 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- The Treasury - Australian Government
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
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