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 aims to ship 50,000 tonnes of coal to Japan

AngMinero News by AngMinero News
June 2, 2023
in Business, News
28 0
0
DOE investigates SMPC incident in Antique

Photo from BusinessWorld | bworldonline.com

84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

In an effort to diversify its export markets and reduce reliance on China, Semirara Mining and Power Corp. stated that it will ship 50,000 tonnes of coal to Shikoku Electric Power Co Inc. in Japan.

Semirara mentioned that their second trial shipment to Japan, destined for Shikoku’s 700-megawatt power station, comes after their previous sale of 78,410 tonnes of medium-grade coal to J-Power in January.

In a statement released on Thursday, SMPC president and chief operating officer Maria Cristina Gotianun said, “China is still our main foreign buyer but with their industrial output growing slower than expected, we want to develop other Asian markets like Japan.”

In the first quarter, Semirara saw a 50% drop in coal shipments to China from the same period last year, falling from 2.2 million metric tons to 1.1 million metric tons, which accounted for 72% of the company’s total exports.

The company’s share of the Philippines’ coal output stands at 99%, and it has diversified its export markets to encompass buyers from Vietnam, Cambodia, Thailand, and South Korea.

The company refers to South Korea as a “steady market,” as it constituted one-fifth of their export sales with first quarter shipments amounting to 300,000 tonnes.

Semirara aims to achieve sales of 15 million to 16 million tonnes for the full year, surpassing its 2022 sales of 14.8 million tonnes. The majority of its coal production is utilized to power domestic power plants, including those owned by the company.

In line with its decarbonization objective, the Philippines has been actively promoting a transition away from coal and oil in power generation. To support this goal, the country has implemented a ban on new coal-based power projects and is actively encouraging investments in natural gas and renewable energy sources.

Despite the prevailing circumstances, Semirara maintains a positive outlook on the domestic coal market, highlighting the Philippines’ long-term economic growth and the limited availability of baseload power capacity expected to enter the local market in the coming years.

Tags: coal shipmentSemirara Mining and Power Corp.Shikoku Electric Power Co Inc.

Related Posts

DENR targets small-scale mining ratification
Business

DENR targets small-scale mining ratification

October 4, 2023
DMCI to decommission Berong mine
Business

DMCI surpassed mine rehabilitation targets

September 29, 2023
Foreign chambers OK with lifting of mining ban
News

Mining Fiscal Regime passes final House reading

September 27, 2023
DMCI set to open two new mining sites
Business

DMCI set to open two new mining sites

September 26, 2023
Philex 2021 core net income soars 118% to Php2.53B
Business

Philex eyes Padcal mine life extension

September 25, 2023
Philex 2021 core net income soars 118% to Php2.53B
Business

Philex seeks entry into nickel mining

September 21, 2023

FEATURED POST

DENR targets small-scale mining ratification

DENR targets small-scale mining ratification

October 4, 2023
DMCI to decommission Berong mine

DMCI surpassed mine rehabilitation targets

September 29, 2023
Foreign chambers OK with lifting of mining ban

Mining Fiscal Regime passes final House reading

September 27, 2023
DMCI set to open two new mining sites

DMCI set to open two new mining sites

September 26, 2023

EDITOR PICK'S

DENR targets small-scale mining ratification

October 4, 2023

DMCI surpassed mine rehabilitation targets

September 29, 2023

Mining Fiscal Regime passes final House reading

September 27, 2023

DMCI set to open two new mining sites

September 26, 2023

Philex eyes Padcal mine life extension

September 25, 2023

Philex seeks entry into nickel mining

September 21, 2023

DENR adopts digitalization initiatives to streamline mining applications

September 20, 2023

Recent News

DENR targets small-scale mining ratification

DENR targets small-scale mining ratification

October 4, 2023
DMCI to decommission Berong mine

DMCI surpassed mine rehabilitation targets

September 29, 2023

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

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

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2023 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