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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.
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Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
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