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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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Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
Wednesday, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
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- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
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- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
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- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
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- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
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- VISA Power Limited - India
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- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
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- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
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- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
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- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
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- SMC Global Power, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
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