Refinery Facilities Damaged by Force Majeure? Fear Not, as Affected IUPK Holders Can Now Sell Proceeds Abroad

In 2024, the Minister of Energy and Mineral Resources (“ Minister ”) introduced Regulation No. 6 of 2024 (“ Regulation 6/2024 ”) on Completion of the Construction of Metal Mineral Facilities in Indonesia (“ Facilities ”). Broadly speaking, Regulation 6/2024 covers a wide array of aspects relating to the construction of domestic Facilities, as undertaken by holders of Mining Business Licenses  (Izin Usaha Pertambangan– “ IUP ”) for the production operation stage of metal minerals or by holders of Special IUP (IUPKhusus– “ IUPK ”) for the production operation stage of metal mineral commodities that have entered the commissioning stage. [1] It should be noted that various provisions featured under Regulation 6/2024 were summarized in the following edition of Indonesian Legal Brief (“ ILB ”): “ Exporters Rejoice as Metal Minerals Export Ban Postponed until 1 January 2025 ”.