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SMC to invest P60-B power plant on Mactan Island
by Philippine Resources - May 02, 2022
Photo: San Miguel Corporation
Mactan Island will soon become home to Cebu’s biggest power plant after the San Miguel Corporation (SMC) signified its intention to invest in a liquefied natural gas (LNG)-powered plant in the city of Lapu-Lapu, Mayor Junard Chan on Thursday said.
“Dako nakong pasalamat nga aduna na poy laing kadaugan nga makab-ot ang atong syudad nga mao ang intensyon sa San Miguel Corporation nga mo-invest og usa sa pinakadakong power plant diri sa Cebu gamit ang LNG kon liquified natural gas (I am very thankful for another victory that our city will achieve soon as the San Miguel Corporation signified to invest in one of the largest power plants here in Cebu using LNG or liquified natural gas),” Chan said in a statement posted on his social media account.
He said SMC will invest PHP60 billion in the construction of the 600-megawatt power plant.
Chan did not mention where in Lapu-Lapu City the power plant will be built but he posted a proposed site development plan for the plant.
According to the E-Connect Energy website, transforming gas into electric power is made possible through the thermodynamic process of converting the chemical energy stored in the natural gas to thermal energy through mechanical energy to electrical energy.
Chan said SMC’s entry into the power sector in Lapu-Lapu City where it intends to pour its investment for its first-ever LNG-propelled power plant, is also expected to help solve electric power supply woes which are not only experienced in Mactan Island but the entire Cebu province.
Chan said it will give jobs to the residents of Mactan Island.
“Dili na usab makasinati puhon ang mga Oponganon og problema sa kuryente lakip na ang silinganang mga dakbayan (Oponganons will no longer experience power problems, including in neighboring cities),” he said.
Oponganons refer to the residents of Mactan Island.
Chan said the city government’s effort to tap investors is bearing fruit now that the SMC, the country’s largest and most diversified conglomerates, showed interest in investing in a business venture in the city.
“Nagpasabot lang kini nga ang atong administrasyon karon duolonon gayud sa mga investors o dagkong mga mamuhonan kay dako ang ilang pagsalig sa atong pagdumala ug pagpangga sa mga katawhang Oponganon (It simply means that our current administration is really close to investors or big investors because they have a lot of confidence in our management and care for the Oponganon people),” he said.
Chan said more big businessmen informed him of their intention to invest and contribute to the economic growth in Lapu-Lapu City.
Lapu-Lapu City, including the island villages of Olango Group of Islands and the municipality of Cordova, is under the distribution franchise area of Mactan Electric Company.
It sourced its electric power distributed to the households and its industrial clients like the Mactan-Cebu International Airport and the Mactan Export Processing Zone from the Kepco-SPC in Naga City in southern Cebu. By John Rey Saavedra
Article courtesy of the Philippine News Agency
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Marcelle P. Villegas - September 01, 2021
The 7th PH-EITI report, industry outlook transparency for oil, gas and mineral resources (Part 1)
The PH-EITI National Conference 2021 was held last July 29 with the theme "Resiliency in Transparency". PH-EITI or Philippine Extractive Industries Transparency Initiative, is a government-led, multi-stakeholder initiative that implements EITI. The initiative started on 26 November 2013 under Executive Order No. 147, series of 2013. It is a government commitment first announced through EO No. 79, s. of 2012. The initiative aims to promote the open, accountable management and good governance of oil, gas and mineral resources industries. The three-hour webinar/conference featured various keynote speakers. “This is the second year that we are holding this meeting online due to the pandemic. This underscores the exceptional circumstance under which we have to operate into the foreseeable future. Nevertheless, I congratulate the EITI for its efforts to organize this national conference and produce an annual report despite all the challenges.” This was part of the Opening Remarks given by Hon. Carlos G. Dominguez, Secretary of Department of Finance.
Philippine Resources - September 02, 2021
Gov’t gets P1.7-B royalty payment from integrated energy firm
The government, through the Department of Energy (DOE), has received nearly PHP1.7 billion in royalty payment from integrated energy company Semirara Mining and Power Corp. (SMPC) for the second quarter of the year. In a statement Tuesday, SMPC said this is the highest quarterly royalty payment to the government after the firm recorded a revenue of PHP14.8 billion from April to June 2021. SMPC’s revenue in the second quarter of 2021 was supported by all-time high coal sales and higher average selling prices. Of the PHP1.7 billion turned over to the government, PHP1 billion will go to the national government that can be used to fund programs to fight coronavirus disease 2019 (Covid-19). Some PHP666 million will go to local government units (LGUs) that host SMPC mine sites --PHP136 million for the province of Antique, PHP300 million for the municipality of Caluya, and PHP230 million for Barangay Semirara. Under the Local Government Code of 1991, host LGUs of petroleum, coal, geothermal, hydrothermal, and wind facilities shall receive 40 percent of the royalty proceeds. “The pandemic has taken a significant toll on our country. We hope that our contribution can help boost our government’s response against Covid-19,” SMPC president and chief operating officer Maria Cristina Gotianun said. SMPC is the country’s lone power producer that mines its own fuel source --integrating its coal mining and power operations to create a local value chain. Based on its website, SMPC generates 900 megawatts of power with an additional 1,200 MW of coal-fired power in the pipeline.
