President Prabowo Subianto has revealed that measures to regulate\nillegal mining (PETI), particularly for tin commodities, have yielded\nsignificant results. According to his records, PT Timah Tbk (TINS) has\nrecorded a significant improvement in financial performance, with\nprofits soaring by 900% in the first semester of 2026 compared to the\nsame period in 2025.<\/p>\n
Prabowo shared this during a dialogue with senior journalists and\nexperts at Padepokan Garuda Yaksa, Hambalang, West Java, on Sunday\n(6\/9\/2026). He noted that while tin smuggling from Bangka had persisted\nfor decades, the government\u2019s policy to close smuggling routes and halt\nhundreds of illegal mines in Bangka has directly led to PT Timah\u2019s\nmassive profitability.<\/p>\n
He stated that the success in recovering PT Timah\u2019s performance is a\ndirect result of firm law enforcement and the closing of loopholes that\nallowed the leakage of state wealth for decades. Such governance\nimprovements have directly restored the potential revenue of the\nState-Owned Enterprise (SOE).<\/p>\n
Prabowo emphasised that the recovery of PT Timah\u2019s financial\nperformance serves as proof that improved governance and clean\nleadership can transform SOEs from loss-making entities to profitable\nones in a short period. He stressed that the government and SOE boards\nare committed to stopping all forms of malpractice or the theft of state\nassets.<\/p>\n
In addition to the crackdown on the tin mining sector, the government\ncontinues to regulate thousands of other illegal mines and is\nrestructuring SOEs to prevent budget leakages and increase dividend\nreceipts for the state.<\/p>\n
Regarding PT Timah\u2019s H1-2026 performance, the company recorded a net\nprofit increase of 805% to Rp 2.71 trillion. This achievement was driven\nby a 147% surge in revenue to Rp 10.42 trillion, compared to Rp 4.22\ntrillion in the same period of 2025.<\/p>\n
Ilhamsyah Mahendra, Director of Production and Commercial at PT TIMAH\n(Persero) Tbk, stated that this increase was driven by higher sales\nvolumes and an increase in the average selling price of tin metal amidst\nfavourable market conditions. He expressed optimism that productivity\nwill continue to grow consistently until the end of 2026.<\/p>\n
On the operational side, tin ore production reached 12,232 tonnes of\nSn (up 75% YoY), while tin metal production grew by 58% to 10,865 metric\ntonnes of Sn. Sales volume of tin metal also saw a significant increase\nof 85% to 10,984 metric tonnes, with an average selling price (ASP) of\nUSD 49,794 per metric tonne.<\/p>\n
The global tin market throughout H1 2026 remained fundamentally\nsolid, with an average LME Cash Settlement price of US$ 50,319.19 per\nmetric tonne (up 56.68% YoY). High demand from the semiconductor\nindustry, artificial intelligence (AI), data centres, and the global\nenergy transition continues to strengthen tin\u2019s position as a strategic\ncommodity.<\/p>\n
To support business sustainability, the company continues to\nstrengthen land and sea exploration activities. As of H1 2026, PT TIMAH\n(Persero) Tbk recorded total tin resources of 798,000 tonnes and tin\nreserves of 312,000 tonnes of Sn, providing a solid foundation for\nlong-term business development.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/prabowos-crackdown-on-smuggling-leads-to-900-profit-surge-for-pt-timah-1789617203", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }