PT Timah Partners with Perminas to Develop Indonesia's Rare Earth Metals

PT Timah Tbk (TINS) has announced a collaboration with Perusahaan Mineral Nasional (Perminas) to develop the potential of Rare Earth Elements (REE/LTJ) in Indonesia. The REE to be processed are by-product minerals from tin production.

TINS President Director Restu Widiyantoro explained that the collaboration encompasses two main schemes in the mineral supply chain role division. The company will act as a supplier of raw materials derived from tin production by-products (SHP), which will then be processed by Perminas into downstream products.

“PT Timah has been tasked as the supplier for REE materials or their by-products. The by-products from tin production will serve as the main raw material for Perminas, which will subsequently process them into derivative products,” he stated during a Hearing with Commission XII of the House of Representatives (DPR RI), quoted on Thursday (16/4/2026).

The development plan is projected to contribute foreign exchange to the state within the next two years. In the near term, the government is scheduled to conduct the groundbreaking for the REE research and industrial facility on 20 May 2026.

“This collaboration is programmed to achieve monetisation within two years. Thus, it is expected to produce products that can generate foreign exchange for the country,” he continued.

Restu assessed that the assignment to manage REE represents a major leap for the company in boosting revenues outside its core tin business. Currently, the company has begun collecting raw material by-products from production to prepare as the main supply for Perminas.

“We have received a quite significant leap because with this programme, we have planned to obtain revenue or profit that is far greater than before. This is what we hope for,” he emphasised.