MANILA, Philippines - Semirara Mining Corp., the coal mining arm of the Consunji group, is planning to export 2.5 million metric tons (MT) of coal this year.
Cesar Villanueva, Semirara marketing manager, told reporters over the weekend that the projected export level is higher than last year’s one million tons.
Villanueva said they are looking at India, Thailand and Hong Kong as possible export markets for this year.
With its aggressive export activities, Villanueva said they expect to increase their production capacity to five million metric tons. The company also plans to upgrade its facilities.
Aside from export, Semirara sells its coal locally. Among its biggest clients are the National Power Corp., Global Power/STEAG, APEC, Laffard, CEMEX and small textile and milling firms.
Despite the global financial crunch, the company is optimistic that it could double its projected sales to about 4.5 million to five million MT from last year’s 1.5 million to three million MT.
Last year, Semirara was able to secure a 15-year extension of its coal operating contract up to 2027.
Formed in 1980, Semirara undertook an initial public offering (IPO) of its shares in 1983.
In 1977, the government through the Energy Development Board, now the Department of Energy awarded a 35-year coal operating contract to a consortium that subsequently assigned the coal operating agreement to Semirara.
The coal operating contract, which was amended by an agreement dated June 8, 1983, gives the company the exclusive right to conduct exploration, development and coal mining operations on Semirara Island until 2012.
Semirara is engaged in the exploration, mining, development and sales of coal resources on Semirara Island in Caluya, Antique.
The mining firm is one of the four major subsidiaries of DMCI Holdings, the investment vehicle which consolidates all construction business, construction component companies and related interests of the Consunji Family.
The other major subsidiaries of DMCI are D.M. Consunji Inc. (DMCI), DMCI Project Developers Inc. (PDI), and Atlantic Gulf and Pacific Company of Manila, Inc. (AG&P).