Red Rock Resources plc said it remained on course with its arbitration proceedings in the Democratic Republic of Congo, despite conflict and demonstrations. PARTNERS Chairman Andrew Bell added: “Inevitably the invasion in the east of the country has been a distraction and caused delay, including days when offices were shut and flights cancelled. “By maintaining […]
Tag: Democratic Republic of Congo (DRC)
Red Rock talks on DRC award affected by unrest
Red Rock Resources plc said it remained confident of reaching a settlement on its arbitration award in the Democratic Republic of Congo despite unrest in the country. PRIORITY The company was due to meet its local partner this week to try to reach an agreement. However “military developments” in the east of the country and […]
Red Rock nears conclusion of DRC arbitration
Red Rock Resources plc said it will submit further documents in its arbitration case against its local partner in the Democratic Republic of Congo. PROGRESS The dispute relates to the sale of certain copper-cobalt assets in Katanga by VUP (Vumilia Pendeza SA) without Red Rock’s permission. Red Rock holds 50.1% of the joint venture which […]
Red Rock discusses new DRC opportunities
Red Rock Resources plc has attended a “series of important meetings” on new business opportunities in the Democratic Republic of Congo. DISCUSSIONS The company said it had also signed a framework agreement with its local associate Koto DRC SARL for an equal new joint venture, conditional on acquiring suitable assets. Red Rock expects to return […]
Red Rock offered Central America oil and gas assets
Red Rock Resources plc said it had been conducting due diligence on a private offer of “some promising hydrocarbon assets” in Central America. PROGRESS Chairman Andrew Bell added that the assets had the potential to restore the company’s “nine-year-old oil and gas function”. “We are always ready to look at highly prospective projects, especially ones […]
Red Rock losses rise from Africa-Australia costs
Red Rock Resources plc reported an increase in losses of more than £1 million from its interests in Africa and Australia. FINANCES The company’s final audited results for the year ended 30 June 2022 showed that it had yet to generate revenue from its operations. Pre-tax loss of £2,800,000 (2021: loss of £1,699,000) was attributed […]