SEMIRARA Mining and Power Corp. on Monday said it would be reducing its workforce because of low coal production and uncertainty over its coal operating contract with the government.
In a disclosure, the company said that it had filed a notice of redundancy with the Department of Labor and Employment (DOLE), which will affect 462 mine-site employees.
"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,” Semirara President and Chief Operating Officer Maria Cristina Gotianun said.
Semirara's existing coal operating contract is set to expire on July 14, 2027 and the government has said that it planned to auction it off this month or in September.
As of end July 2026, the company said that it had 4,045 employees, including more than 2,000 from its host communities.
Semirara said that it reduced its 2026 production target as part of the firm’s operational planning due to uncertainty of the coal mine auction.
The company also said that aside from separation benefits provided under labor law and company policy, its Employee Assistance Program would offer opportunities for redeployment within the DMCI Group, financial literacy training, skills retraining, livelihood support, relocation support, and job placement services in the mining and energy sectors to those who will be affected.
Semirara’s share price fell by 78 centavos to close at P19.22 apiece on Monday.
