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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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Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
Thursday, 05 January 17
CAPE MARKET HAVE KEPT SURPRISINGLY FIRM AND ACTIVE DURING THE CHRISTMAS AND NEW YEAR HOLIDAYS - FEARNLEYS
Supramax
The first week after a slow Christmas break has started off with little activity and softening rates. Not surprisingly, the market is fi ...
Thursday, 05 January 17
COMPARISON OF HONG KONG AND LONDON ARBITRATION - SKULD
KNOWLEDGE TO ELEVATE
Whilst London arbitration is the most popular platform for resolution of charterparty disputes, where the parties involved a ...
Wednesday, 04 January 17
INDONESIA'S COAL PRODUCTION IS ESTIMATED TO REACH 434 MILLION TONS IN 2016 EXCEEDED THE GOVERNMENT'S INITIAL TARGET
Indonesia's coal production is estimated to reach 434 million tons in 2016 exceeded the government's initial target. The Ministry of Energy ...
Tuesday, 03 January 17
BENGKULU TO IMPOSE TOUGHER REGULATION FOR UNPROCESSED COAL AND MINERALS EXPORTS IN 2017 - MEDIA
Bengkulu provincial government is planning to impose tougher regulation for export of coal and mineral in 2017. According to liputan6 online portal ...
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- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
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