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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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Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
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- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- The University of Queensland
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- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
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- Singapore Mercantile Exchange
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- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
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- New Zealand Coal & Carbon
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- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
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- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
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- Energy Link Ltd, New Zealand
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- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
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- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
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- Port Waratah Coal Services - Australia
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- Semirara Mining and Power Corporation, Philippines
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- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- The Treasury - Australian Government
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- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
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- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
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- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
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- Price Waterhouse Coopers - Russia
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- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
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- Siam City Cement PLC, Thailand
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