Under pressure from all quarters, President Joko Widodo and his economic team finally relented and agreed to re-negotiate hard-rock mining contracts of work 10 years before they are due to expire, to provide more certainty to an industry on its knees.

Part of a wide-ranging economic stimulus package unveiled last week, an amendment to a crucial regulation in the 2009 Mining Law appears to clear the way for Phoenix-based Freeport McMoRan Copper &