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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 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Wednesday, 08 February 17
MARKET INSIGHT - PANOS MAKRINOS
The challenges the oil market has witnessed since the end of 2014 has resulted in a crisis for the global offshore oil and gas exploration industry ...
Tuesday, 07 February 17
WE ARE STILL RIDING ON A WAVE OF MARKET IMPROVEMENT, WITH THE GLOBAL TRADE OF MOST COMMODITIES STILL SHOWING SIGNS OF IMPROVING GROWTH - GEORGE LAZARIDIS
The end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally comi ...
Monday, 06 February 17
AFTER MONTHS OF GAINS, THE INDONESIAN GOVERNMENT DECLARED MONTHLY COAL BENCHMARK PRICE IS STEADILY DROPPING
COALspot.com: Over the past two months, the HBA of Indonesian thermal coal has dropped around 18.06 percent. It sank to $ 83.32 per ton for Februar ...
Monday, 06 February 17
THE FREIGHT MARKET CONTINUED ITS DOWNFALL IN ALL SEGMENTS
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was declined in all segments week ending 27 January. The fall was cont ...
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- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
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