SEMIRARA Mining and Power Corp. (SMPC) expects to receive clearance from the Department of Environment and Natural Resources (DENR) for its mine site in Antique in the second half of the year, bringing it closer to commencing production.
“We expect to receive the ECC (environmental compliance certificate) for the Acacia Mine from the DENR within the second half of 2025,” SMPC President and Chief Operating Officer Maria Cristina C. Gotianun said during the company’s annual stockholders’ meeting on Monday.
An ECC is a document issued by the DENR to the proponent, certifying that a proposed project has been reviewed and is found to have no significant negative environmental impact.
The Acacia Mine is estimated to hold approximately 80 million metric tons of coal reserves.
Ms. Gotianun said that exploration and pre-stripping activities are currently underway, with production targeted to start by 2026.
The planned exploration of the mine site is part of the company’s P291-billion Semirara Coal Mine Complex Expansion Project in Caluya, Antique.
The expansion project aims to enhance the company’s existing Molave and Narra mines, along with future expansion in Acacia, to ensure continued coal production.
Meanwhile, SMPC Chairman and Chief Executive Officer Isidro A. Consunji said that the company is hoping the Department of Energy (DoE) will act on its request to amend specific terms of its coal operating contract this year.
“We are awaiting the DoE’s action and approval. We hope to obtain this within the year,” Mr. Consunji said.
The contract, which is set to expire in 2027, grants the company the exclusive right to conduct exploration, development, and coal-mining operations in Semirara Island.
The company said that the changes would focus on “the adjustment of the term when coal operations were under government control.”
For the duration of the contract, SMPC said it is also awaiting further clarification from the DoE on the specific terms of the contract.
The company has earmarked a capital expenditure budget of P6.9 billion for 2025, with a significant portion allocated to its coal business.
For the first three months, the company reported a 33% decline in net income to P4.4 billion, amid the continued normalization of coal selling prices, cushioned by improved performance in the power segment.
“We navigated the softer energy market through improved power generation and coal production, strengthened contracting strategies, and disciplined cost management. These fundamentals will continue to guide us in an increasingly dynamic energy landscape,” Ms. Gotianun said.
SMPC, a subsidiary of DMCI Holdings Corp., is the largest coal producer in the country. The company supplies fuel to power plants, cement factories, and other industrial facilities across the Philippines. It also exports coal to China, South Korea, Brunei, and other nearby markets.
At the local bourse on Monday, shares in the company declined by 1.49%, closing at P33 apiece. — Sheldeen Joy Talavera
