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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, 18 October 16
COAL PRICES KEPT CLIMBING
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, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
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- Aditya Birla Group - India
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- London Commodity Brokers - England
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- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
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- Edison Trading Spa - Italy
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- IHS Mccloskey Coal Group - USA
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- Australian Coal Association
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- Carbofer General Trading SA - India
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- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
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- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
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- SMC Global Power, Philippines
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- AsiaOL BioFuels Corp., Philippines
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- Videocon Industries ltd - India
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- LBH Netherlands Bv - Netherlands
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- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
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- Samtan Co., Ltd - South Korea
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- Economic Council, Georgia
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- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
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- Orica Australia Pty. Ltd.
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