THE Independent Consumer and Competition Commission (ICCC) has granted clearance to Kumul Minerals Holdings Limited (KMHL) to acquire a minor participating interest in the Ramu Nickel Cobalt Joint Venture, also known as the Ramu Nickel Project.
In a decision issued on 18 February 2026, the ICCC approved KMHL’s proposal to acquire a 1.97 per cent participating interest from Mineral Resources Ramu Limited (MRRL), a subsidiary of the Mineral Resources Development Company (MRDC).
The ICCC determined that the transaction would not have the effect of substantially lessening competition in any market in Papua New Guinea.
ICCC Commissioner and Chief Executive Officer Roy Daggy said the acquisition involved only a minor transfer of interest and would not alter the existing market structure or the level of competition within PNG’s mining sector.
“This transaction involves a mere transfer of a minor participating interest in the Ramu Nickel Project to KMHL,” Commissioner Daggy said. “As such, the current market structure and level of competition are expected to remain unchanged following the acquisition.”
He explained that the transaction would result in KMHL holding a minimum interest of 1.97 per cent in the project and would not lead to any material changes in operational control or decision-making arrangements.
The project will continue to be managed and operated under existing long-term agreements by the current operator, MCC Ramu NiCo Ltd, which retains an 85 per cent ownership interest.
While the ICCC acknowledged that other genuine concerns were raised during the public consultation process, Commissioner Daggy clarified that these matters fell outside the commission’s competition mandate.
“The ICCC’s assessment was necessarily focused on identifying any likely anti-competitive effects arising from the proposed acquisition,” he said. “Issues that fall outside competition considerations are more appropriately addressed by the relevant State agencies.”
The decision is consistent with the requirements of the Independent Consumer and Competition Commission Act 2002.