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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, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
Monday, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Economic Council, Georgia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Australian Coal Association
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
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