Business World reported that Semirara Mining Corporation has expects to sell more coal this year despite low prices with new equipment expected to increase the firm’s mining capacity.
Mr Isidro A Consunji vice chairman and CEO of Semirara Mining said that "We are looking between 3.8 million tonnes and 4 million tonnes this year in terms of volume. But in terms of price, we do not know because of soft prices today."
Mr Consunji said that last year, the Consunji-led miner sold 3.3 million tonnes of coal from Semirara Island in Antique, which has an estimated coal reserve of 150 million tonnes. Some 1.5 million tonnes would be exported to India, China and Hong Kong up from 1 million tonnes sold in 2008.
He said that in the Q1, Semirara Mining exported about 100,000 tonnes of coal. The company might sell up to 5 million tonnes of coal domestically and abroad next year.
Mr Consunji said that "Taiwan, Thailand and Malaysia are looking to buy from us there are more acceptances but it is not a good time for prices."
