Indonesian President praises PT Timah's governance reforms and crackdown on illegal mining

Indonesian President Prabowo Subianto lauded PT Timah Tbk's improved governance and the government's efforts to curb illegal tin mining in Bangka Belitung. He highlighted that the crackdown, which involved closing approximately 1,000 illegal mines, is beginning to positively impact the company's operational and financial performance.

"We have closed a thousand illegal mines in Bangka Belitung," Prabowo stated, emphasizing that he has instructed the TNI and Polri to investigate illegal mining activities that harm the state. He asserted that enforcing regulations must be impartial, as this crackdown is part of a broader government initiative to protect national wealth and improve natural resource management.

The positive impact of these reforms is evident in PT Timah's financial results. The company posted a net profit of Rp2.71 trillion in the first half of 2026, an 804.6% surge from Rp300.07 billion in the same period last year. This profit surpassed the company's full-year target of Rp1.61 trillion. Revenue also jumped 146.9% to Rp10.42 trillion.

Operationally, PT Timah saw a 75% increase in tin ore production to 12,232 tons of Sn and a 58% rise in tin metal production to 10,865 metric tons. Sales of tin metal climbed 85% to 10,984 metric tons. These gains were supported by optimized productivity, new operational units, and enhanced exploration and processing facilities. Global tin prices on the London Metal Exchange also rose significantly, contributing to the company's improved performance.