Nationalistic policies imposed by Indonesia’s previous administration - including a ban on unprocessed mineral exports - threw the resources sector into turmoil last year.
Now, there are signs under President Joko Widodo that the government is trying to mend fences with wary investors and entice more money back into resources.
Indonesia’s resources sector contributed about 12 per cent of GDP last year, or about US$101 billion, but investment slipped and the ban on exporting minerals cost $6 billion in lost revenue.
The government now plans to relax parts of the ban, as well as pushing to resolve some protracted mining disputes and dealing with a backlog of expiring energy contracts that have frustrated foreign investors.
"There are still lots and lots of difficult hurdles to overcome, but we are seeing something of a change in mindset and that’s good news," said mining law expert Bill Sullivan, foreign counsel at Christian Teo Purwono & Partners.
The more open approach was on show at a recent global coal conference in Bali, where Indonesia’s energy and mining minister, Sudirman Said, candidly answered questions on a host of issues concerning the packed auditorium after his speech.