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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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Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- PTC India Limited - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Australian Coal Association
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Planning Commission, India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
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