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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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Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
Monday, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
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- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
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- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
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- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- New Zealand Coal & Carbon
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- Kohat Cement Company Ltd. - Pakistan
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- The University of Queensland
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- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
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- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- PTC India Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
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- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
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