IDNtribune.com, Pangkal Pinang – President Prabowo Subianto officially handed over six tin smelters and other assets confiscated from corruption cases worth approximately Rp7 trillion to PT Timah Tbk (TINS) on Monday (October 6, 2025). The symbolic handover took place at PT Tinindo Internusa’s smelter facility in Bukitintan District, Pangkal Pinang City.
According to Prabowo, the assets originated from companies proven to have engaged in illegal mining and corruption within PT Timah’s mining concession areas. “Those involved have been prosecuted, and the Attorney General’s Office has confiscated six smelters with a total value reaching between Rp6 to Rp7 trillion,” Prabowo stated.
The assets include 108 heavy equipment units, 195 mining tools, 680,687 kilograms of tin metal, 22 land parcels covering 238,848 square meters, and one accommodation building. If fully operational, these assets could generate annual revenue of up to Rp4.6 trillion.
Prabowo also revealed that the confiscated sites contain valuable rare earth elements, particularly monazite, estimated at 40,000 tons. With each ton valued at approximately US$200,000, the potential loss to the state from these illegal operations is estimated to have reached Rp300 trillion.
Previously, the Attorney General’s Office named five corporations — PT Refined Bangka Tin, PT Stanindo Inti Perkasa, PT Sariwiguna Bina Sentosa, CV Venus Inti Perkasa, and PT Tinindo Inter Nusa — as suspects in the PT Timah mining corruption case, which caused environmental damage valued at Rp271 trillion.
