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 News

Semirara Mining registers Php10B income for 3Q

AngMinero News by AngMinero News
November 4, 2022
in 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

Semirara Mining and Power Corporation (SMPC) has registered a net income of Php10.2 billion in the first quarter of 2022, a 153% jump from the Php 4 billion recorded in the same period last year.

This brings the company’s consolidated net income to Php 36 billion nine months into the year, SMPC said in a disclosure to the Philippine Stock Exchange.

The mining company said that the increase was mainly attributed to elevated market prices, all-time high coal production, and higher spot electricity sales volume.

“Historically, the third quarter is our slowest because of the rainy season and sluggish demand. But because of improved market prices, we did much better than expected,” SMPC president and COO Maria Gotianun said in a statement.

SMPC’s coal production in the past nine months grew by as much as 27% to 13.7 million metric tons (MMT) from last year’s 10.8 MMT due to controlled water seepage levels in its Molave mine and better coal access in its East Block 4 and South Block 5.

Its power arm, meanwhile, posted a 216% increase in its spot market sales to 1,546-gigawatt hours from 489 GWh last year.

 

Tags: Philippine Stock ExchangePSESemirara Mining and Power CorporationSMPC

Related Posts

Misamis Oriental Gov. Juliette Uy Calls for Crackdown on Illegal Mining in Opol, Manticao
News

Misamis Oriental Gov. Juliette Uy Calls for Crackdown on Illegal Mining in Opol, Manticao

July 3, 2025
FNI registers Php 1.9B net income for 2021
News

PH Nickel Miner FNI Recognized for Legal Excellence in Asia

July 1, 2025
Cordillera Miners Urged to Halt Operations During Rains as Landslide Risks Rise
News

Cordillera Miners Urged to Halt Operations During Rains as Landslide Risks Rise

June 25, 2025
Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment
News

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

June 24, 2025
Masbate Mine Solar Shift to Save PHP 150M, Cut 8,500 Tons of CO₂ Annually
News

Masbate Mine Solar Shift to Save PHP 150M, Cut 8,500 Tons of CO₂ Annually

June 23, 2025
DMC Ensures Responsible Mining and Tree Replanting in Cagayan Valley
News

DMC Ensures Responsible Mining and Tree Replanting in Cagayan Valley

June 17, 2025

FEATURED POST

Misamis Oriental Gov. Juliette Uy Calls for Crackdown on Illegal Mining in Opol, Manticao

Misamis Oriental Gov. Juliette Uy Calls for Crackdown on Illegal Mining in Opol, Manticao

July 3, 2025
FNI registers Php 1.9B net income for 2021

PH Nickel Miner FNI Recognized for Legal Excellence in Asia

July 1, 2025
Cordillera Miners Urged to Halt Operations During Rains as Landslide Risks Rise

Cordillera Miners Urged to Halt Operations During Rains as Landslide Risks Rise

June 25, 2025
Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

June 24, 2025

EDITOR PICK'S

Misamis Oriental Gov. Juliette Uy Calls for Crackdown on Illegal Mining in Opol, Manticao

July 3, 2025

PH Nickel Miner FNI Recognized for Legal Excellence in Asia

July 1, 2025

Cordillera Miners Urged to Halt Operations During Rains as Landslide Risks Rise

June 25, 2025

Cagayan Valley DENR Chief Commends Mining Firms for Reforestation Investment

June 24, 2025

SMPC Earns Gold in FinanceAsia Awards for Outstanding Corporate Governance and Management

June 23, 2025

Responsible Mining Pays Off: Apex Mining Wins Regional Bronze for Best-Managed Company

June 23, 2025

Masbate Mine Solar Shift to Save PHP 150M, Cut 8,500 Tons of CO₂ Annually

June 23, 2025

Recent News

Misamis Oriental Gov. Juliette Uy Calls for Crackdown on Illegal Mining in Opol, Manticao

Misamis Oriental Gov. Juliette Uy Calls for Crackdown on Illegal Mining in Opol, Manticao

July 3, 2025
FNI registers Php 1.9B net income for 2021

PH Nickel Miner FNI Recognized for Legal Excellence in Asia

July 1, 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