Semirara sees better earnings in H2

Consunji-led Semirara Mining and Power Corp.(SMPC) is poised for a financial uplift in the second half of the year amid stable coal prices and a revitalized energy business.

- BRIX LELIS

"We're looking at a better income, better than the first half of this year," SMPC president and COO Maria Cristina Gotianun said.

With coal prices stabilizing, she noted that the mining business is expected to be the driving force behind the Semirara Group's improved bottomline in the remaining months of 2024.

The Consunji Group's integrated energy arm is also banking on the successful overhaul of its power plant that is now running at a capacity of 300 megawatts (MW).

"The genset (generator set) in Unit 2 is okay; Toshiba has rewound it," the executive said, noting that the rehabilitation took about 80 days.