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Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT


Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater certainty after the introduction of new mining regulations, a senior government mining official said on Thursday.

Southeast Asia's largest economy has struggled to lure foreign investment into mining in recent years, compounded by some politicians taking a nationalist line on resource exploitation and also because of uncertainty over regulations tied to a new mining law passed in 2008.

"We expect investments to reach $2.5 billion next year as we hope to see more new investors if the new mining rules are going well," said Bambang Setiawan, Director General of Mineral, Coal and Geothermal at the Energy and Mining Ministry.

Major global resource firms operating in Indonesia include Freeport-McMoRan Copper & Gold Inc and Newmont Mining Corp, but much of the investment was made decades ago. To read more  Reuters



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