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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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Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
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- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Economic Council, Georgia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
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