SM Investments Corp. (SMIC) is considering selling its 30 percent stake in Atlas Consolidated Mining and Development Corp., marking a possible exit from the mining sector.
SMIC president and CEO Frederic C. DyBuncio said the planned divestment is being discussed at the board level and could happen in the near future.
DyBuncio said mining has been an “outlier” in SMIC’s portfolio, as most of the group’s businesses complement each other. In contrast, mining does not offer the same synergies with SMIC’s core operations in retail, banking, and property.
The Sy family entered Atlas in 2011 as part of SMIC’s early portfolio expansion. However, the company is now focusing on faster growth in renewable energy and logistics, which are seen as better aligned with the group’s long-term strategy.
DyBuncio noted that mining is a highly cyclical business, with commodity prices moving in response to changes in the US dollar and global demand. He said current strong prices for copper—driven by demand from electric vehicles—and high gold prices make it a potentially good time to sell.
Atlas shares closed at P9.32 on Monday.
If completed, the move would signal SMIC’s continued shift toward businesses that offer stronger integration across its portfolio and more stable growth prospects.
