LISTED integrated energy firm Semirara Mining and Power Corp. said on Friday it spent P3.5 billion on its mining equipment capital expenditures during the first six months of the year, as part of its mine expansion and fleet modernization program.
In a disclosure to the Philippine Stock Exchange, Semirara said equipment purchased include 46 dump trucks, six hydraulic excavators and other support machinery, with delivery of 21 more heavy equipment expected by the end of the year.
“The new dump trucks and hydraulic excavators are designed to be more fuel efficient so they will contribute to the reduction of our carbon footprint and operating costs,” said Semirara President and Chief Operating Officer Victor Consunji.
Consunji said this was only the beginning of their fleet modernization program as they intend to continue decommissioning old equipment and replacing them with new ones next year.
Semirara seeks to bolster its coal production to 16 million metric tons in the next two or three years, in line with the Philippine government’s drive for power stability, optimal energy pricing, and improved infrastructure.
Incorporated in 1980, Semirara is the sole power producer in the country which owns and mines its own fuel source—coal—allowing it to generate affordable baseload power for the Luzon and Visayas grids.