SMPC Official Statement/Disclosure to SEC/PSE - Panian Mine Accident on July 17, 2015

OFFICIAL STATEMENT

As of today, July 20, 2015, seven of the nine fatalities in the July 17 accident have been recovered. Our 24/7 search and retrieval operations continue.

We have been cooperating fully with government authorities investigating the accident. Officials from the Department of Energy conducted an initial investigation last Saturday and are expected to make a follow-up tomorrow, Tuesday.

The needs of the families of the victims remain our priority. We have sought the assistance of religious nuns and professional counsellors to help the bereaved cope with their loss.

We are facilitating the life and accident insurance claims of the victims. On top of the immediate release of additional funds to cover their transportation costs and other incidental expenses, we are providing P1 million to each of the nine grieving families.

Moving forward, we will shoulder all the education expenses all the way to college of the children of the victims. If they are already of employment age, we are prepared to provide them with jobs.

We will begin flying the victims’ immediate family to Semirara Island tomorrow. Two of the bodies will be flown to their hometowns within the next 48 hours. We will shoulder all the funeral expenses.

Should the surviving families decide to stay in Semirara Island, we will provide them with free permanent housing in the area. Otherwise, we will provide them with housing assistance elsewhere.

We continue to pray for the families as they go through this difficult time. We are committed to providing them with the support they need to rebuild their lives.

July 20 Update

By way of update from our disclosure dated July 17, 2015, please be informed that on July 18, 2015, the DOE’s Investigating Committee arrived at the mine site in Semirara Island, Caluya, Antique to investigate the cause of the accident.

As of yesterday, July 19, 2015, 6 out of the 9 mine personnel have been recovered.  Search and Retrieval operation continues for the remaining missing personnel.

We will update the Commission and the Exchange of further development.

Thank you.

July 17 Official Statement/Disclosure to SEC/PSE

At around 3:45 a.m. of July 17, 2015, a portion of the northern edge of Panian mine gave way. Three bodies have been recovered and six are still missing.

Management has condoled with the families of the victims and is giving them full support.

It is also coordinating with national and local authorities to keep them updated on the search and rescue efforts and other necessary measures including ensuring the adequate supply of coal for power generation since it has stopped operations in the affected area in compliance with an order from the Department of Energy.

The company is investigating the cause of the accident in coordination with authorities. 

Advisories will be issued regularly to keep the public informed.