President Prabowo Subianto on Monday, October 6, 2025, oversaw the handover of state-confiscated assets worth up to Rp7 trillion (US$427 million) to state-owned tin miner PT Timah, marking one of largest recoveries of assets linked to illegal mining operations.

Speaking at the Tinindo Internusa smelter in Pangkalpinang, Prabowo emphasized the scale of losses caused by years of unregulated mining in the Bangka Belitung Islands.

“The state’s losses from just six companies reached around Rp300 trillion. This must stop,” the President said, stressing that the recovered assets represent only a fraction of what has been lost.

Prabowo also noted that the confiscated assets did not yet include deposits of rare earth minerals, whose potential value could exceed the recovered tin-related assets.

Attorney General ST Burhanuddin handed over Rp1.45 trillion (US$88 million) worth of confiscated assets to PT Timah during the ceremony, witnessed by Prabowo, Defense Minister Prabowo Subianto, Cabinet members, Indonesian Military (TNI) Commander, National Police Chief, and local officials.

The seized assets were linked to a major corruption case involving illegal tin mining operations within PT Timah’s concession areas. The items handed over include six smelters, 108 heavy equipment units, 195 mining tools, 680.6 tons of refined tin, and 22 plots of land totaling 238,848 square meters.

“These assets are now officially the property of the state, represented by PT Timah, and will be used to restore and strengthen the legal tin supply chain,” Burhanuddin said.

The Attorney General’s Office (AGO) is also preparing to auction additional seized assets, including 52 vehicles, 3.5 kilograms of gold, and 820 land plots covering 10.9 million square meters, as well as large amounts of seized cash in rupiah and foreign currencies.

22 individuals, 5 companies charged

The tin corruption case, which has been under investigation since early 2024, involves 22 individuals and five corporate defendants, including CV Venus Inti Perkasa, PT Sariwiguna Bina Sentosa, PT Stanindo Inti Perkasa, PT Refined Bangka Tin, and PT Tinindo Internusa.

Burhanuddin said the AGO had been working with the TNI to trace and recover assets linked to the illegal mining network, which he described as “systemic and deeply rooted.”

“The magnitude of this case reflects decades of leakage in state resources. Through this recovery, we’re not only enforcing the law but also reclaiming national sovereignty over natural wealth,” Burhanuddin said.

Following the handover, PT Timah President Director Restu Widyantoro confirmed that the company will begin operating six confiscated smelters in early 2026, after completing technical inspections and facility rehabilitation.

“These seized assets were previously sealed by prosecutors. We’re now assessing their condition before resuming operations,” Restu said.

The smelters include facilities formerly owned by PT Stanindo Inti Perkasa, CV Venus Inti Perkasa, PT Menara Cipta Mulia, PT Tinindo Internusa, PT Sariwiguna Bina Sentosa, and PT Refined Bangka Tin.

Restu added that PT Timah has been stockpiling tin ore to ensure steady production once the smelters restart, with the goal of strengthening Indonesia’s tin supply chain and boosting exports.

“With President Prabowo’s visit, we are more optimistic about expanding domestic production and curbing illegal mining once and for all,” he said.

PT Timah, a subsidiary of state mining holding MIND ID, is one of the world’s largest tin producers. The company plays a strategic role in the government’s efforts to tighten supervision of tin exports, increase downstream processing, and generate higher value-added products from mineral resources.

Bangka Belitung, which accounts for the majority of Indonesia’s tin output, has long struggled with rampant illegal mining. The government’s latest asset recovery marks a significant step toward reasserting state control over the lucrative tin sector, estimated to be worth hundreds of trillions of rupiah annually.

“This is about protecting Indonesia’s wealth. We will continue to act decisively against those who steal from the nation,” Prabowo said.