Semirara Mining Corporation (SCC) was incorporated on February 26, 1980 to explore, develop, and mine the coal resources in Semirara Island located in Caluya, Antique. The company executed a coal operating contract with the Department of Energy in 1977 (amended 1981) for the exploration, development, mining and utilization of coal in Semirara Island, which has an estimated coal reserve of 150 million metric tons. SCC generates majority of its revenues through the production of subbituminous coal, with additional revenues coming from coal handling services at the Calaca Power Plants of the National Power Corporation. Source: SEC Form 17-A (2008)