Semirara coal sales reach new high

Tycoon Isidro Consunji-led Semirara Mining and Power Corp. (SMPC) reached a new record high for coal shipments in 2024 following robust demand from here and China.

In a disclosure on Tuesday, the company said coal shipments had hit 16.5 million metric tons (MT) last year, a 4.4-percent improvement from 2023’s 15.8 million MT.

“For the third consecutive year, we have hit our maximum coal production of 16 million metric tons under our existing Environmental Compliance Certificate (ECC). This milestone underscores the SMPC team’s dedication and commitment to meet rising local and global energy demand,” said SMPC president and chief operating officer Maria Cristina Gotianun.

Foreign shipments inched up 4 percent to 8.4 million MT, with the Chinese market driving the growth as it cornered the majority of the exports or 7.6 million MT.

SMPC, a part of the Consunji family’s core business, likewise booked higher shipments for its clients in the cement and power sectors, climbing by 4 percent to 8 million MT.

It noted that 20 percent of the 1.3 million MT sold to cement facilities were supplied to associate company Cemex Holdings Philippines Inc. SMPC supplies coal requirements for cement companies. It said coal is used to heat raw materials in the pyro-processing stage of cement production.

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“While we anticipate market prices to further normalize in 2025, we remain focused on strengthening our customer network and enhancing operational efficiencies to effectively support national energy security and meet the growing demand from the industrial and cement sectors,” Gotianun added.

In the first nine months of 2024, SMPC recorded lower earnings due to weaker coal prices and higher expenses. It earlier said net income had fallen to P15.71 billion from P22.62 billion a year ago.