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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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Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
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- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
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- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
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- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
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- GN Power Mariveles Coal Plant, Philippines
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- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
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- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Planning Commission, India
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- The University of Queensland
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
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- Economic Council, Georgia
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- Deloitte Consulting - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
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- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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