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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
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