DoE offers areas to investors
The DMCI Group and PNOC Exploration Corp. are among the 30 companies that have expressed interest in bidding for contracts to explore and develop coal blocks, which the government plans to offer under the Philippine Energy Contracting Round (PECR) by yearend.
Energy Undersecretary Jose M. Layug Jr. said in a briefing Monday that the interested companies include a number of foreign investors from Australia and Europe.
Layug said the PECR 4 for coal will be launched on December 1 this year.
Most of the coal blocks to be offered for exploration and development are in Mindanao, according to Layug, but not in the provinces that have issued bans on open pit mining.
According to Layug, the government is willing to help winning bidders secure permits from the host local governments.
He added that so far, the Department of Energy (DoE) has not met any resistance from the concerned local governments over the planned auction of the coal blocks.
The DoE earlier identified 12 prospective coal areas that could yield a total of 1.806 billion metric tons.
Luzon reportedly holds a total resource potential of 455.5 million MT (MMMT); Visayas, 766 MMMT; and Mindanao, 584.4 MMMT.
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By: Amy R. Remo
Source: Philippine Daily Inquirer, Nov. 14, 2011
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