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SMPC completes mine rehab of largest open pit in PH
by Philippine Resources - May 04, 2022
Photo: Panian Mine, Semirara Island. Credit: earthobservatory.nasa.gov
Integrated energy company Semirara Mining and Power Corporation (SMPC) has completed its backfilling operations in Panian, once the largest open-pit mine in the Philippines.
SMPC spent 11.5 million man-hours to fill the pit with over 452 million bank cubic meters (bcm) of earth material, which is enough to fill 217,000 Olympic-size swimming pools.
“We are mindful of our twin role as stewards and government contractor. What we accomplished in Panian is proof of that,” said SMPC president and COO Maria Cristina C. Gotianun.
Located in Semirara Island, Panian mine spans 400 hectares with topographic elevations that ranged from 300 meters below sea level (mbsl) to 30 meters above sea level (masl) during its mine life. 300 meters is roughly the height of a 90-story building.
SMPC fully covered the pit in six years, way ahead of the original 10-year mine rehabilitation plan. Mine rehabilitation refers to the repair of land that was disturbed by mining activities.
The company is now developing a science-based plan to reforest and restore the biodiversity in the area.
Panian had a mine life of 16 years and generated P12.7 billion in royalties for the government and SMPC host communities.
Of the total amount, P7.6 billion went to the national government while the Municipality of Caluya and Brgy. Semirara received P2.3 billion and P1.8 billion, respectively. P1 billion went to the Province of Antique.
In September 2021, SMPC won in the ASEAN Energy Awards (Special Submission category) for its accelerated rehabilitation of South Panian pit, which is considered as the fastest of its kind and scale in the Philippines.
SMPC completely filled North Panian with earth material last January, four months ahead of its committed date to the Department of Energy.
Article courtesy of the Philippine Stock Exchange
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Philippine Resources - March 17, 2022
Semirara Mining and Power Corp earns P16.2b net income in 2021, highest in its 41-year history
Photo: Integrated energy company Semirara Mining and Power Corporation (SMPC) ended 2021 with a net income of P16.2 billion, the highest in its 41-year history. The 393-percent leap from P3.3 billion the previous year was mainly attributable to an 8- percent rise in coal production, 16-percent jump in coal shipments and 71-percent surge in average coal selling prices. “Our results reflect the hard work of our people. They rose to the challenges of the pandemic and delivered exceptional value to our stakeholders,” said SMPC president and COO Maria Cristina C. Gotianun. Contributions from the coal segment grew by 535 percent from P1.8 billion to P11.4 billion while both power subsidiaries delivered improved performances. Sem-Calaca Power Corporation contributed P3.3 billion, a 154-percent upturn from P1.3 billion the previous year. Meanwhile, Southwest Luzon Power Generation Company recorded a 1,563-percent rise in contributions from P87 million to P1.4 billion. For the fourth quarter alone, SMPC saw its net income expand by nearly twenty times from P297 million to P5.9 billion, its highest profit level for any given quarter. Average selling prices from October to December rallied by 229 percent from P1,354 to P4,452 as global supply disruptions and accelerated demand from China, India and Europe pushed index prices to record levels. Elevated coal prices offset the impact of lower shipments, which was nearly halved (46%) from 4.6 million metric tons (MMT) to 2.5 MMT owing to weather-induced coal production drops in the third quarter. Article courtesy of the Philippine Stock Exchange
Philippine Resources - May 31, 2022
Semirara Mining and Power Corp remits record P5.9B royalty in Q1; up 807% YoY
Photo credit: Bilyonaryo Integrated energy company Semirara Mining and Power Corporation (SMPC) recently remitted P5.9 billion in government royalty to the Department of Energy (DOE), the highest in its corporate history. The first-quarter remittance is an 807-percent upsurge from the P656 million that SMPC paid during the same period last year. All-time high coal shipments and average selling prices account for the record-setting government share. “We had an exceptionally strong start, so much so that in three months, we surpassed our previous full-year royalty payments,” said SMPC president and COO Maria Cristina C. Gotianun. In 2021, SMPC paid a total of P5.4 billion to DOE as improved coal output and favorable market conditions allowed the company to ship more coal at elevated prices. Of the P5.9 billion remitted by SMPC, more than P3.5 billion will be retained by the national government. In accordance with the law, the rest will go to the host local government units of the SMPC mine site. The province of Antique will receive P476 million while the municipality of Caluya and Barangay Semirara will receive around P1.1 billion and P833 million, respectively. The Local Government Code of 1991 entitles local government units to a 40 percent share of royalty proceeds from petroleum, coal, geothermal, hydrothermal and wind resources. SMPC is the only vertically-integrated power generator in the country that produces its own fuel. As the largest domestic coal producer, it supplies affordable fuel to power plants, cement factories and other industrial facilities across the Philippines. Article courtesy of the Philippine Stock Exchange
