AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
No Result
View All Result
Home Business

Semirara completes filling of Panian pit

The next step includes a reforestation and biodiversity restoration program.

AngMinero News by AngMinero News
May 4, 2022
in Business, News
26 2
0
Semirara completes filling of Panian pit

Image from NASA

84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Consunji-led Semirara Mining and Power Corporation (SMPC) has completed its backfilling operations in the Panian pit in Semirara Island, Antique, once the country’s largest open-pit mine.

SMPC said it was able to fill the 400-hectare area in six years, four years ahead of its ten-year mine rehabilitation plan. The company used over 452 million bank cubic meters (bcm) of earth material to fill the pit, which has the size of 217,000 Olympic-size swimming pools.

“We are mindful of our twin role as stewards and government contractor. What we accomplished in Panian is proof of that,” SMPC President and COO Maria Cristina Gotianun said in a statement.

SMPC is now working on a development plan to reforest and restore the biodiversity in the area.

The Panian pit generated over Php12.7 billion in royalties in its 16-year mine life. Of the total amount, Php7.6 billion went to the national government, Php2.3 billion to the municipal government of Caluya – where the island is located, Php1.8 billion to Barangay Semirara, and Php1 billion to the Antique provincial government.

SMPC recorded a Php16.2 billion net income in 2021, its highest ever.

Meanwhile, SMPC parent firm DMCI Holdings said that its windfall earnings from its surge in commodities could result in “significant drawbacks” if foreign governments decide to tamp down on price increases.

In its 2021 annual report, DMCI has warned of possible policy intervention from China and Indonesia, and that they are anticipating significant volatility in the coal and nickel markets due to global supply disruptions and economic sanctions on Russia, which is deemed to be the third-largest and sixth largest producer of nickel and coal, respectively.

SMPC contributed an income of Php9.2 billion, or a 360% percent increase from the previous year, due to higher coal and electricity prices. Its income contributions also increased by 150% year-on-year to Php 1.2 billion amid the increase in nickel shipments and selling prices.

 

Tags: Consunji groupDMCI Holdingsopen pit miningPanian pitPhilippine Stock ExchangePSESemirara Mining and Power CorporationSMPC

Related Posts

Yamang Minerals Faces Backlash from the Diocese of Bangued for Unauthorized Mining
News

Yamang Minerals Faces Backlash from the Diocese of Bangued for Unauthorized Mining

August 22, 2025
ORE Posts 157M Loss Despite Shipment Volumes and Prices in H1
News

ORE Posts 157M Loss Despite Shipment Volumes and Prices in H1

August 20, 2025
Celsius Advances Benguet Copper-Gold Project, Eyes 2027 Output
News

Celsius Advances Benguet Copper-Gold Project, Eyes 2027 Output

August 19, 2025
MGB releases top mining contributors in reforestation
News

New Knowledge Platform for Small-Scale Mining Pushed by MGB and AGC

August 19, 2025
Benguet Forecasts Stronger 2025 with Gold Surge
News

Benguet Corp H1 Net Income Up 133% to PHP 623.9M on Strong Gold, Nickel Sales

August 19, 2025
Copper-to-Crops: India’s Kiri Industries Targets Integrated Plant in PH
News

Copper-to-Crops: India’s Kiri Industries Targets Integrated Plant in PH

August 19, 2025

FEATURED POST

Yamang Minerals Faces Backlash from the Diocese of Bangued for Unauthorized Mining

Yamang Minerals Faces Backlash from the Diocese of Bangued for Unauthorized Mining

August 22, 2025
ORE Posts 157M Loss Despite Shipment Volumes and Prices in H1

ORE Posts 157M Loss Despite Shipment Volumes and Prices in H1

August 20, 2025
Celsius Advances Benguet Copper-Gold Project, Eyes 2027 Output

Celsius Advances Benguet Copper-Gold Project, Eyes 2027 Output

August 19, 2025
MGB releases top mining contributors in reforestation

New Knowledge Platform for Small-Scale Mining Pushed by MGB and AGC

August 19, 2025

EDITOR PICK'S

Yamang Minerals Faces Backlash from the Diocese of Bangued for Unauthorized Mining

August 22, 2025

ORE Posts 157M Loss Despite Shipment Volumes and Prices in H1

August 20, 2025

Celsius Advances Benguet Copper-Gold Project, Eyes 2027 Output

August 19, 2025

New Knowledge Platform for Small-Scale Mining Pushed by MGB and AGC

August 19, 2025

Benguet Corp H1 Net Income Up 133% to PHP 623.9M on Strong Gold, Nickel Sales

August 19, 2025

Copper-to-Crops: India’s Kiri Industries Targets Integrated Plant in PH

August 19, 2025

China, Indonesia Drive Philippine Nickel Shipments Past $600M

August 18, 2025

Recent News

Yamang Minerals Faces Backlash from the Diocese of Bangued for Unauthorized Mining

Yamang Minerals Faces Backlash from the Diocese of Bangued for Unauthorized Mining

August 22, 2025
ORE Posts 157M Loss Despite Shipment Volumes and Prices in H1

ORE Posts 157M Loss Despite Shipment Volumes and Prices in H1

August 20, 2025

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

  • Setup menu at Appearance » Menus and assign menu to Footer Navigation

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In