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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, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
Monday, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
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- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
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