The moduli-space metric in the static non-Abelian charge-two sector of the Moyal-deformed CP1 sigma model in 1+2 dimensions is analyzed. After recalling the commutative results of Ward and Ruback and the ?-regularized construction of the noncommutative Kahler potential due to the second author, explicit expressions and asymptotics for it are presented and discussed in different regions of the moduli space. Along two curves in the moduli space the potential can be calculated analytically. In the region of solitons known as "ring-like", perturbation theory is used. In the region of "lump-like" solitons, both perturbation theory and the z -function approach are employed. While the strong noncommutativity limit is smooth and under control, the commutative limit in the two-lump region remains a semiclassical challenge.