Semirara’s 2023 coal sales reached record 15.8m tons

By Alena Mae S. Flores – January 5, 2024, 9:30 pm
from manilastandard.net

Integrated energy firm Semirara Mining and Power Corp. (SMPC) said Friday it achieved a record-high coal sales volume of 15.8 million metric tons (MT) in 2023, up 6 percent from the 2022 level.

SMPC said in a disclosure to the Philippine Stock Exchange the growth was driven a 13-percent rise in export sales which surged to 8.1 million MT from 7.1 million MT.

SMPC owns the biggest coal mine in the country located in Semirara Island in Antique province.

“Our sales performance aligns with our 2023 target of 15 to 16 million metric tons. It also reflects our team’s relentless effort and commitment to deliver stable fuel supply amidst the challenging dynamics of the global market,” said SMPC president and chief executive Maria Cristina Gotianun.

Majority of Semirara coal exports in 2023 went to China (65 percent), South Korea (27 percent) and Brunei (4 percent).

Shipments to Japan, India and Vietnam made up the remainder. China shipments recovered by 31 percent from 4 million MT to 5.2 million MT on heavy stockpiling, consumption recovery and lower hydropower generation.

Demand from South Korea was steady year-on-year at 2.2 million MT, while Brunei sales nearly tripled from 102,967 MT to 306,800 MT.

“Our goal is to ship at least 15 million metric tons of Semirara coal, focusing on the domestic market. This aligns with our commitment to national energy security,” Gotianun said.