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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, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
...
Wednesday, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had & ...
Monday, 05 December 16
INDIAN HYDROPOWER PRODUCTION AT LOWEST LEVEL SINCE 2012, SAYS COMMODORE RESEARCH
According to Commodore Research, the first eleven months of this year have seen India’s overall electricity production total approximately 1. ...
Monday, 05 December 16
THE DECEMBER 2016 HBA HITS TO ITS HIGHEST LEVEL SINCE MAY 2012
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2012. The government declared benchmark prices for Indo ...
Monday, 05 December 16
BALTIC PANAMAX INDEX UP 5.98%; BALTIC CAPE INDEX FELL 2.52% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally slightly continues this past week and ending on a s ...
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- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
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