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Manila Bulletin devider Business devider The Stock Market devider Consunji's Semirara touts 30-year edge ahead of island auction

Consunji's Semirara touts 30-year edge ahead of island auction

Published May 4, 2026 06:11 pm
Ma. Cristina C. Gotianun and Isidro A. Consunji
Ma. Cristina C. Gotianun and Isidro A. Consunji
Consunji-led Semirara Mining and Power Corp. (SMPC) is leaning on its three-decade operational history as it prepares for the government auction of its coal assets in Antique province.
Speaking at the company’s annual stockholders’ meeting on Monday, May 4, Isidro Consunji, SMPC hairman said that the firm remains committed to its operations until its current contract expires in July 2027.
The Department of Energy (DOE) earlier deferred Semirara’s request for a license extension, opting instead to open the island’s coal resources to a competitive bidding process.
While technical and administrative hurdles have delayed the auction, SMPC is positioning its institutional knowledge as its primary competitive advantage.
Consunji noted that nearly 30 years of activity on Semirara Island have allowed the company to develop specialized technical capabilities. These include managing increasingly complex mining conditions, specifically persistent water seepage issues that require sophisticated engineering solutions.
According to the SMPC chairman, this track record makes the firm uniquely qualified to continue stewardship of the site.
The uncertainty regarding the contract renewal has already impacted the company’s financial planning. Semirara slashed its capital expenditure budget for the year to ₱1.9 billion, a sharp reduction from the initially planned ₱6.9 billion. 
SMPC attributed the 72 percent cut to a decision to scale down re-fleeting programs as a contingency for a potential exit in 2027.
Maria Cristina Gotianun, SMPC president, said the company is currently refining a mine plan designed to bolster national energy security while maintaining the flow of government royalties and community investments.
She reiterated that the company’s safety and efficiency protocols are optimized for the specific geological challenges of the Antique site.
The company’s operational update comes amid shifting financial landscape. Semirara reported that net income for the first quarter fell 12 percent to ₱3.8 billion, driven by drop in power sales, which overshadowed gains made from increased coal production and stronger global coal price benchmarks.
At end-March, the company maintained a dependable capacity of 860 megawatts, with approximately 50 percent of that volume tied to bilateral contracts.

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Semirara Mining and Power Corp. (SMPC)
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