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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, 15 September 16
INDONESIA MAY FACE A COAL CRISIS BY 2035!
COALspot.com: Indonesia is the world’s fourth-largest coal producer and the world’s largest thermal coal exporter may face a coal crisi ...
Thursday, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
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- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
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