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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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Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
Wednesday, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
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- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
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- International Coal Ventures Pvt Ltd - India
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- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
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- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- The University of Queensland
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
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