Prabowo Attends Handover of IDR7 Trillion in Illegal Mining Assets to PT Timah in Bangka Belitung

Indonesian President Prabowo Subianto while attending the agenda of handing over assets looted by the state from illegal mining activities to PT Timah Tbk in Pangkal Pinang, Bangka Belitung, Monday (6/10/2025). (ANTARA/HO-Presidential Secretariat)

JAKARTA - President Prabowo Subianto personally witnessed the handover of state confiscated assets (BRN) from illegal mining activities to PT Timah Tbk, worth IDR7 trillion.

The Presidential Secretariat reported on Monday, October 6, that the confiscated assets included hundreds of units of heavy equipment, cash from several countries, and smelter facilities, held at the PT Tinindo Internusa smelter in Pangkal Pinang City, Bangka Belitung Islands Province (Babel).

"This morning I went to Bangka Belitung. Earlier, together we witnessed the handover of state confiscated assets from private companies that violated the law," said President Prabowo in his statement to the media after the event, as reported by Antara.

The asset handover was carried out in stages, starting from the Attorney General to the Deputy Minister of Finance, then from the Deputy Minister of Finance to the CEO of Danantara, and finally from the CEO of Danantara to the President Director of PT Timah Tbk.

The seized goods included a large and diverse amount of assets, including:

- 108 units of heavy equipment

- 99.04 tons of Sn crystal products (crystalyzer)

- 94.47 tons of crude tin in 112 blocks

- 15 bundles of aluminum (15.11 tons) and 10 jumbo bags (3.15 tons)

- 29 bundles of Rfe tin (29 tons);

- 1 employee dormitory

- 53 vehicles

- 22 plots of land totaling 238,848 m²

- 195 mining equipment

- 680,687.6 kg of tin

- 6 smelters

- Cash deposited into the state treasury amounting to IDR202,701,078,370, USD3,156,053, 53,036,000 Japanese yen, 524,501 euros, 765 Singapore dollars, 100,000 South Korean won, and 1,840 Australian dollars.

President Prabowo stated that the value of the assets confiscated and handed over reached IDR 6 to 7 trillion. This value does not include rare earths (monazite), which could be worth much more.

"The value of the six smelters and confiscated items is close to six to seven trillion. But the value of unprocessed rare earths is probably even greater, very large, rare earths. Monazite, yes, one ton of monazite can be worth hundreds of thousands of dollars, 200 thousand dollars," said the President.

President Prabowo also added that the total state losses due to illegal mining activities in the PT Timah area have reached approximately IDR300 trillion.

"We can imagine the state losses from these six companies alone: ​​a total of Rp300 trillion. The state losses are already running at IDR300 trillion, and we're stopping this," the President said.