Press Statement of President of the Republic of Indonesia During the Inspection of PT Timah Tbk.’s Ausmelt Top Submerged Lance (TSL) Construction in West Bangka Regency, Bangka Belitung Province, October 20, 2022

President of the Republic of Indonesia (Joko Widodo)

I went to see the new smelter of PT Timah Tbk. today. This shows our commitment to tin downstreaming. Nickel is already done, so we will also start downstreaming of tin, bauxite, and others. This [process] will be completed in November and we hope that tin metal downstreaming movement will be conducted in the same manner as nickel downstreaming. We have not yet calculated when we will stop exporting tin, once that is determined, we will calculate everything. Thus, the process will run smoothly and no one will be disadvantaged. However, once again, we must stop [exporting raw] materials and switch to industrial downstreaming because it can increase added value.

Reporter

What are your hopes from the operation of PT Timah Tbk.’s smelter, sir?

President of the Republic of Indonesia (Joko Widodo)

It will increase added value in the country and create as many job opportunities as possible.

Reporter

How about the suspension of the export, Pak President?

President of the Republic of Indonesia (Joko Widodo)

We are still calculating it. Later, when the calculation has been made and completed, I will announce it. It can stop, for example, next year or this year. However, I believe we must calculate everything, including the readiness of smelters, both state-owned and private.

Thank you

(YC/DH)