MANILA, Philippines — Semirara Mining and Power Corp. (SMPC), chaired by tycoon Isidro Consunji, shattered records in coal sales volume last year, fueled by stronger demand from both China and the domestic market.
The integrated energy company sold 16.5 million metric tons of coal in 2024, surpassing its previous record of 15.8 million MT set in 2023.
SMPC president and COO Maria Cristina Gotianun said the company also reached 16 million MT in coal production for the third straight year, hitting the maximum limit allowed under its existing environmental compliance certificate.
“This milestone underscores the SMPC team’s dedication and commitment to meet rising local and global energy demand,” said Gotianun, who also serves as the company’s chief sustainability officer.
Last year, SMPC saw coal exports rise by four percent to 8.4 million MT on the back of robust China shipments, which jumped by 46 percent to 7.6 million MT.
Domestic shipments likewise improved, increasing by four percent to eight million MT amid higher sales to local cement producers and power plants.
In fact, around 20 percent of the 1.3 million MT sold to cement plants was supplied to Cemex Holdings Philippines Inc., a listed company acquired by the Consunji Group last year for $272 million.
Cemex is the fourth-largest cement producer in the country, responsible for the production of Apo Portland Cement, which is popular in the Visayas and Mindanao.
“While we anticipate market prices to further normalize in 2025, we remain focused on strengthening our customer network and enhancing operational efficiencies,” Gotianun said.
These initiatives, she added, are expected to help SMPC “effectively support national energy security and meet the growing demand from the industrial and cement sectors.”
As the country’s leading coal producer, SMPC supplies fuel to power plants, cement factories and industrial facilities nationwide.
Aside from China, it also exports coal to South Korea, Brunei and other nearby markets.
In the first nine months of 2024, the company reported a net income of P15.71 billion, down by 31 percent from P22.62 billion in 2023 due to weaker selling prices and higher costs.