Monday, 8 June 2009

Philippines' Semirara scores a success, selling coal to Thailand

Paul Anthony A. Isla
Business Mirror
http://www.businessmirror.com.ph/home/regions/11303-semirara-scores-a-success-selling-coal-to-thailand.html

COAL producer Semirara Mining Corp. has successfully entered the Thailand market during the first quarter of the year, helped by its new trading partners.

The Philippine company, now in its third year of doing business in the international market, scored a success in gaining access to Thailand, a new market for Semirara.

Semirara said new partnerships in coal trading have been forged that helped it clinched the Thai market, adding that coal traders Noble Energy and Coal Pulse were instrumental in cultivating Thailand as a buyer of Philippine coal.

In a disclosure to the Philippine Stock Exchange, Semirara said coal exports remained robust in the three months to March, despite a two-percent decline in delive-ries compared to a year earlier.

It noted that coal exports dropped to 443,101 metric tons (MT) 453,670 MT during the same comparable period.

Also, Semirara noted that Holcim Cement as a buyer is a significant marketing breakthrough. Holcim is one of the county’s biggest cement companies.

Semirara said sales to cement plants dropped to 148,777 MT during the period from 232,125 MT, and sales to other power plants dropped by 62 percent to 77,421 MT from 138,381 MT.

Total sales volume for the coal producer fell 4 percent to 1,078,344 MT from 1,120.962 MT.

The company earlier bared plans to export 2.5 million MT of coal to India and Thailand this year.

Semirara has targeted coal production to reach 5 million MT this year, said its marketing manager Cesar Villanueva.

Villanueva added that half of its production target is for export buyers, the other half for the domestic market.

Semirara’s local customers include Global Power, Mindanao’s coal plant owned by STEAG State Power and Aboitiz Group, Asia Pacific Energy Corp.—majority-owned by Formosa Heavy Industries Corp. of Taiwan—as well as cement plants and other companies.

Based in Semirara Island, Caluya, Antique, Semirara is into mining and exploration, developing and selling coal resources.

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