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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, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
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- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
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- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
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- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
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- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
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