Semirara Mining profit drops down to P9.6B

SEMIRARA Mining and Power Corp. on Monday reported a 20-percent decline in its consolidated total comprehensive income to P9.6 billion in 2019 from P12.1 billion last year.

In a disclosure, the Consunji-led company said production of its coal segment posted a record a record high production of 15.2 million metric tons (MT), up by 17 percent against 12.9 million MT, caused by “a combination of higher capacities and good weather condition in the current year.”