C04358-2023

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jun 1, 2023
2. SEC Identification Number
0000091447
3. BIR Tax Identification No.
000190324000
4. Exact name of issuer as specified in its charter
SEMIRARA MINING AND POWER CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
2/F DMCI Plaza, 2281 Don Chino Roces Avenue, Makati City Postal Code 1231
8. Issuer's telephone number, including area code
632-88883000
9. Former name or former address, if changed since last report
-
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 4,250,547,620
11. Indicate the item numbers reported herein
9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Semirara Mining and Power CorporationSCC

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

SMPC eyes Japanese market expansion
Background/Description of the Disclosure

PRESS RELEASE

SMPC eyes Japanese market expansion

Integrated energy company Semirara Mining and Power Corporation (SMPC) is set to make its second trial shipment to Japan this June, in a bid to reduce its dependency on the Chinese market.

The company will export 50,000 metric tons (MT) of Semirara coal to Shikoku Electric Power Corporation for its 700-megawatt coal fired ultra-supercritical power station.

“China is still our main foreign buyer but with their industrial output growing slower than expected, we want to develop other Asian markets like Japan,” said SMPC president and COO Maria Cristina C. Gotianun.

From January to March, Semirara coal shipments to China plunged by 50 percent from 2.2 million MT to 1.1 million MT, accounting for 72 percent of exports.

South Korea was a steady market at 300,000 MT, representing one-fifth of export sales. The rest of the exports went to Japan (5%) and Brunei (3%).

SMPC first made a trial shipment to Japan in January 2023, selling 78,410 MT of mid-grade coal to J-Power, a utility company that operates coal, hydroelectric, wind and geothermal power stations.

“For 2023, we are targeting to export around 30 percent of our full-year sales target of 15 to 16 million MT,” added Gotianun.

In the first quarter, standalone coal revenues sank by 40 percent from P25.7 billion to P15.5 billion mainly due to high base effect of record production, shipments and selling prices.

Standalone reported net income slumped by 51 percent from P14.2 billion to P7 billion on topline weakness and slower decline in cash costs.

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Other Relevant Information

In accordance with SEC Notice issued on March 17, 2020, attached herewith is SEC Form 17-C for your immediate reference.
Filed on behalf by:
Name John Sadullo
Designation Vice President - Legal and Corporate Secretary