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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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Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
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- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
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- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
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- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
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- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
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- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
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- London Commodity Brokers - England
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- Riau Bara Harum - Indonesia
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- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
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