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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, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
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- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Australian Coal Association
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
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