Red Rock Resources (LSE:RRR), the natural resource exploration and development company focused on Africa and Australia, has announced that its DRC joint venture partner has received a provisional contract award from the Ministry of Rural Development for the provision and operation of low-cost housing factories.
The award follows the publication of a non-objection notice from the DRC's Public Procurement Regulatory Authority and represents the successful completion of the formal tender process, which Red Rock first flagged on 1 June.
The contract covers the provision and operation of factories for low-cost housing, structured as a social benefit component associated with the company's future mining activities in the DRC.
Immediate next steps include submission of a signed letter of engagement, the drawing of initial funds, and a site visit with Ministry officials.
Chairman Andrew Bell said the initial three factories would now be progressed, adding that the company expects "up to a further five orders shortly."
Red Rock also noted continued progress on its Musonoi copper-cobalt licence claims and the pursuit of a first new copper-cobalt licence in the DRC, with the company on site seven days a week since early April as those matters entered what it described as a critical phase.
