Semirara Mining and Power Corporation

Last updated
Semirara Mining and Power Corporation
FormerlySemirara Mining Corporation
Company type Public
PSE:  SCC
Industry Mining
FoundedFebruary 26, 1980;44 years ago (1980-02-26)
HeadquartersDMCI Building,
Makati
,
Philippines
Products Coal
Production output
14.5 million MT [1]  (2019)
Parent DMCI Holdings
Website www.semiraramining.com

The Semirara Mining and Power Corporation (SMPC) is a mining company based in the Philippines. The company, a subsidiary of DMCI Holdings, operates its main coal mine in Semirara Island and is the biggest coal producer in the Philippines accounting for 92 percent of the total national production as of 2015. [2]

Contents

History

The company was established on February 26, 1980 [3] as the "Semirara Coal Corporation" (SCC). [4] The company entered an agreement with the Department of Energy for an exclusive right to develop, explore, and mine coal resources on Semirara Island in the town of Caluya, Antique. [3] The company discovered coal mining sites in Semirara in Unong and Panian. In 1981, coal deposits were discovered in a third site; in Himalian. [5] SCC, along with Austrian state firm Voest Alpine opened the first coal mining site in the island in Unong in 1984. [5]

In 1997, DMCI Holdings, Inc. began acquiring in SCC securing 40 percent of the company's common shares which it bought from Voest Alpine. [5] By 1999, DMCI gained a controlling stake in SCC, introducing a new management to the company which was renamed as Semirara Mining Corporation. [4] It also opened the company's second mining site in Panian in anticipation of the Unong mine's closure. SMC was listed in the Philippine Stock Exchange in 2005. [5]

SMC exported its first coal to China in 2007 and has since then expanded its foreign market to include India, Hong Kong, Japan, Taiwan, and Thailand. [2]

It changed its name to the "Semirara Mining and Power Corporation" (SMPC) in 2014 to reflect the expansion of its business to include electricity generation on top of its coal mining operations. [3]

SPMC exhausted the Panian mine in 2016, [1] which was replaced by the Narra and Molave mines within the same year. [6]

In 2018, SMPC relinquish its rights to explore and mine coal in Caluya and Sibay Islands, which neighbors Semirara Island. [7]

Coal mining

The Panian site in Semirara Island, which is an open cut mine. ISS023-E-15142 lrg.jpg
The Panian site in Semirara Island, which is an open cut mine.

SPMPC's primary mining site is in Semirara Island where it has operated numerous coal mines. It operated the Unong Pit in Semirara Island until 2000 and the Panian Pit until 2016. It opened the Narra and Molave Pit in the islands as replacements. [1]

List of coal mines

Accidents

In February 2013, at least five miners died after a collapse at the Panian Pit in Semirara Island. [9] Nine miners died in a separate accident in 2015 after a collapse in the same mine caused by a rain-induced landslide. [10]

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References

  1. 1 2 3 Rivera, Danessa (18 January 2020). "Semirara to expand coal mine area in Antique". The Philippine Star. Retrieved 27 March 2021.
  2. 1 2 Macas, Trisha (17 July 2015). "FACTSHEET: The DMCI-owned Semirara Mining Corporation". GMA News. Retrieved 27 March 2021.
  3. 1 2 3 "Company Information:Semirara Mining and Power Corporation". PSE Edge. Philippine Stock Exchange. Retrieved 27 March 2021.
  4. 1 2 "Business Profile". Semirara Mining and Power Corporation. Retrieved 27 March 2021.
  5. 1 2 3 4 Inquirer, Philippine Daily (15 February 2013). "In the know: Semirara Mining Corp". Philippine Daily Inquirer. Retrieved 27 March 2021.
  6. ↑ "Minutes of the Annual Stockholders' Meeting of Semirara Mining And Power Corporation" (PDF). Semirara Mining And Power Corporation. 2 May 2017. p. 3. Retrieved 28 March 2021. ...the Board of Investments approved the registration of Narra and Molave mine projects with full ITH incentives. Both new mines achieved commercial operation last October 2016.
  7. ↑ Hallare, Katrina (15 October 2019). "Semirara: We've given up mining in 2 Antique sites since 2018". Philippine Daily Inquirer. Retrieved 27 March 2021.
  8. ↑ "FAST FACTS: Semirara Mining's Panian mine". ABS-CBN News. 22 July 2015. Retrieved 27 March 2021.
  9. ↑ Geronimo, Gian (14 February 2013). "Five miners killed, five missing as Semirara coal mine collapses". GMA News. Retrieved 27 March 2021.
  10. ↑ "OCD: 9 workers dead after Semirara mining mishap". GMA News. 17 July 2013. Retrieved 27 March 2021.
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