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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, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
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