Indonesia’s state-controlled miner PT Timah Tbk (TINS) has secured a Rp 4 trillion (USD 251.3 million) 12-month revolving bridge loan from state-owned lender Bank Mandiri, structured to bridge export-proceeds requirements and bolster corporate liquidity as soaring tin prices drive a historic profit surge. The DHE-SDA financing lets the company preserve working capital to ramp up production and capture the current cyclical peak without breaching central-bank currency-retention rules.

Underpinned by artificial-intelligence data-center demand and global supply deficits, London Metal Exchange tin prices are projected to average USD 50,000 per metric ton in 2026, up 46.7% year-on-year, after touching an all-time record of USD 57,960/MT on June 3, 2026. Between January and October 20, 2026, average LME tin prices stood at USD 51,719/MT, jumping 56.6% compared with USD 33,027/MT a year earlier. Although the International Tin Association projects the global balance to shift from a 5,300-tonne deficit in 2025 to a modest 3,600-tonne surplus in 2026, prolonged extraction delays in Myanmar and falling head grades across Yunnan, China, continue to protect prices from sharp corrections.

The price environment is translating into explosive earnings. Brokerage KB Valbury Sekuritas initiated coverage with a “Buy” rating and a Rp 4,800 target, modeling full-year 2026 gross revenue of Rp 21 trillion (USD 1.32 billion), up 81.8%, and consolidated net profit of Rp 2.9 trillion (USD 182.2 million), up 117.8%, with every 1% rise in LME tin spot prices estimated to lift revenue by about 1% and operating profit by 2.8%. Operationally, first-half 2026 tin ore extraction jumped 74.8% year-on-year to 12,232 tonnes and refined tin output rose 58.2% to 10,865 tonnes, supported by tighter enforcement against illegal mining across Bangka Belitung.