Philippine Resources - July 20, 2022
SMPC bags four awards in SEA investor poll; among the eight best-managed companies in PH
Photo Integrated energy company Semirara Mining and Power Corporation (SMPC) won four awards in the 12th Institutional Investor Corporate Awards 2022 of Hong Kong-based Alpha Southeast Asia magazine. Based on a poll of over 500 investors and analysts across Southeast Asia, as well as United States and Europe, SMPC emerged as one of the eight best-managed companies in the Philippines for having the Most Organized Investor Relations (3rd place), Best Senior Management Investor Relations Support (2nd place), Most Consistent Dividend Policy (3rd place) and Most Improved Investor Relations (sole winner). “We thank all those who voted for our company. These awards reflect and reaffirm our strong commitment to the investment community and investing public,” said SMPC President and COO Maria Cristina C. Gotianun. The poll included fund managers with investment interests in Southeast Asia, large institutional investors, insurance companies, pension funds, funds of hedge funds, private banks, equity and fixed income brokers as well as buy and sell-side analysts. According to Alpha Southeast Asia, 43 publicly-listed companies from across the region were ranked this year, representing the crème-de-la crème of best practices whether it be on corporate governance, investor relations, disclosure, transparency, financial management, integrated reporting, CSR and/or dividend policy. Alpha Southeast Asia is a monthly magazine primarily written for institutional investors, asset and fund management companies in Hong Kong, Singapore, other parts of Asia, US, Europe and the Middle East. As the first and only poll focused on Southeast Asia, the corporate-institutional investor poll is the leading perceptions-based poll in performance in financial management, adherence to corporate governance, integrated reporting/ corporate social responsibility and investor relations. Article courtesy of the Philippine Stock Exchange
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Philippine Resources - September 27, 2022
PH-EITI holds first meeting under Marcos admin, approves plan to improve multi-stakeholder engagement in the extractives
Photo credit: PH-EITI The Philippine Extractive Industries Transparency Initiative (PH-EITI) convened its first Multi-Stakeholder Group (MSG) meeting under the Marcos administration on Friday (September 16), two weeks after the country reaffirmed its commitment to implement the EITI. EITI is the global standard for transparency and accountability in the oil, gas, and mining sectors. The MSG – the body that governs EITI implementation in the country – is chaired by the Department of Finance (DOF) and composed of representatives from government, industry, and civil society. The government began implementing the EITI in 2013 pursuant to Section 14 of Executive Order No. 79, s. 2012 and Executive Order No. 147, s. 2013 that created the PH-EITI. “This meeting demonstrates the government’s continuing commitment to improve transparency and accountability in the extractive industries,” said Finance Undersecretary and PH-EITI Focal Person and Chair Cielo Magno. To improve resource governance, the MSG agreed to strengthen spaces for multi-stakeholder participation and advocate for more spaces along the extractive industry value chain. The group also agreed to include an MSG report on the status of civic engagement in the annual country report. The MSG also discussed remaining initiatives for 2022, including the production of the FY 2021 PH-EITI Country Report, the 2022 National Conference, and a planned visit of EITI Chair and former New Zealand Prime Minister Helen Clark to the Philippines in November 2022. The PH-EITI publishes independently reconciled data on oil, gas, coal, and mineral resources through an annual and comprehensive country report. To date, the PH-EITI has produced seven country reports, reconciling over P362.5 billion in government revenues from extractive projects from 2012 to 2019. Aside from disclosing extractives data to inform research and policy recommendations, the PH-EITI also provides space for multi-stakeholder participation in resource governance. Article courtesy of the Department of Finance
Philippine Resources - September 27, 2022
Marcos admin commits to transparency and good governance in the extractive industries
