Philippine mining company, Semirara Mining Corp. will export 2.5 million metric tons (MT) out of a total output of five million MT of coal this year, shipping half of the export volume to India and Thailand.
Semirara marketing chief Cesar Villanueva said his firm had started with an export of 50,000 MT of coal last week. There will be another 50,000 MT of coal for export this week alongside a shipment of 50,000 MT to India.
He said the remaining production would be sold to the domestic market.
"Last year our production was three million MT and for this year we are looking at 4.5 million MT to five million MT," Mr. Villanueva said.
Semirara’s local customers include power plants as well as cement firms like Holcim.
Mr. Villanueva said Semirara Mining is expecting the price of its coal to go down this year along with the drop in international prices.
"We expect it to drop by as much as 30%," the company official said.
Semirara is a subsidiary of DMCI Mining Corp. It is the only large-scale coal producer in the Philippines, mining thermal coal from its Panian mine on Semirara Island, in Antique province.
Semirara Island covers an area of 55 square kilometers (km) and is located 350 km south of Manila.
SourcE: Business World, Manila
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