Philippine Resources - August 06, 2021
Law Establishing PH Energy Research Institute Inked
President Rodrigo Duterte has signed a law establishing the Philippine Energy Research and Policy Institute to enhance the country’s capability for energy research and policy development. Republic Act 11572, signed by Duterte on July 30, establishes the institute as an independent agency attached to the University of the Philippines (UP) with a separate budget from the premier university. Under the new law, an executive director to head the institute shall be a recognized expert in energy research and policy development with at least three years experience in the energy sector and shall have a strong organizational management background. The executive director, appointed by the UP President upon recommendation of the Executive Board, shall serve in full-time capacity for a term of five years which may be renewed. The institute’s Executive Board shall be composed of seven members comprised of the UP President as the ex-officio chairperson, and at least one representative from the fields of engineering, law, science, statistics, economics, social science, and public health, either from the academe or the private sector. Four members shall come from the academe, two members shall come from the private sector, while each representative shall come from different fields. Other members of the Executive Board shall be chosen by the UP President. Each member shall have a term of three years, which can be renewed for two more terms. The first two appointees from the academe and the first appointee from the private sector shall have a term of two years, which can be renewed for two more terms. The Executive Board may invite the secretaries of various government agencies as well as legitimate consumer and advocacy groups as resource persons during its meetings and deliberations. The institute shall support further education and training for its officers and employees to include advanced degree studies, short-term programs, online courses, and participation in conferences. Research papers, data, and other resources shall be made available to the public through its website. However, proprietary or confidential data and other resources cannot be posted or disclosed unless prior consent of the source or owner of such data and resources has been obtained by the requesting party. A Special Account in the General Fund (SAGP) for energy research, which shall be maintained and managed by the Bureau of Treasury, shall be established to support the research undertaken by the institute. The SAGF for energy research shall recognize and accept grants, contributions, and donations collected for energy research. A total of PHP200 million will be appropriated out of the General Appropriations Act (GAA) for the initial operating fund of the institute. Such amounts necessary for the sustainable operations of the institute shall be appropriated from the GAA based on the annual financial plan approved by the Executive Board and submitted to the Department of Budget and Management. Government agencies concerned are authorized to include in their respective annual budgets such necessary amounts as their contribution to the funding of certain research activities in the institute. Within 90 calendar days from the effectivity of the act, the UP, in consultation with the members of the academe, and other public and private stakeholders shall promulgate the necessary implementing rules and regulations of the act subject to the approval of the UP Board of Regents.
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Marcelle P. Villegas - November 24, 2022
Energy Transition for Oil, Gas and Coal Sectors
Most industries are dependent on fossil fuels to operate. However, in response to climate change, there is a global trend that encourages countries to join in the energy transition of using green technologies. While in theory, this strategy looks promising and feasible. However, in some countries, like in the Philippines, this is a major challenge. This was the scope of the roundtable discussion (RTD) last 4th of May 2022 during PH-EITI Conference with the Department of Finance and Department of Energy. The theme of the event was "Preparing the Extractives for Energy Transition".
