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<p>This study investigates how Indonesia’s largest tin producer, PT Timah, operates within a shifting legal landscape to balance state authority and market demands. Analysis of mining legislation, government regulations, enforcement actions, and corporate disclosures shows that legal ambiguity is deliberately maintained to preserve strategic flexibility and political control. Sequential reforms layer mandates and jurisdictions, creating a moving compliance target while sustaining capital accumulation. PT Timah converts uncertainty into an organizational advantage by aligning national industrial goals with market logic. The concept of extractive legality explains how legal ambiguity stabilizes hybrid state–corporate governance in resource-dependent democracies.</p>

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Extractive Legality and the Governance Paradox of State-Owned Enterprises: The Case of PT Timah in Indonesia

  • 期刊论文

  • 发表日期：

    2026年2月23日

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  • Derita Prapti Rahayu,
  • Faisal Faisal,
  • Yokotani Yokotani,
  • Novendra Hidayat

摘要

This study investigates how Indonesia’s largest tin producer, PT Timah, operates within a shifting legal landscape to balance state authority and market demands. Analysis of mining legislation, government regulations, enforcement actions, and corporate disclosures shows that legal ambiguity is deliberately maintained to preserve strategic flexibility and political control. Sequential reforms layer mandates and jurisdictions, creating a moving compliance target while sustaining capital accumulation. PT Timah converts uncertainty into an organizational advantage by aligning national industrial goals with market logic. The concept of extractive legality explains how legal ambiguity stabilizes hybrid state–corporate governance in resource-dependent democracies.