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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, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- PTC India Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
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