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