BIZ BUZZ: SMIC mining exit happening by 2027

SM Investments Corp. (SMIC) is looking to completely exit the mining sector by next year, with plans to transfer its stake in Atlas Consolidated Mining and Development Corp. to another listed company within the Sy family’s portfolio.

SMIC president and CEO Frederic DyBuncio said the conglomerate intends to move its roughly 34-percent stake in Atlas to Dominion Holdings Inc.

“The intention for SMIC is to completely move out from the mining sector,” DyBuncio said in a briefing. “We want to move the shareholding we have in Atlas into another listed entity, which is still belonging to the family.”

Asked whether the restructuring would likely be completed by 2027, DyBuncio said: “Most likely so.”

This means Atlas will remain part of SMIC’s portfolio—and continue contributing to its results—for the remainder of 2026.

The planned transfer comes as Atlas’ performance improves. In the first half, SMIC said its portfolio investments had delivered stronger results partly due to Atlas’ turnaround, as it benefited from higher copper prices.

The mining company was among the businesses that helped SMIC grow consolidated net income by 8 percent to P45.9 billion in the first six months of the year.

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