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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, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
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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- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
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