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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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Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- The University of Queensland
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
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