Red Rock Resources plc joint venture partner has been awarded a provisional contract to build and operate factories, each producing 3,300 to 5,000 low-cost houses a year, in the Democratic Republic of Congo.
FUNDS
The company said that the JV’s provision of low-cost housing is part of the social benefit associated with future mining activities.
At the start of June, Red Rock’s partner Koto DRC sarl was awarded $21,476,663.10 for the factories.
The 50-50 JV, which was formed in November 2024, will operate the factories on behalf of the Government.
Red Rock chairman Andrew Bell said that the first factory was expected in late Summer or early Autumn, with first sales by the end of 2026.
“The initial three factories will now be progressed and we expect up to a further five orders shortly.”
The JV will next submit a letter of engagement, draw initial funds and prepare for a site visit by government officials.
PORTFOLIO
Red Rock also reported it had secured a further three years for its Boulon gold licence in southwest Burkina Faso and further progressed renewal of its two Migori Gold Belt licences in Kenya.
The company is also advancing its claims relating to the Musonoi licence as well as the grant of the first new copper-cobalt licence in the DRC.