Philippine Resources - November 15, 2022
Celsius obtains Social License to operate for the MCB Project
Photo credit: Celsius Resources Limited Celsius Resources Limited is pleased to announce that one of its Philippine subsidiaries, Makilala Mining Company, Inc. (“MMCI”) has obtained the consent of the Balatoc Indigenous Cultural Community (ICC) for the development of the Company’s MaalinaoCaigutan-Biyog (MCB) Copper-Gold Project (“MCB” or “the Project”). After a series of consultations and negotiations, a Memorandum of Agreement (MOA) between MMCI, the Balatoc ICC, and the National Commission on Indigenous Peoples (NCIP) was officially signed on 14 November 2022. The MOA represents the collective decision of the Balatoc ICC for MMCI to carry out exploration, development, production, and operation activities at the MCB Project area. It also outlines the commitments and obligations of all parties to the agreement as well as the economic, social, environmental, and cultural benefits of the Project to the Balatoc ICC during the life of the mine. Pasil Municipal Mayor Alfredo B. Malannag, Jr. was elated with the outcome and expressed: “This is a historical moment as it reflects the aspirations of the community for the future of the Balatoc Tribe. With MMCI at the forefront of development, our dreams of harnessing our natural resources without sacrificing our future and the environment will soon be realised. We have partnered with MMCI since their first exploration in the area in 2006 and the community has established a very good relationship with them.” Kalinga Provincial Governor James S. Edduba shared the same sentiment: “This is a happy occasion, and I am excited with the many possibilities that will happen to this community with the signing of the MOA. Growing up in the place, I can personally attest to life with and without a mining company. I was the Mayor of Pasil when Makilala Mining started their exploration. We have gone a long way and MMCI has been instrumental in the development of the community. I believe that this partnership will help develop the community further as this is such a big investment in terms of business and employment opportunities, overall progress and other benefits.” The Company considers obtaining the consent of the Balatoc ICC to be a crucial aspect for the development of the MCB Project, as it represents a social license to operate which is anchored on legitimacy, credibility, and trust. MMCI President Atty. Julito R. Sarmiento expressed: “The signing of the agreement signifies the commitment of the Company to do right by the Balatoc ICC. We have always ensured that we abide and respect the customary laws and traditions of the community in all aspects of our engagements, to demonstrate our strict adherence to Environmental, Social and Governance (ESG) principles and best practices consistent with our firm commitment to Transformative Mining.” Article courtesy of Celsius Resources
Philippine Resources - November 15, 2022
Apex Mining’s 3Q2022 RESULTS UP 277% YoY
Photo credit: Apex Mining Apex Mining Co., Inc. is enjoying the fruits of its continuous expansion program with both the 3Q2022 and 9mo2022 results at an all-time high. Production for the 3Q2022 stood at 26,962 oz for gold and 100,899 oz for silver. The volume was 35% and 15% higher, respectively, than previous year’s production. The Maco mine milled 209,585 tonnes, 14% higher YoY with daily mill throughput of 2,334 tpd with mill grades of 4.02 gpt for gold and 18.72 gpt for silver. In the 3 rd quarter, the foreign exchange rate averaged P56.62 vs P50.30 from 3Q2021 or an increase of 13%. The resulting gross revenues for the third quarter was P2.743 billion, an increase of 43.8% YoY. Consolidated net income for 3Q2022 amounted to P897.95 million vs net loss of P624.35 million for 3Q2021, a 244% increase YoY. During the 3Q2021, the Company recognized P1.1 Billion provision for impairment of property and equipment and deferred exploration costs of non-operational local and foreign subsidiaries of Monte Oro Resources & Energy, Inc, a wholly owned subsidiary of Apex. For the 9mo2022, total production was 73,219 oz gold and 291,333 oz silver or an increase of 36% and 12% respectively. Realized prices were $1,817/oz for gold and $21.62/oz for silver, a change of +2% and -13% respectively. Milling throughput for the Maco Mine Site was 601,730 tonnes or 2, 299 tpd for the 9mo2022, as compared to 514,008 tonnes or 2,017 tpd for the same period in 2021. The weighted average foreign exchange rate during the comparative period was P53.85 and P49.03 to one USD, a gap of 10%. The resulting gross revenues for the three quarters of 2022 was higher at P7.51 billion compared to the same period in 2021 at P4.99 billion. The net income (loss) for the three quarters of 2022 and 2021 was P2.46 billion and (P135.73) million. Net income grew 1,913% YoY. Disaster relief is among the cornerstones of Apex Mining’s corporate citizenship initiatives. As the third quarter was drawing to a close in September, typhoon Karding battered Luzon. In tandem with the Philippine Mine Safety and Environment Association (PMSEA), though Pusong Minero, Apex Mining’s president and CEO, Luis R. Sarmiento, ASEAN Eng., who is also the president of PMSEA, condoled with the families of the five Bulacan PDRRMO rescuers who perished while conducting rescue activities during the said tropical depression. At the Luksang Parangal of the Bulacan Provincial Advisory Group for Police Transformation and Development, the families of the late rescuers received cash assistance. Earlier, in August, the four classrooms built by the GMA Kapuso Foundation, in part through a P2M donation by the company, was turned over to the students and teachers of the Baybay Elementary School in the island of Siargao (Siargao, including Baybay Elementary School, was badly hit by typhoon Odette in December 2021). Apex Mining found itself displaying its unique brand of malaskit yet again as the final quarter of 2022 opened with typhoon Paeng wreaking havoc in regions 5, 6, 8, 12 and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Still under the Pusong Minero program of the PMSEA, the company, together with concerned local governments, immediately deployed much needed supplies like drinking water, sleeping mats and sacks of rice to select areas badly hit by Paeng. The distribution of sleeping mats is a joint effort with the province of Davao de Oro, where Apex Mining’s Maco Mine is located. Article courtesy of Apex Mining
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