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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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Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
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- Trasteel International SA, Italy
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- White Energy Company Limited
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
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- PetroVietnam Power Coal Import and Supply Company
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- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- PTC India Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
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