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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, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- White Energy Company Limited
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
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- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
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- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
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- Electricity Authority, New Zealand
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- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
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- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
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