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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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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- Economic Council, Georgia
- Indogreen Group - Indonesia
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- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- South Luzon Thermal Energy Corporation
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- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
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- Parliament of New Zealand
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- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
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- Romanian Commodities Exchange
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- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
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- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
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- Australian Coal Association
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- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
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- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
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- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
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- Anglo American - United Kingdom
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- Gujarat Electricity Regulatory Commission - India
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- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
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- Ministry of Finance - Indonesia
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- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
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- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
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- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
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- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
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- Siam City Cement - Thailand
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