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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.
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Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
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- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
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