PT Timah sees profit surge amid illegal mining crackdown

President Prabowo Subianto has commended PT Timah Tbk for improvements in mining governance and the crackdown on illegal mining activities in Bangka Belitung. The government reported closing approximately 1,000 illegal tin mines in the region, with the President calling on the TNI and Polri to take firm action against activities that harm the state.

These governance reforms have significantly impacted PT Timah’s financial performance. In the first half of 2026, the company reported a net profit of Rp2.71 trillion, an 804.6 percent increase compared to the same period in 2025. This figure has already exceeded the company's full-year 2026 profit target of Rp1.61 trillion.

Despite these gains, Coordinating Minister for Law, Human Rights, Immigration, and Correctional Affairs Yusril Ihza Mahendra highlighted ongoing challenges regarding tin smuggling to Malaysia and Singapore. He noted that the open waters and geography of the Bangka Belitung Islands make it difficult to monitor small vessels used to transport tin. To address this, the government is considering temporary policies to allow PT Timah to purchase existing tin held by the community while waiting for a Presidential Regulation on tin commodity governance.