Semirara lets go of over 400 employees

MANILA, Philippines — The “continued uncertainty” over the coal contract of Semirara Mining and Power Corp. (SMPC) has started hitting jobs, with the group now forced to let go of 462 employees.

In a statement on Monday, the Consunji-led group said it had filed a notice of redundancy with the Department of Labor and Employment after slashing its annual coal production target by more than one-third from 2025.

READ: DOE chief eyes keeping Semirara coal for domestic use

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SMPC said cutting its coal production target for 2026 was necessary as it adjusts its operations amid the looming coal mine bidding, which has been facing delays. Energy Secretary Sharon Garin earlier said the auction would be pursued in the third quarter.

The company, accounting for more than 90 percent of domestic coal production, has a coal contract with the government that is set to lapse in July 2027.

“We recognize the impact of this decision on our affected employees and their families, and we will do our best to support them through this transition,” said Maria Cristina Gotianun, SMPC president and COO.

A total of 462 mine-site employees are set to lose their jobs.

But SMPC said the affected employees may be redeployed to other units of the DMCI Group. Aside from separation benefits mandated by law, it will also offer financial literacy training, skills retraining, livelihood support, relocation support and job placement services in the mining and power sectors.

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The group said its workforce was composed of 4,045 people as of end-July, over 2,000 of whom were from its host communities.

Even as it faces the possibility of losing the contract, SMPC has been keeping its optimism about obtaining new coal operating deals given its solid experience in the market.

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READ: Semirara seeks court nod on keeping mine assets data

Last week, the firm reported that its earnings in the first half inched up by 2 percent to P8.58 billion, with its power business providing the biggest share amid weaker coal performance.

Its revenues in the period improved by 9 percent to P34.02 billion against the previous P31.33 billion, driven by stronger electricity and coal prices. INQ