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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
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