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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, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Siam City Cement - Thailand
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
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