Manila Times.net
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PNOC-Exploration Corporation is set to develop several coal projects in its bid to catch up with the country’s largest producer of the commodity.
Gemiliano Lopez, PNOC-EC chairman and chief executive officer, said the company will pursue the development of three additional coal mines in Zamboanga Sibugay covered by Coal Operating Contract 41.
“Our focus is on the three coal mines, Lumbog, Lower Butong and Sta. Barbara. That is our priority,” he said.
The mines are projected to churn out 800,000 metric tons of coal per year by 2015. Reserves, however, have been placed at an initial four million metric tons.
Lopez said that once developed and coupled with the company’s 1.2-million metric ton coal trading activities, PNOC-EC can make a dent in the local coal industry, which is dominated by Semirara Mining Corporation.
SCC operates mines in Antique that produced over five million metric tons of coal last year.
Of PNOC-EC’s three prospective coalmines, the company plans to kick off with the Lumbog project. Development of the coal mine will run from 2011 to 2012, with regular production expected to commence by 2013.
Lopez said the company may tap cement companies converting to coal-fired facilities for the mine’s output.
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