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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, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
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- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
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- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
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- Bhatia International Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
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- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
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- Semirara Mining Corp, Philippines
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- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
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