Semirara Mining and Power Corp., a listed integrated energy company, said Friday it achieved a record-breaking coal sales volume of 15.8 million metric tons in 2023, a 6 percent increase from the previous year on the back of strong export.
It said export sales rose 13 percent year-on-year to 8.1 million tons, making up for domestic sales that stayed flat at 7.7 million tons.
“Our sales performance aligns with our 2023 target of 15 to 16 million metric tons. It also reflects our team’s relentless effort and commitment to deliver stable fuel supply amidst the challenging dynamics of the global market,” said SMPC president and chief operating officer Maria Cristina Gotianun.
The bulk of SMPC’s coal exports went to China at 65 percent. Coal shipments to South Korea total 27 percent, Brunei accounted for 4 percent while the balance were shipped to Japan, India, and Vietnam.
China shipments recovered by 31 percent to 5.2 million tons due to heavy stockpiling, consumption recovery and lower hydropower generation.
Demand from South Korea was steady year-on-year at 2.2 million tons while Brunei sales nearly tripled to 306,800 tons.
Gotianun said that for 2024, the “goal is to ship at least 15 million metric tons of Semirara coal, focusing on the domestic market. This aligns with our commitment to national energy security,” she added.
Meantime, SMPC was reclassified just last week by the Philippine Stock Exchange and moved to the industrial sector from mining after a review of the company’s revenue sources and business operations.
