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PT Timah targets 23,000 tons of annual production for 2025
WINDONESIA March 18, 2025
Stacks of tin ingots sealed by PT Timah at the Muntok Metallurgy Unit Area in West Bangka Regency, Bangka Belitung Islands. (Bisnis/Denis Riantiza M.)
Mining holding state-owned enterprise (SOE) MIND ID subsidiary PT Timah Tbk. targets its annual production to reach 23,000 tons in 2025, up from 20,000 tons in 2024.
"In 2024, we [produced] 19,000 to 20,000 tons, so there will be an increase of around 15 percent [for] planned [production] in 2025," said TINS Corporate Secretary Rendi Kurniawan in a media briefing in Jakarta on Mar. 12, 2025.
Rendi divulged that the company aims for its profit to reach Rp1.1 trillion for 2024. He added that PT Timah also sought to continue to improve its governance, as well as open new mining areas in Bangka Belitung Islands Province and Riau Islands Province.
"[and] also refurbishment of mining equipment," said Rendi.
On a separate occasion, Rendi stated that PT Timah sought to increase tin ore production capacity and tin ingot sales by around 10 to 20 percent this year compared to the performance it achieved in 2024. He also ensured that the demand for tin ingot will experienced relative growth this year.
"The tin market is currently in a positive prospect," Rendi said when contacted some time ago.
Previously, PT Timah confirmed that it would distribute dividends for the 2024 financial year (FY). The decision was taken after the company managed to record a significant net profit of Rp908.78 billion for the January to September 2024 period. The company's management estimates that the dividend payout ratio (DPR) for FY 2024 will be in the 30 to 35 percent range.
PT Timah, which is publicly listed, is targeting for its revenue to reach Rp12 trillion to Rp13 trillion in 2025, which would support its net profit aim of Rp1 trillion to Rp1.5 trillion for the year. Rendi said this year's target was driven by an increase in tin resources and reserves, as well as the opening of several new mines.
"Improvements in performance, restructuring of the company's subsidiaries, and [improved] efficiency in all company business," said Rendi when contacted on Feb. 8, 2025.
