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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, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Planning Commission, India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
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