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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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- Kaltim Prima Coal - Indonesia
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- Indonesian Coal Mining Association
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
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- Leighton Contractors Pty Ltd - Australia
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- New Zealand Coal & Carbon
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- Commonwealth Bank - Australia
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- Ministry of Finance - Indonesia
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- Wood Mackenzie - Singapore
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- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
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- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
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- PTC India Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
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- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
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- Eastern Coal Council - USA
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
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- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
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- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
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- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
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- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
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- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
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- The University of Queensland
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- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
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- Indian Energy Exchange, India
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- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
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