SM Investments Corp. (SMIC), the listed conglomerate of the Sy Family, is weighing a strategic exit from Atlas Consolidated Mining & Development Corp. as it shifts focus to its core, synergistic businesses.
“Atlas Mining is an outlier because all the other businesses have synergy with the entire group. The mining business is more or less mentioned outside the area,” SMIC President and CEO Frederic C. DyBuncio said during a media briefing on Monday.
“That’s probably going to be the direction which we’ll be taking,” he added, signaling a potential sale of SMIC’s more than 30 percent stake.
DyBuncio, who also serves as Atlas Mining vice chairman, said the company is focusing on its renewable energy business, even as the board deliberates whether to carve out Atlas Mining entirely.
Despite its outlier status, Atlas Mining has started mine stripping operations to unlock more resources, a process expected to continue until mid-2026.
“After that, we’ll be able to get several more sources, and given the price of copper and gold, it looks like Atlas will have a very good year this year as well,” DyBuncio said.