The Energy Department temporarily suspended the cease-and-desist order against the coal trading operations of Semirara Mining and Power Corp. for 30 days to prevent a disruption of the company’s operations.
SMPC disclosed to the Philippine Stock Exchange on Tuesday it earlier asked the department to hold in abeyance the implementation of a June 4, 2019 order pending resolution of an alleged violation and “in order not to interrupt SMPC’s ongoing coal trading activities and operations” and renege on its contractual commitments.
The department ordered SMPC to clarify claims of illegal coal trading operations in Pulupandan Port, Pulupandan, Negros Occidental and cease and desist operations there until further notice by the regulator.
SMPC said it received on Monday a letter from the DoE dated July 12, 2019 granting its request to hold in abeyance the implementation of the June 4 order.
The DoE said SMPC could continue coal trading activities only on existing coal supply contracts and should not enter into new supply deals.