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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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Monday, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- The University of Queensland
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- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
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- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
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- Indonesian Coal Mining Association
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- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
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- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
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- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
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- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
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- Wilmar Investment Holdings
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- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
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- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
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- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
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- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
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- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
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