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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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Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
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- PTC India Limited - India
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- Mintek Dendrill Indonesia
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- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- The University of Queensland
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
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- Sree Jayajothi Cements Limited - India
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- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
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- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
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