PT Timah Tbk (TINS) is seen to have promising prospects in 2025 amid the risk of commodity price fluctuations in global markets.

As is known, TINS recently announced plans to expand into the rare earth elements (REE) sector by developing a Rare Earth Pilot Plant in Tanjung Ular, West Bangka Regency, Bangka Belitung Islands Province.

The company’s current main focus is the revitalization and modification of the Pilot Plant as a monazite processing facility so it can be utilized again as part of REE development.

TINS hopes to quickly create added value through REE industrialization based on by-products from tin mining.

REEs themselves are highly needed by strategic industries such as permanent magnets, hybrid batteries, electronics, and catalysts.

Investment Analyst at Edvisor Provina Visindo, Indy Naila, stated that there is an expectation that demand for tin remains quite strong, both in domestic and global markets. This can support the continuity of TINS’s business operations.

TINS’s move to expand into the REE mineral sector also deserves appreciation as it will support downstreaming of tin products in Indonesia. Moreover, REEs will be required as raw materials in the magnet, electronics, and battery industries.

“Expansion in this sector can help maintain TINS’s margins because there will be operational efficiencies, and their revenue has the potential to rise,” she said, Tuesday (Apr 29).

On the other hand, TINS’s performance will certainly be affected by movements in tin prices, which remain quite volatile amid tariff-war uncertainties.

In addition, the threat of illegal tin mining in the Bangka Belitung area could cause unstable tin supply and harm TINS financially and operationally.

Separately, Senior Market Analyst at Mirae Asset Sekuritas, Nafan Aji Gusta, said that prices of mining commodities, including tin, have a chance to recover in the near term.

This aligns with easing tariff-war tensions as the U.S. has opened negotiations with trade partners affected by import-tariff policies.

If this sentiment continues, it is not impossible that the global economy will stabilize and drive higher demand for tin. “TINS will benefit, especially from a higher ASP (Average Selling Price),” he said, Tuesday (Apr 29).

Nafan recommends accumulating TINS shares with an entry level around IDR 1,000—1,040 per share, targeting IDR 1,060, IDR 1,150, and IDR 1,205 per share.

Indy also recommends a speculative buy on TINS with a target price of IDR 1,300 per share.

Recently, TINS’s share price has rallied significantly. Indeed, at the close of trading on Tuesday (Apr 29), TINS fell 0.85% to IDR 1,165 per share.

However, over the past week, TINS rose 8.88%. The share price of this MIND ID mining-holding member has also surged 38.69% in the past month.

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