Sm(CoFeCuZr)z commercial magnets are manufactured by powder metallurgy techniques. Microstructural investigations of Sm(CoFeCuZr)z magnets have shown that, increasing the Zr content, some impurity phases may appear. An alloy with composition (at%): 60.5% Co – 15.5% Fe – 11.5% Zr - 8.5% Sm - 4% Cu, homogenized at 1050oC, was investigated. Three main phases were identified: rhombohedral 1:3 (ZrSm)1(CoFeCu)3, hexagonal 1:7 (SmZr)1(CoFeCu)7 and cubic 6:23 (Zr)6(CoFe)23. Knowledge of possible phases present in 2:17-type magnets allows a better understanding of the nanocrystalline microstructure responsible for high coercivity of these magnets.