Progress Update on Red Rock Resources’ Arbitration in the DRC
Red Rock Resources, listed on AIM, has issued a significant update regarding its ongoing arbitration proceedings in the Democratic Republic of Congo (DRC) concerning the company’s stake in the VUP copper/cobalt joint venture (JV).
As of February 5, Red Rock announced that the finalization of the arbitration award regarding its claim for a portion of the sale proceeds from a JV asset was pending signature and release.
Despite a temporary halt in proceedings due to Presidential elections and the subsequent formation of a new administration, Red Rock has indicated that there is now a consensus regarding the company’s position.
It anticipates a swift resolution of the matter, independent of any third-party issues, in the near future.
Recent constructive discussions with former JV partners have enabled Red Rock to potentially present a unified position to the arbitrator.
Meanwhile, in Burkina Faso, Red Rock and its technical partners have deployed a team to the Bilbale project site. The imminent arrival of the first gold wash plant, scheduled to be transported by air within days, marks a significant step forward for the project.
