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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, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
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- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
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