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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, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
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