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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.
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Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
Monday, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
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- Sree Jayajothi Cements Limited - India
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- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- The University of Queensland
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- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
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- Semirara Mining and Power Corporation, Philippines
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- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
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- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
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- Globalindo Alam Lestari - Indonesia
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- Economic Council, Georgia
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- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
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- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
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- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
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- Therma Luzon, Inc, Philippines
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- Sindya Power Generating Company Private Ltd
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- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- PTC India Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
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- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
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- Heidelberg Cement - Germany
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- IHS Mccloskey Coal Group - USA
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- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
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- Kalimantan Lumbung Energi - Indonesia
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- Aboitiz Power Corporation - Philippines
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