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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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Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
Friday, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
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- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
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