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Law regarding Mineral and Coal Mining was enacted in 2009, with the expectation it will develop the mining sector in Indonesia to the next stage in particular and encourage economic growth and increase state revenue in general. The new Indonesian mining law impose certain new
bill – now ratified into Law No. 3 of 2020 (the new mining law), and which is effective as of 10 June 2020, introduces large-scale revisions to the mining law which could improve the feasibility of doing business in Indonesia's natural resources sector. Our key takeaways from the new mining law are as follows: Licensing process is now centralized
Jul 10, 2020· Indonesia, a top global exporter of thermal coal, tin, nickel and copper, is seeking to boost investment in the country's mining sector by removing red tape and streamlining regulations through the new mining law. A judicial review was being requested because the public, regional governments and state-controlled companies had not been involved ...
Jun 24, 2020· The bill now ratified into Law No. 3 of 2020 (the new mining law), and which is effective as of 10 June 2020, introduces large-scale revisions to the mining law which could improve the feasibility of doing business in Indonesia's natural resources sector. Read More: Indonesian mining bill passed into law, poses new challenges and opportunities
Indonesia's new mining law should be seen in the context of a broader trend in countries in the Global South, wanting to be less dependent on the export of raw materials, or seeking to control a larger part of its resources to benefit local and national development. Since 1998, Indonesia has witnessed the rapid growth of a sovereignty ...
Nov 27, 2014· After one month, Newmont withdrew its case against Indonesia but only after it had reached an agreement with the Indonesian government, giving the mining company special exemptions from the new mining law. Newmont Mining & Law No. 4/2009 on Mineral and Coal. Newmont is one of the world's biggest mining companies, producing mainly gold.
Jul 21, 2020· As with new laws in Indonesia, there is a lag between the passage of the 'Law' and release of the all-important implementing regulations, and the 2020 Mining Law is no different. The upcoming regulations to the 2020 Mining Law (" New Mining Regulations ") should provide greater clarity on how the new provisions in the 2020 Mining Law ...
Oct 09, 2020· Indonesia: Mining Laws and Regulations 2021. ICLG - Mining Laws and Regulations - covers common issues in mining laws and regulations – including the acquisition of rights, ownership requirements and restrictions, processing, transfer and encumbrance, environmental aspects, native title and land rights – in 15 jurisdictions.
Indonesia Introduces Significant Changes to Mining Law. Indonesia's House of Representatives has passed a long-awaited amendment to the Mining Law, which promises to introduce significant changes to the sector and how mining companies operate in the country. After years of deliberation, the House passed the bill (the " Mining Bill ") on ...
Law Number 6 of 1983 regarding General Procedures and Provisions for Taxation as most recently amended by Law Number 16 of 2009. Residency Taxation in Indonesia is determined on the basis of residency. Residency tests are applied as follows: • Individual resident taxpayers are individuals who: - are domiciled in Indonesia; or
May 12, 2020· On 12 May 2020, the parliament passed a law amending (2020 Mining Law Amendment) the 2009 Mining Law (Law No.4 of 2009 on Mining Mineral and Coal).What you need to know. The following highlights some new and key provisions in the 2020 Mining Law Amendment which are worth noting for investors and mining companies:
May 12, 2020· Indonesia's parliament passed revisions to its mining law on Tuesday that will allow miners to extend permits and seek expansion of mining areas beyond current legal limits. Other parts of the law ...
While no amendments to the 2009 Mining Law have yet been finalized and the amendments continue to be discussed by the Indonesian House of Representatives, the MEMR Draft New Mining Law provides useful insight into the latest policy positions of the Indonesian Government in relation to mining business activities in Indonesia.
Jun 12, 2020· Further, the Mining Bill also focuses on the sustainability of mining in Indonesia, as indicated by the obligation for mining companies to set aside exploration funds to find new mineral deposits. Finally, the government also locks in a number of mining policies which, in the past, have usually been left to regulations of a lower rank in the ...
