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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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Sunday, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
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- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- VISA Power Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
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