Red Rock Resources plc has been awarded an additional $2 million in damages with costs in its legal action over its copper-cobalt joint venture in the Democratic Republic of Congo.
ENFORCEMENT
On 14 January, the Commercial Court of Lubumbashi issued an executory judgment ordering Vumilia Pendeza SA (VUP) to pay the sum.
This follows the earlier judgment for payment of a principal amount of $2,505,000, representing 50.1% of the payment already made by a third party to VUP.
“These awards in our favour of $4,505,000 plus costs are steps in a process, and do not put this money into our account, nor do they represent the totality of our potential claims,” said chairman Andrew Bell.
“We now begin to move to the enforcement and extra-judicial phases of proceedings.”
Red Rock expects to announce drilling results from another project in the DRC, Luanshimba, within the next few days.