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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 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- The University of Queensland
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
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