Dominion Holdings (PSE:DLFI) is set to house major mining assets of the Philippines’ prominent Sy family, positioning the entity to become the country’s largest mining firm.
The move follows confirmation from Dominion President Frederic DyBuncio, who confirmed that plans are underway to transfer SM Investments’ (PSE:SM) (SMIC) 34% stake in Atlas Consolidated Mining & Development (PSE:ATAT) to Dominion, along with the Sy family’s controlling interest in the Tampakan Copper-Gold Project in South Cotabato.
At a media briefing held in August, DyBuncio said “We’re working on it” regarding the transfer. When asked, he remarked that Dominion “can be” the country’s biggest miner once consolidated.
Dominion acquired a 20.43% stake in Atlas Mining from Anglo Philippine Holdings (PSE:APO), marking its initial entry into physical mining assets. SM Investments reportedly plans to sell its remaining 34% Atlas stake to a listed entity that will bring it under Dominion during 2027 as part of a broader exit from direct mining operations.
“The intention is for SMIC to completely move out from the mining sector,” DyBuncio shared.
The Tampakan Project, considered Southeast Asia’s largest undeveloped copper-gold resource, is currently in pre-development and targeting operations as early as 2028. The development is supported by DMCI Holdings (PSE:DMC) as an operating partner, with DMCI Mining President Tulsi Das Reyes joining Dominion’s board.
Tampakan’s major shareholders include the equally-prominent Consunji family and Alcantara Group.
Dominion shares have surged 820.86% in 2026, giving the firm a market valuation of ₱27.7 billion ($672.46 million).
Despite the rally, Dominion’s market capitalisation remains below established domestic peers, including Apex Mining (PSE:APX) at ₱94 billion, OceanaGold Phiilippines (PSE:OGP) at ₱82 billion, Nickel Asia (PSE:NIKL) at ₱59 billion, Philex Mining (PSE:PX) at ₱58.86 billion, and Atlas Mining at ₱56.9 billion.
Write to Paula Fabe at Mining.com.au
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