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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, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
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- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
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