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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, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
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