Semirara pays govt P1.7B in royalties

LISTED Semirara Mining and Power Corp. (SMPC) remitted P1.69 billion in royalty payments to the government in the first six months of the year, nearly triple the P575 million that the company remitted to the Department of Energy (DOE) in the same period last year.

The integrated energy firm told the Philippine Stock Exchange (PSE) that its growing production and expanding operations spurred the surge in its royalty payments to the government this year.