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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
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