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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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Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
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 ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- White Energy Company Limited
- Ministry of Mines - Canada
- McConnell Dowell - Australia
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