Study confirms Coal Asia’s Davao deposits
By Doris C. DumlaoCoal mining firm Coal Asia Holdings Inc. has secured a third-party validation that the group’s coal deposits in Davao Oriental were economically and technically viable to extract.
Coal mining firm Coal Asia Holdings Inc. has secured a third-party validation that the group’s coal deposits in Davao Oriental were economically and technically viable to extract.
Energy consumption by China, the world’s leading emitter of C02, rose 3.9 percent in 2012 from the previous year but fell by 3.6 percent per unit of gross domestic product, the government said.
Semirara Mining Corp., the only large-scale coal producer in the country, sources coal mainly at its Panian mine on Semirara Island in Caluya, Antique.
Coal Asia Holdings Inc. has unveiled plans to fast-track the commercial coal production of flagship subsidiary Titan Mining and Energy Corp. (TMEC) to October this year from the previously targeted date of January 2014.
A wholly owned subsidiary of Philex Petroleum Corp. has suspended its coal operations to review the viability of the business and its prospects in view of the “unexpected change in market conditions.”
State-run Power Sector Assets and Liabilities Management Corp. is seeking offers for the supply and delivery of P119.5 million worth of local coal to be used for the 146-megawatt Naga power complex in Cebu.
Shares of Coal Asia Holdings soared by 50 percent in the company’s stock market debut on Tuesday on optimism over its vast coal reserves alongside prospective diversification into power-generation and gas-exploration businesses.
PNOC Exploration Corp., the upstream oil and exploration arm of state-run Philippine National Oil Co., is planning to resume its large-scale coal trading by 2013 to shore up its revenues and its contribution to the national coffer.
“Not the interest of anyone!” Those were the words of Senate President Juan Ponce Enrile, the 88-year-old JPE, commenting on the attacks in media against the Senate version of the “sin” tax bill—the attacks from the Aquino (Part II) administration and supporters of the bill.
The state-run Philippine National Oil Co.-Exploration Corp. (PNOC-EC) registered losses of more than P122.4 million in an allegedly anomalous importation of almost 70,000 metric tons of Indonesian coal in 2009, according to an internal audit conducted by the energy firm.
Semirara Mining Corp., the country’s biggest coal producer, posted a 20.6-percent drop in income to P3.63 billion in the first half of 2012 from P4.58 billion a year ago. This was due to the decline in its coal and power revenues.
The name “Coal Asia Holdings,” to many of us for now, may very well read as “supercalifragilisticexpialidocious,” but it is a name worth remembering a few months from now—particularly to those watching the stock market.
