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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 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- Mercator Lines Limited - India
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- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
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- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
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- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
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- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
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- Larsen & Toubro Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
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- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
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- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
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- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
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- Madhucon Powers Ltd - India
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- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
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- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
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- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
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- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
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- Thiess Contractors Indonesia
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- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
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- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
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