THE DEPARTMENT OF ENERGY HAS expanded the coal operating contract of Semirara Mining Corp. to include some 7,200 hectares of prospective coal-rich areas on the Sibay and Caluya Islands.
In a disclosure to the Philippine Stock Exchange, Semirara said the amendment to COC No. 5 was the “result of the (company’s) geophysical and geological reconnaissance evaluation of the presence of coal occurrences in Sibay and Caluya Islands.”
The amendment also brought the total land area under Semirara’s COC No. 5 to 12,700 hectares.
In June, the energy department granted Semirara a coal reconnaissance permit covering 24 coal blocks on Sibay and Caluya Islands in Antique. After two months, Semirara requested the DOE to amend its COC to include the additional coal areas.
The DOE amended the contract to cover 5,500 hectares (14 coal blocks) on Semirara Island; 3,000 hectares (nine coal blocks) on Caluya Island, and 4,200 hectares (12 coal blocks) in Sibay Island.
“In view of the amendment, the operator will provide P400,000 in assistance in-kind to the DOE to be paid in two equal tranches,” document showed.
Last year, the DOE had extended the company’s contract by another 15 years, giving it the exclusive right to explore, develop and mine for coal on Semirara Island until 2027.
The government, through the now-defunct Energy Development Board, awarded a 35-year contract to another company in July 1977. This was later assigned to Semirara.
Recently, Semirara Mining, through its wholly owned subsidiary, paid Power Sector Assets and Liabilities Management Corp. $150.8 million, representing the down payment for the 600-megawatt Calaca coal power plant.
In a disclosure to the Philippine Stock Exchange, Semirara said the amendment to COC No. 5 was the “result of the (company’s) geophysical and geological reconnaissance evaluation of the presence of coal occurrences in Sibay and Caluya Islands.”
The amendment also brought the total land area under Semirara’s COC No. 5 to 12,700 hectares.
In June, the energy department granted Semirara a coal reconnaissance permit covering 24 coal blocks on Sibay and Caluya Islands in Antique. After two months, Semirara requested the DOE to amend its COC to include the additional coal areas.
The DOE amended the contract to cover 5,500 hectares (14 coal blocks) on Semirara Island; 3,000 hectares (nine coal blocks) on Caluya Island, and 4,200 hectares (12 coal blocks) in Sibay Island.
“In view of the amendment, the operator will provide P400,000 in assistance in-kind to the DOE to be paid in two equal tranches,” document showed.
Last year, the DOE had extended the company’s contract by another 15 years, giving it the exclusive right to explore, develop and mine for coal on Semirara Island until 2027.
The government, through the now-defunct Energy Development Board, awarded a 35-year contract to another company in July 1977. This was later assigned to Semirara.
Recently, Semirara Mining, through its wholly owned subsidiary, paid Power Sector Assets and Liabilities Management Corp. $150.8 million, representing the down payment for the 600-megawatt Calaca coal power plant.
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