Semirara Mining Corporation Attains BOI Registration

On 26 September 2008, the Company successfully registered with the Board of Investments as expanding producer of coal, as included in the Investments Priorities Plan of 2007, and in accordance with the provisions of the Omnibus Investments Code of 1997. One of the incentives of a BOI-registered enterprise is an Income Tax Holiday (ITH) for the registered activity. In the case of the Company, registered activity is the expanded capacity with base figure of 2,710,091 MTs. Sales volume beyond this base figure is entitled to an ITH for six years from date of registration.