BIZ BUZZ: Coal mines live another day
From what could have been a big slap to the local coal mining industry, the Department of Energy (DOE) has backtracked.
A higher official from the agency said that an earlier statement from her comrade “might have been taken out of context.”
“It’s not our mandate to close mining plants,” Energy undersecretary Mylene Capongcol said at the energy forum that the Economic Journalists Association of the Philippines hosted last week.
Capongcol even said that the DOE “appreciate[s]” those mining firms that are pouring money into renewable energy facilities to power their operations—like the floating solar in Cebu and ground-mounted solar project in Masbate.
She also said there are so-called “green metals” used for energy projects, like batteries and electric vehicles.
Reacting to the initial news, Consunji-led Semirara Mining and Power Corp., the country’s largest coal producer, had said that while it backs energy transition efforts, coal “remains the backbone of our baseload supply, ensuring affordable and reliable electricity.”
A DOE official previously revealed to reporters that the agency has partnered with the United Nations Office for Project Services (UNOPS) to study the impact if the Philippines moves to shut down not just coal mines, but also coal plants.
The study, which is eyed to begin next year, will focus on the impact on workers and host communities—as well as the financial buffer needed to protect them if that day comes.
On coal plants, Capongcol doubled down that there were no shutdown plans, although a ban on new facilities remains. The government, she noted, is just pursuing other technologies.
Indeed, a reassuring pat on the back for our coal lovers.
