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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, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- White Energy Company Limited
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
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