New Mining Regulation on Divestment of Foreign Investment Company in Indonesia
Posted by indonesiamininglaw in Goverment Regulation on September 10, 2012
Government Regulation Number 23 of 2010 (“PP No. 23/2010”) on Implementation of Mining Business Operations is amended by Government Regulation Number 24 of 2012 (“PP No. 24/2012”). There are some matters covered in PP No. 24/2012.
Under Article 3 (a) PP No. 24/2012, a Mining Business Permit (“IUP”) is able to be issued by the Minister, governor or regent/mayor for Indonesian Limited Liability Companies established under the framework of domestic investment and foreign investment. However, IUP for foreign investment company can only be granted by the Minister.
Further, under Article 97 of PP No. 24/2012, foreign investment company which holds the IUP shall divest the share gradually so that Indonesian shareholder must have 51% of its share on the tenth year. In Article 97 paragraph (1) (a) it sets the minimum shareholding of Indonesian shareholder after the fifth year as follows: Read the rest of this entry »
Investing in gold mining stocks: Few important details
Posted by indonesiamininglaw in US Mining Law on June 21, 2012
Gold investment can be a very profitable form of investment. Apart from investing in gold in its physical form such as gold bars and gold coins, one can make a lot of profit by purchasing gold mining stocks. By investing in gold mining stocks you can earn considerable amount of money and utilize that money for meeting your various financial requirements such as paying off debt. The profit earned through investment in gold mining stocks can enable you to clear your debt much faster. Read along to find more information about investment in gold mining stocks.
Investing in gold mining stocks: An explanation
Investing in gold mining stocks involve the purchase of stocks of gold mining companies. For making profit, stocks are purchased when their price is low and sold off when their price increases. Though the price of gold mining stock rises with the rise of the price of gold, there are other factors which impact the price of gold mining stocks. As investing in gold mining stocks involve purchasing stocks of a company, the price of stocks can depend on the functioning and reputation of the company. Problems such as structural failure, mismanagement, corruption, theft, negative publicity etc can reduce the price of stocks. While investing in gold mining stocks, pick a company which is experienced and which has a good reputation. That way you can make a lot of profit and use the money for mitigating financial problems such as debt.
Tips for investing in gold mining stocks
In order to reap the maximum benefits out of your investment in gold mining stocks, follow the tips given below: Read the rest of this entry »
Types of Mining Business
Posted by indonesiamininglaw in Mining Business on January 17, 2012
Pursuant to Article 34 of Law No. 4 of 2009 on Mineral and Coal Mining (“Mining Law”), mining business can be divided into two types:
(i) Mineral mining; and
(ii) Coal mining.
The Governmental Regulation No. 23 of 2010 on the Implementation of Mineral and Coal Mining Business Activities (“GR 23/2010”) states that the implementation of mineral and coal mining business activities is fundamentally purposed to benefit the society as a whole.
Mineral Mining
The classifications of mineral mining are: Read the rest of this entry »
Small Scale Mining Area (Wilayah Pertambangan Rakyat)
Posted by indonesiamininglaw in Mining Area on January 13, 2012
Background
As explained in Article 1 (32) of Law No. 4 of 2009 on Mineral and Coal Mining (“Mining Law”), Small Scale Mining Area means a part of the mining zone (wilayah pertambangan) where small scale mining activities are performed. These areas are determined by the mayors/municipal governments after consulting with the Regional House of Representatives of district or cities (Dewan Perwakilan Rakyat Daerah Kabupaten/Kota). Article 22 of Mining Law lays down a few criteria that guides the determination/designation of Small Scale Mining Area, which would be publicly announced by the relevant mayors/municipal governments. Those are: Read the rest of this entry »
Executive Summary on Regulation of Minister of Energy and Mineral Resources No. 28 of 2009 on The Conduct of Mineral and Coal Mining Services Business
Posted by indonesiamininglaw in Indonesia Mining on June 16, 2011
Regulation of Minister of Energy and Mineral Resources No. 28 of 2009 on The Conduct of Mineral and Coal Mining Services Business (the “Minister Regulation”) is issued in Jakarta on September 30, 2009. This Minister Regulation is the implementing regulation of Article 127 of Law No. 4 of 2009 on Mineral and Coal Mining (the “Mining Law”).
Important points that may affect your business
1. Affiliated Company
Holders of Mining Permit (Ijin Usaha Pertambangan – “IUP”) or Special Mining Permit (Ijin Usaha Pertambangan Khusus – “IUPK”) may not involve subsidiaries and/or its affiliate company of mining services business.
Article 8
Paragraph (1)
“At no time shall any Mining Permit holders or Special Mining Permit Read the rest of this entry »
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