By Donnabelle L. Gatdula (The Philippine Star) Updated December 22, 2009 12:00 AM Comments (0)  |
MANILA, Philippines - The Department of Energy (DOE) has allowed Semirara Mining Corp., owned by the Consunji family, to mine and develop coal in Caluya and Sibay Islands in Antique. In a disclosure to the Philippine Stock Exchange, Semi-rara said it would explore 24 areas, covering the second amendment of its coal operating contract (COC) No. 5 which includes a land area of 3,000 and 4,200 hectares in Caluya and Sibay Islands, respectively.
Based on Semirara’s original coal contract, it could develop only about 5,500 hectares in Semirara Island.
“The request for amendment of COC 5 contract area is the result of the operator’s geophysical and reconnaissance evaluation of the presence of coal occurences in Sibay and Caluya Islands,”
the amended agreement said. The DOE said it found Semirara’s request for amendment as “meritorious” and directed the company to pay P400,000 in two tranches “in consideration of the amendment to the contract.”
Earlier, the DOE also approved the extension of Semirara’s contract in Antique by another 15 years from July 13, 2012 up to July 24, 2027. The contract covers 13 blocks in Semirara Island.
Semirara is the country’s largest local coal company in the country. It is mainly engaged in the exploration, mining, development and sale of coal resources.
Semirara started to supply coal to power the 600-megawatt Calaca coal plant in Batangas, now also owned by the Consunji Group. Currently, Semirara is one of the four major business interests of DMCI Holdings Inc., the investment vehicle which consolidates all construction business, construction component companies and related interests of the Consunji Family.
The other major DMCI units are D.M. Consunji Inc., DMCI Project Developers Inc. and Atlantic Gulf and Pacific Co. of Manila Inc. (AG&P).
Based on Semirara’s original coal contract, it could develop only about 5,500 hectares in Semirara Island.
“The request for amendment of COC 5 contract area is the result of the operator’s geophysical and reconnaissance evaluation of the presence of coal occurences in Sibay and Caluya Islands,”
the amended agreement said. The DOE said it found Semirara’s request for amendment as “meritorious” and directed the company to pay P400,000 in two tranches “in consideration of the amendment to the contract.”
Earlier, the DOE also approved the extension of Semirara’s contract in Antique by another 15 years from July 13, 2012 up to July 24, 2027. The contract covers 13 blocks in Semirara Island.
Semirara is the country’s largest local coal company in the country. It is mainly engaged in the exploration, mining, development and sale of coal resources.
Semirara started to supply coal to power the 600-megawatt Calaca coal plant in Batangas, now also owned by the Consunji Group. Currently, Semirara is one of the four major business interests of DMCI Holdings Inc., the investment vehicle which consolidates all construction business, construction component companies and related interests of the Consunji Family.
The other major DMCI units are D.M. Consunji Inc., DMCI Project Developers Inc. and Atlantic Gulf and Pacific Co. of Manila Inc. (AG&P).
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