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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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Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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