Photo credit: EITI / CC BY-SA The Marcos administration demonstrated its commitment to pursue transparency in natural resource governance by rejoining the Extractive Industries Transparency Initiative (EITI) and enabling the continued development of the mining sector. In a letter to EITI Chair and former New Zealand Prime Minister Helen Clark, Finance Secretary Benjamin Diokno cited the value of good governance and anti-corruption measures in maximizing the extractive sector’s contribution to resource mobilization and sustainable economic growth. EITI will complement the administration’s agenda on transparency and accountability. “We welcome the opportunity to re-engage in EITI. We also commend the progress of the EITI Board in reviewing the validation standard and making it more relevant to implementing countries. We believe that EITI is an important tool for resource-rich countries like the Philippines to improve transparency and increase accountability in the management and governance of the extractive industries,” said Secretary Diokno. Secretary Diokno said that other government agencies, as well as industry and civil society stakeholders who have been actively implementing EITI in the country, are supportive of the move to rejoin the global initiative. On June 20, 2022, the Philippines through the Department of Finance (DOF) withdrew its participation in the EITI over concerns on metrics and procedures used for assessing country compliance with the international organization’s transparency requirements. In an August 23, 2022 letter, EITI Chair Helen Clark invited Secretary Diokno to re-state the country’s commitment to the EITI on behalf of the Marcos administration and build on the progress that the Philippines has achieved in the past nine years. The PH-EITI multi-stakeholder group is chaired by the DOF and is composed of representatives from government, industry, and civil society. The government began implementing the EITI in 2013 pursuant to Section 14 of Executive Order No. 79, s. 2012 and Executive Order No. 147, s. 2013 that created the Philippine EITI (PH-EITI). Annual disclosure of contracts, financial, economic, social and environmental data is mandatory for extractive industries pursuant to the Department of Environment and Natural Resources (DENR) Department Administrative Order (DAO) No. 2017-07. To date, the PH-EITI has produced seven country reports, covering data from mining, oil, gas, and coal industries and reconciling over P362.5 billion in government revenues from extractive projects from 2012 to 2019. In 2017, the Philippines was recognized by the EITI as the first among 50 plus countries in the world to have fully complied with the 2016 EITI Standard. The EITI updates its standard every three years and subjects member countries to validation to ascertain their compliance. Secretary Diokno said that the Marcos administration is committed to engage and unite various stakeholders in pursuing good governance and policy reforms in the country. “Rest assured that we remain committed to pursuing good governance in the extractive sector,” said Secretary Diokno. Article courtesy of the Department of Finance
Philippine Resources - September 26, 2022
Metro Manila Subway project nominated for int’l digital awards
Artist rendering of the Metro Manila Subway (Photo courtesy of DOTr) The Metro Manila Subway Project (MMSP) has been named as one of the finalists at the 2022 Going Digital Awards in Infrastructure for the best use of infrastructure software to save both time and money. The Department of Transportation (DOTr) said the general consultant for the MMSP Phase 1, the Japanese consortium Oriental Consultants Global (OC Global), developed a common digital engineering system and a “single source of truth” using ProjectWise and ComplyPro -- both programs by Bentley Software Inc. The MMSP, the DOTr said, presented communication and coordination challenges that other software programs failed to address. “The project team at OC Global realized that the implementation of collaborative BIM workflows, proactive risk management, and cost monitoring would require a connected data environment to be established,” it said. The system developed by OC Global for the MMSP enabled real-time data sharing that optimized collaboration -- saving an estimated 5,000 resource hours within the project’s first six months. “Combined with SYNCHRO for construction simulation, Bentley’s integrated technology solution identified and resolved 50 clashes, eliminating rework, shortening the project schedule, and saving costs. The successful BIM (Building Information Modeling) implementation has already achieved a return of investment of over USD600,000,” it said. The Going Digital Awards in Infrastructure is an annual event meant to honor Bentley software users for advancing infrastructure design, construction, and operations worldwide. The event’s finalists are deemed to demonstrate “excellence and digital advancements” in their respective award categories. The award winners will be announced during the program’s main event in London on Nov. 15. By Raymond Carl Dela Cruz Article courtesy of the Philippine News Agency
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