Semirara, DMCI shares drop amid non-renewal of coal contract

MANILA, Philippines – Consunji-led Semirara Mining and Power Corp.(SMPC) and DMCI Holdings Inc. suffered a significant share price drop on Monday after the government rejected the group’s plea to extend its coal mine contract for 13 more years. Stock data showed that as of 1:20 p.m., SMPC’s share price dove by 21.23 percent to 26.15