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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, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
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- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
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