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Manila Bulletin devider Business devider The Stock Market devider DOE weighs bidding out Semirara Mining's Antique coal concession

DOE weighs bidding out Semirara Mining's Antique coal concession

Published Jan 15, 2026 01:21 pm
The Department of Energy (DOE) is weighing whether to grant a contract extension to Semirara Mining and Power Corp. or open its massive Antique coal operations to a competitive auction.
Energy Secretary Sharon Garin said the government is currently reviewing a request from the Consunji-led miner to extend its Coal Operating Contract for another 13 years.
The current agreement, which covers the country’s largest coal reserves on Semirara Island, is slated to expire in 2027. The DOE expects to reach a formal decision within the first quarter of 2026.
The deliberations center on the legal and technical precedent of the 50-year-old concession. While the department is exploring a public bidding process because the initial long-term tenure has concluded, Garin admitted that there are technical barriers to entry for potential competitors.
SMPC’s open-pit operations on the island involve complex sea-barrier technology and specialized extraction methods that the energy secretary described as potentially unique on a global scale.
The uncertainty comes as SMPC aggressive expands its footprint. In June 2025, the company secured an Environmental Compliance Certificate from the Department of Environment and Natural Resources to add more than 5,221 hectares to its existing 13,000-hectare project area.
The company has earlier stated it intends to begin extraction at its new Acacia pit within the year to maintain its production momentum.
SMPC remains a critical pillar of the Philippine energy landscape, producing between 16 million and 20 million metric tons of coal annually. Its integrated model includes a 900-megawatt power generation capacity that provides a significant portion of the base-load electricity for the Luzon-Visayas grid.
The company’s original contract was first extended in 2012 for a 15-year period, reflecting the government's historical reliance on the Antique site to reduce energy imports.
The DOE legal team is currently validating SMPC’s claims regarding the remaining mineable life of the site and the feasibility of a handover.
Shares of SMPC have historically been sensitive to regulatory updates regarding its Antique operations, which account for the vast majority of its consolidated revenue.
Sought for comment, SMPC told Manila Bulletin on Thursday, Jan. 15 that “discussions with the DOE on the term adjustment of our coal operating contract are ongoing, with no material updates at this time,”
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