PANGKALPINANG -- The Indonesian government is taking serious steps to improve the governance of the tin industry in the country. This was stated by President Prabowo while witnessing the handover of state-confiscated assets to PT Timah Tbk at the Tinindo Inter Nusa Smelter Area in Pangkalpinang on Monday, October 6, 2025.
During the visit, the President directly inspected the state-confiscated assets that had gone through legal proceedings, such as tin ingots, tin ore, and several other items.
Attorney General ST Burhanudin then symbolically handed over the assets to Deputy Minister of Finance Suahasil Nazara, who passed them to Danantara CEO Rosan Roeslani, and finally to PT Timah’s President Director, Restu Widiyantoro.
“We are witnessing the handover of confiscated assets from a private company involved in illegal tin mining. Six smelters are being handed over, and not just smelters, but also rare earth elements with high value, such as monazite,” said the President.
The President stated that state losses from the tin corruption case amounted to 300 trillion rupiah. He expressed his appreciation for the Attorney General’s Office for helping to recover Indonesia’s natural resource wealth.
“This is proof that the government is serious and determined to eradicate smuggling, illegal mining, and all forms of law violations. I have asked the Commander of the Armed Forces and Customs to continue these efforts to protect the nation’s wealth for the people,” he said.
Deputy Minister of Finance Suahasil Nazara explained that the confiscated assets were handed over to Danantara, which will be managed by PT Timah as part of an effort to optimize the assets so they can contribute to the country.
“Once managed by PT Timah, we hope these assets will generate revenue for the state, by increasing production and creating jobs for the community. If production increases, it will have a positive impact on state revenues. Hopefully, PT Timah can manage and operate these assets properly so that they generate income for national welfare,” he said.
Meanwhile, PT Timah Tbk President Director Restu Widiyantoro said the company would first conduct a study of the assets handed over by the state to ensure their optimal use.
“We will first review their condition and location since they were just handed over today. After that, we’ll use the equipment and facilities to boost production and PT Timah’s contribution to Bangka Belitung,” said Restu.
According to him, PT Timah will optimize the state-transferred assets so they can be properly utilized and increase PT Timah Tbk’s contribution to the nation and society.
“We are optimistic about increasing production, especially with these promising assets. We will begin managing them right away,” he concluded.
