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