The Court of Appeals (CA) has dismissed Bauer Foundations Philippines Inc.’s petition to claim more than P7 million from Semirara Mining and Power Corp. after asserting that the latter had reneged on their agreement. In a disclosure on Wednesday, the Consunji-led company said it received the CA’s June 26, 2020 decision denying the appeal of the subsidiary of Germany-based Bauer Spezialtiefbau GmbH. The mining firm added that it “does not expect the case to have any effect on its business or operations.” it added. The case stemmed from Semirara Mining tapping Bauer in the last quarter of 2012 to drill 122 holes at its minesite on Semirara Island in Antique province’s Caluya town and finish this on Jan. 30, 2013. But it said Bauer used only one rig when it was supposed to provide two. This prompted Semirara Mining to mobilize its own rig without prejudice to Bauer’s continued work and that on Jan. 18, 2014, the latter’s lone rig broke down. Two days later, Bauer pulled out its equipment and discontinued operations after completing only 87 holes. Semirara Mining shares tumbled by 4 centavos or 0.41 percent to close at P9.80 each on Wednesday.
