Semirara Mining and Power Corp. is postponing its capital spending worth P3.7 billion until next year as the coronavirus disease 2019 (Covid-19) pandemic continues to disrupt economic activities, affecting companies here and abroad.
“Consistent with our disciplined and prudent approach to managing our company, we are rescheduling [the] P3.7 billion worth of capex (capital expenditures) to 2021,” Semirara Mining Chairman and Chief Executive Officer Isidro Consunji said during the listed firm’s virtual annual stockholders meeting.
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