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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, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
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