The Independent Consumer and Competition Commission (ICCC) of Papua New Guinea is calling for submissions from stakeholders regarding the potential competition impacts of VB (Reagent) Ltd's proposed equity investment in MR Industrial PNG Pte Limited.
VBR, a subsidiary of Vision Blue Resources Limited, aims to acquire a 49% interest in MR Industrials PNG Pte Ltd, which owns the Central Lime Project (CLP) in PNG. The CLP, situated in the Central Province, is a significant venture focusing on lime production and is integral to PNG's natural resource sector.
Mayur Resources Limited, the parent company of MR Industrials, is focusing on various resource developments in PNG, including iron sands, lime, cement, carbon credits, and renewable energy.
ICCC Commissioner and CEO, Paulus Ain, emphasized the importance of public consultation to assess the potential competition impacts of the proposed transaction. Interested parties are urged to submit their views on how the investment may affect PNG's markets. All submissions or comments should be directed to Mr. Ain at the provided address.
This call for consultation underscores ICCC's commitment to ensuring fair competition and transparency in PNG's natural resource sector, vital for sustainable economic growth and development.