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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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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
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