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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, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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- Coalindo Energy - Indonesia
- Aditya Birla Group - India
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- The State Trading Corporation of India Ltd
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- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
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- Minerals Council of Australia
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- Edison Trading Spa - Italy
- Videocon Industries ltd - India
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- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
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- Australian Commodity Traders Exchange
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- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
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- Bukit Makmur.PT - Indonesia
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- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
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- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
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- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
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- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
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- Oldendorff Carriers - Singapore
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- Kepco SPC Power Corporation, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
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- Ministry of Transport, Egypt
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- Cement Manufacturers Association - India
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- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
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- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- The University of Queensland
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
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- Economic Council, Georgia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
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- Bhatia International Limited - India
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- Standard Chartered Bank - UAE
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