Semirara's Bobog mine project gets BOI incentives


Posted at Sep 21 2012 12:30 PM | Updated as of Sep 21 2012 09:00 PM

MANILA, Philippines - Consunji-led Semirara Mining Corp. will receive incentives from the Board of Investments, after its Bobog mine was registered as a new coal producer. 

In a disclosure to the stock exchange, Semirara said the company has been registered as a "new producer of coal" under the Omnibus Investments Code of 1987.  

As a result, Semirara will enjoy income tax holiday, including all fiscal and non-fiscal incentives for the project. 

Located in Antique, Bobog mine has been found to have "sizeable resources with coal quality that is marketable locally." 

Semirara cited a technical report dated September 10, showing the resource estimate at Bobog mine is at 27.5 million metric tons of measured coal and 9 million metric tons of indicated coal.

Semirara is the country's the largest producer of sub-bituminous coal. The company started exploring for coal in the Bobog area in 2008.