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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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- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Australian Coal Association
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
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