Semirara Mining and Power Corporation (SMPC), a company that mines coal and produces electricity in the Philippines, announced on August 10, 2026, that it will be letting go of 462 workers from its mining operations. Think of it like when a school has fewer students and needs fewer teachers – the company is producing less coal, so it needs fewer workers.
Why Is This Happening?
According to the disclosure filed with the Securities and Exchange Commission (SEC), SMPC has reduced its coal production target for 2026 by more than one-third compared to last year. Imagine if you planned to bake 30 cookies but now you’re only making 20 – that’s the kind of cut we’re talking about.
The main reason for this big change is something called “uncertainty surrounding the coal mine auction.” Here’s what that means: SMPC has a special permission (called a COC or Certificate of Coal Operating Contract) to mine coal, and this permission will expire on July 14, 2027. The Department of Energy (DOE) is planning to hold an auction – like a bidding game – between August and September to decide who gets to mine coal in the future. Because SMPC doesn’t know if they’ll win this auction, they’re being careful and planning to produce less coal.
What About the Workers?
The company filed a “notice of redundancy” with the Department of Labor and Employment (DOLE). This is an official way of saying they have more workers than they need for the smaller amount of work they’ll be doing.
Maria Cristina C. Gotianun, who is SMPC’s President and Chief Operating Officer (the person who runs the daily operations), said: “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.”
Help for Affected Workers
SMPC isn’t just letting these 462 workers go empty-handed. The company is providing:
- Separation benefits (money given when leaving the company) as required by law and company rules
- Chances to work at other companies in the DMCI Group (SMPC’s parent company family)
- Training on how to manage money better
- Skills retraining to learn new jobs
- Help starting their own small businesses
- Support if they need to move
- Help finding new jobs in mining and energy companies
About SMPC’s Workforce
As of the end of July 2026, SMPC had 4,045 employees in total. More than 2,000 of these workers come from the communities near where the company operates – meaning the company hires people who live nearby. The 462 workers being let go are specifically from the mine site.
About Semirara Mining and Power Corporation
SMPC is a publicly listed company on the Philippine Stock Exchange with the stock symbol SMPC. The company is registered with SEC Identification Number 0000091447 and has 4,250,547,620 common shares outstanding. It operates from its office at the 2nd Floor of DMCI Plaza in Makati City and is part of the DMCI Holdings group of companies.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
