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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, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
Monday, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
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- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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