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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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Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
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- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- The University of Queensland
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
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