Handover of six smelters confiscated by AGO to PT Timah

President Prabowo Subianto inspected a smelter owned by PT Tinindo Internusa when he arrived in Pangkalpinang City, Bangka Belitung Islands Province on Oct. 6, 2025. During the visit, Prabowo also witnessed the symbolic handover of six smelters confiscated by the Attorney General's Office (AGO) of Indonesia to tin production state-owned enterprise (SOE) PT Timah Tbk.

The symbolic handover of state assets was done by Attorney General Sanitiar "ST" Burhanuddin to Deputy Finance Minister Suahasil Nazara; Investment and Downstream Industry Minister/Investment Coordinating Board (BKPM) Head Rosan Perkasa Roeslani, who is also chief executive officer of Daya Anagata Nusantara (Danantara) Investment Management Agency; as well as PT Timah President Director Restu Widiyantoro.

Prabowo was also accompanied by Energy and Mineral Resources Minister Bahlil Lahadalia, Defense Minister Sjafrie Sjamsoeddin, Indonesian National Police (POLRI) Chief Gen. Listyo Sigit Prabowo, Indonesian Military (TNI) Commander Gen. Agus Subiyanto, and Special Crimes Deputy Attorney General Febrie Adriansyah.

During a press conference, Prabowo stated that the six smelters were seized by the state from private companies that had violated the law.

"This is [the consequences of] illegal mining in the PT Timah area. Thus, those involved have been punished and the authorities, including the AGO, have confiscated the six smelters," he explained.

Prabowo added that the value of the six confiscated smelters reached around Rp 6-7 trillion. In addition to factory assets, there were also confiscated mining products, including rare earth minerals as well as tin ingots and ores.

"But the value of the unmined rare earth minerals is probably much higher, much higher. The rare earth minerals [that was seized] include monazite," he said.

Prabowo continued that monazite, a rare earth mineral from tin mining, could be valued by up to US$200,000 per ton. He divulged that state losses because of corruption and illegal mining operations by the six sanctioned companies could reach up to Rp 300 trillion.

"State losses have already reached Rp 300 trillion. We have stopped [further losses from the crime]," the president concluded.