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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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Monday, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
Monday, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
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- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
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