MANILA -- Semirara Mining and Power Corporation said it made record shipments of 16.5 million metric tons (MT) of coal in 2024, higher than the 15.8 million it exported in 2023.

The company said this is because of more demand from China and even the domestic markets. Semirara said foreign shipments rose 4 percent to 8.4 million MT. Of these, 7.6 million MT were exports to China alone.

Meanwhile, in the Philippines, shipments also climbed by 4 percent to 8 million MT because of more sales to local cement producers and Calaca power plants. 

The firm said t20 percent of the 1.3 million MT sold to cement plants were sent to associate company Cemex Holdings Philippines Inc. (CHP). DMCI Holdings, Semirara Mining and Power Corporation and Dacon Corporation bought Cemex in December. The companies are part of the Consunji group.

“While we anticipate market prices to further normalize in 2025, we remain focused on strengthening our customer network and enhancing operational efficiencies," Semirara president  and chief operating officer Maria Cristina Gotianun said.

Semirara said its net income fell to P15.71 billion from January to September 2024--from P22.62 billion the year before--because of softer selling prices and higher cash and noncash costs.

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