Impact of Law No.3 of 2020 on Indonesia's Mining Sector has been saved
Impact of Law No.3 of 2020 on Indonesia's Mining Sector
Business and Industry Updates
The article will explore some of the legal, tax, and financial reporting consequences that mining companies should be aware of.
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 companies may soon need to revisit their licensing, business structures, and operational practices to ensure that they are in full compliance with the law.