THE Philippine Competition Commission (PCC) said it approved the transaction between Metanoia South Pte. Ltd. (Metanoia) and Copper Smelting Investments, Ltd. (Copper Smelting).
“The commission found that the transaction is unlikely to harm competition, citing customers’ strong buying power, strict quality standards, and the limited production capacity of the parties involved,” the PCC said in a statement on Tuesday.
The PCC said the transaction’s impact on the global supply of doré, a semi-pure alloy of gold and silver used in refining, is unlikely to disrupt market dynamics.
“The review included consultations with the Notifying Parties, stakeholders, trade associations, and relevant sector regulators,” the PCC said.
“With no significant change in market power resulting from the transaction, the PCC’s clearance enables the parties to move forward while maintaining a level playing field for industry participants,” it added.
Metanoia is a Singapore-registered company, while Copper Smelting is registered in the British Virgin Islands. — Justine Irish D. Tabile
