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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, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
Monday, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
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, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
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- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
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