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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, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
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