SM Investments Corp. (SMIC) is preparing to exit the mining business, with plans to transfer its roughly 34-percent stake in listed Atlas Consolidated Mining and Development Corp. to another listed company within the group next year.
SMIC President and CEO Frederic DyBuncio said Wednesday the restructuring is part of the conglomerate’s broader effort to streamline its portfolio and sharpen its focus on core businesses.
“The intention for SMIC is to completely move out from the mining sector, and we want to move the shareholding we have in Atlas into another listed entity,” DyBuncio said.
He said the transfer is targeted for sometime next year, although the restructuring is not expected to be completed by 2027.
The planned transaction would allow SMIC to shed direct exposure to mining while keeping the economic value of its Atlas investment within the broader group. Moving the stake to another listed vehicle could also give the asset a more appropriate home within SMIC’s portfolio structure.
“We have around 34% stake in Atlas. We’re going to intend to move that to a listed entity, and that will happen probably sometime next year,” DyBuncio said.
The move comes as SMIC reviews capital allocation across its major businesses, including banking, property, retail, and infrastructure.
DyBuncio also indicated that cash flows or proceeds linked to the restructuring could support financial priorities such as debt repayment, rather than being deployed entirely into fresh investments.
The planned exit marks another step in SMIC’s portfolio reshaping, as the conglomerate seeks to concentrate capital and management attention on businesses where it sees stronger strategic fit and growth potential.
For investors, the move could simplify SMIC’s sprawling portfolio while providing a clearer view of where the group intends to deploy capital. It also signals that balance-sheet discipline and portfolio efficiency are becoming increasingly important as SMIC weighs its next phase of expansion.
