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