The Philippines’ sole large-scale commercial coal mining firm Semirara Mining and Power (SMPC) is eyeing a further diversification of its export destinations this year as a way to buffer itself from volatility in the international market.
One market the company is aggressively expanding into is South Korea.
Coal sales to South Korea reached over 300,000t in the first quarter of 2022, accounting for 10pc of SMPC’s export sales for the period. In contrast, sales to South Korea over the whole of 2021 reached only 282,000t, or 3pc of SMPC’s sales for the year.
