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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, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
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- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
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