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