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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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Monday, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
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- Grasim Industreis Ltd - India
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- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
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- Mercator Lines Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
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- Romanian Commodities Exchange
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- Chamber of Mines of South Africa
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- Semirara Mining Corp, Philippines
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- Interocean Group of Companies - India
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- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
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- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
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- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
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- Lanco Infratech Ltd - India
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- Energy Development Corp, Philippines
- The University of Queensland
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
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- Wilmar Investment Holdings
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- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
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- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
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- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
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- Price Waterhouse Coopers - Russia
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- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
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- Planning Commission, India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
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- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
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- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
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- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
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- PTC India Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
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