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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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Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
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