Red Rock Resources Signs MoU to Launch Social Housing Factories in DRC
Red Rock Resources partners with DRC government to build social housing factories, supporting mining JV growth
London-listed Red Rock Resources has reached a major milestone in its joint venture (JV) with Koto DRC, signing a memorandum of understanding (MoU) with the Democratic Republic of Congo’s Ministry of Rural Development to fund and commence construction of three factories for social housing.
Each factory is expected to produce at least 3,000 housing units annually, marking the first tangible step in the JV’s broader plan to eventually establish 142 factories nationwide.
The Koto JV, initially outlined in framework agreements signed in November 2024, was designed to create conditions for Red Rock and its partners to be granted copper and cobalt mining licenses while contributing to the government’s social objectives, including affordable housing development.
Under the framework, the company is set to receive tax and royalty relief under the Public-Private Partnership Act of 2014, enabling meaningful contributions to social development programs.
“The implementation of the structures planned under the framework Koto JV has reached an important milestone with the signing of the MoU. The initial financial cost of the social housing programme is now secured from external sources,” said Red Rock Chairperson Andrew Bell on October 23.
Bell confirmed that the Ministry aims to ultimately build 142 factories across the DRC. He added that Red Rock, acting in an advisory capacity, will begin site visits to identify copper, cobalt, and gold mining projects from a short list to support detailed implementation and future JV growth.
The company had previously been cautious in advancing the Koto JV while awaiting judgment on a separate financial claim related to the sale of its Vumilia Pendeza JV assets. Bell clarified that this did not affect the Koto project directly.
“Progress in structuring and advancing the Koto JV has been achieved without additional funding or commitments from the company, which changes the calculus entirely,” he said.
With the MoU signed, Red Rock is now preparing to visit short-listed mining licenses in the coming days to begin implementing the JV’s strategic plans.
