Diversifying conglomerate San Miguel Corp. said Wednesday it will bid for coal exploration areas to be offered by the Energy Department.
San Miguel president Ramon Ang confirmed that the company’s energy unit, San Miguel Energy Corp., would participate in the government’s planned auction.
“Yes, we will join the bid,” Ang said when asked for comment.
The government is offering three coal exploration contracts in Cebu, Surigao del Sur and Zamboanga del Norte provinces. Energy has not scheduled the coal auction yet.
Ang said last year that San Miguel would continue to pursue coal exploration in Indonesia while boosting local projects.
“We’re looking at either acquisitions or joint venture for Indonesian coal mines,” Ang said.
San Miguel owns 100 percent of three local mining companies whose coal mines in Mindanao are capable of delivering 1,200 megawatts of electricity in the island grid.
San Miguel is interested in coal projects because it is in charge of securing the fuel requirement of the 1,200-MW Sual coal-fired power plant in Pangasinan. San Miguel acts as trader of the Sual coal plant’s electricity output.
The company acquired 100 percent of Daguma Agro Minerals Inc. in March last year.
Daguma Agro owns a coal mine in South Cotabato and Sultan Kudarat province, which are known for their rich coal deposits.
San Miguel also bought Bonanza Energy Resources Inc., which operates a nearby coal concession also in the Daguma area.
It acquired Sultan Energy Philippines Corp. from the group led by businessman Frederick Lu. Sultan’s coal mine is located beside the coal concession areas owned by Daguma Agro and Bonanza Energy.
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