Indonesia
PT Timah Reports Significant Profit Surge in H1 2026, Plans Target Revision
The Indonesian tin producer PT Timah Tbk (TINS) has announced a remarkable increase in its financial performance for the first half of 2026, prompting plans to revise its operational targets.
PT Timah Tbk (TINS), Indonesia's state-owned tin mining company, has reported an impressive financial performance for the first half of 2026, with revenues reaching Rp 10.4 trillion (approximately USD 683 million), a 147% increase year-on-year. The company's net profit soared to Rp 2.7 trillion (around USD 176 million), marking an 805% rise compared to the same period last year, according to reports from KONTAN and CNBC Indonesia.
In light of this remarkable growth, PT Timah plans to revise its Rencana Kerja dan Anggaran Perusahaan (RKAP) or Work Plan and Budget for 2026. Fina Eliani, the company's Director of Finance and Risk Management, indicated that the original targets, which included a production volume of 30,000 tons of tin and a revenue target of Rp 15.4 trillion (approximately USD 1 billion), have already been surpassed in the first half of the year. The company is currently awaiting shareholder approval for the revised targets.
“On the first half of 2026, the company has already surpassed its annual profit target.”Fina Eliani, Director of Finance and Risk Management
Operationally, PT Timah is enhancing its production capabilities, particularly in offshore mining. Ilhamsyah Mahendra, the Director of Production and Commercial, stated that the company has added four new production vessels to boost output by the end of 2026. Additionally, PT Timah is expanding its land mining operations through partnerships and increasing its operational equipment.
The company is also pursuing global market expansion, particularly in Southeast Asia and Europe, with new market entries in the Philippines and strengthened presence in the UK. Reports indicate that PT Timah's market share in India has significantly increased from 5% to 12%, driven by growing demand in the semiconductor and public health sectors.
“The increase in production is supported by additional operational units and ongoing government support.”Restu Widiyantoro, CEO of PT Timah
Despite geopolitical uncertainties and global economic fluctuations, PT Timah noted that the average cash settlement price for tin on the London Metal Exchange (LME) in H1 2026 was USD 50,319.19 per metric ton, a 56.68% increase from the previous year. This price surge reflects the continued strong fundamentals of the tin market, despite supply chain challenges.
As PT Timah prepares for its revised targets, the company remains optimistic about its operational strategies and market opportunities. The ongoing digital transformation and energy transition are expected to further drive demand for tin, particularly in technology applications such as electric vehicles and data centers.