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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.
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Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
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- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
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- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
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- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
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