LISTED Semirara Mining and Power Corp. (SMPC) announced Friday it spent P3.5 billion for the delivery of mining equipment during the first semester.
The equipment includes 46 dump trucks, six hydraulic excavators, and other support machinery covered under the coal firm’s mine expansion and fleet modernization program.
It is expecting 21 more pieces of heavy equipment to arrive by year-end.
The firm noted that the Japan-based equipment supplier said that with the new dump trucks, fuel consumption may be reduced by as much as 14% compared with older models.
Fuel expenses account for 40% to 45%f the local coal firm’s mining costs.
“This is just the start of our fleet modernization program. We plan to continue this next year by decommissioning our aging heavy equipment and replacing them with newer models,” said SMPC President and Chief Operating Officer Victor A. Consunji in the statement.
“Our goal is to improve our operational efficiency and environmental performance,” he added.
Shares in SMPC rose 0.36% on Friday at P167.5 apiece. — Janina C. Lim
