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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, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
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- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
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