The Philippine Competition Commission (PCC) has approved the proposed acquisition deal between Metanoia South Pte. Ltd. and Copper Smelting Investments Ltd., finding that the agreement poses no competition risks.

The PCC said the acquisition was approved following a Phase 1 review, which determines if a transaction may substantially lessen competition.

The antitrust body noted that it also consulted with both Metanoia and Copper Smelting, as well as stakeholders, trade associations, and relevant sector regulators as part of the review.

After a month of evaluation by its mergers and acquisitions office, the PCC confirmed that the acquisition deal has no impact on the global supply of doré.

Doré is a semi-pure alloy of gold and silver primarily used in refining.

“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,” it said in a statement.

The PCC said this decision reflects the competitive dynamics of the global doré market.

With the commission’s clearance that the transaction would maintain a level playing field, both parties can now move forward with the acquisition deal.

Metanoia is a newly incorporated entity registered in Singapore, while Copper Smelting is registered under the laws of the British Virgin Islands.

Under the Philippine Competition Act, the PCC reviews mergers and acquisitions to make sure that these deals do not harm market competition.

The commission’s review process protects consumer welfare and promotes fair business practices by preventing undue market concentration and preserving a competitive environment across sectors.