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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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Tuesday, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
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