Mining Law and Policy in Indonesia: Issues in Current Practice that Need Reform. June 2015. Journal of Energy & Natural Resources Law 19 (4) DOI: 10.1080/02646811.2001.11433242. Project: mining ...
Oct 01, 2012· The most dramatic effect of new regulations on Indonesia's mining industry has been on mineral exports, which surged as companies fought to beat a …
Indonesia's new mining regulations have resulted in a high-stakes dispute with foreign investors, but what effects will these legal changes have on the environment? The jury is still out. In January, Indonesia relaxed regulations on the export of unprocessed ores, but also required some mining companies to change their operating licenses — most notably U.
The latter is aimed at boosting investment in Indonesia. Therefore, the mining law is aligned with business interests. Mr Supriatma presented some controversial chapters and verses in the new mining law. For example, the law defines the mining areas as the whole space of this archipelagic country, including water, land, and below the surface.
14 Jul 2020 Indonesia's New Mining Law Heralds Significant Change but Challenges Lie Ahead . Indonesia's Parliament (Dewan Perwakilan Rakyat / DPR) and Government have availed themselves of the public's preoccupation with the Covid-19 pandemic to successfully push through important new mining legislation with a minimum of publicity, thus avoiding the concerted opposition that thwarted ...
Jun 24, 2020· Fitch Ratings-Singapore-24 June 2020: Indonesia's new mining regulations, which clarify key aspects pertaining to the extension of Coal Contracts of Work (CCoW), are largely in line with Fitch Ratings' expectations and will not affect the ratings of the country's coal miners.
The new Mining Law No. 3/2020 has been enacted on 10 June to amend Mining Law No.4 /2009. The law paves the way for several changes including on matters related to mining areas determination, centralization of authority as well as licensing of mining businesses, among others. Given the changes along with potential impacts that follow, mining ...
The Constitution stipulates that Indonesia's natural resources are controlled by the state and must be used for the maximum benefit of the Indonesian people. Article 4, paragraph 2 of Law 4/2009 on Coal and Mineral Mining (Law 4/2009) enables the central government or the regional government to exercise control over mineral mining activities.
Jan 22, 2014· Therefore, entrepreneurs need certainty regarding enforcement of new Mining Law No.4/2009 on Minerals and Coal Mining. "Apart from the investment permit application, they also have medium-term plans to expand their business. If Mining Law No.4/2009 is consistent, then they are going to invest." Siregar said.
Indonesian Government Regulation 2017 triggers major shifts in the country's mineral and coal mining industries. Mineral mining companies who depend heavily on mineral exports will be particularly affected by the new policies. Primary changes require all companies operating under a Contract of Work to transfer to a single licensing regime, and introduce stringent mineral export ...
Nov 10, 2020· The Omnibus Law amends various provisions in laws across numerous sectors, including Law No. 4 of 2009 regarding Mineral and Coal Mining, as amended by Law No. 3 of 2020 (together, the "Mining Law"). The Omnibus Law does not introduce significant changes to the Mining Law, adding just one provision and amending another provision.
Jun 21, 2020· Indonesia has passed into law a controversial measure aimed at expanding the country's mining industry albeit seen to have socioenvironmental impacts. Jakarta Post reported on Friday that Indonesian President Joko "Jokowi" Widodo officially signed the Coal and Mineral Mining Law on June 10 despite the strong apprehension from civil society organizations, allegedly due to larger […]
"Welcome to the tenth edition of PwC Indonesia's Mining in Indonesia: Investment and Taxation Guide. Since the Law on Mineral and Coal Mining No. 4 of 2009 (the "Mining Law") was promulgated, various implementing regulations, including a number of amendments, have been issued by the Government in pursuing the goals of the Mining Law.
Oct 30, 2020· Indonesia's 2020 Job Creation Law (Omnibus Law) has been heralded for introducing significant reforms in a range of areas, including Indonesia's laws on investment, employment, immigration, environmental standards, business licensing and building permits.In this note we discuss the potential impact on investors in the energy, resources and infrastructure sectors as part of our …