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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, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
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 ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
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