Red Rock advances DRC copper-cobalt strategy while streamlining Australia and Kenya assets

Red Rock Resources plc (LSE:RRR) has stepped up efforts to secure copper-cobalt and gold opportunities in the Democratic Republic of Congo through its Koto Red Rock joint venture. The group has signed a non-disclosure agreement and begun due diligence on a privately owned copper-cobalt project in the Kambove area of Katanga.

Management said the licence under review appears to meet its investment benchmarks, including scale, grade, credible counterparties and the potential for relatively near-term production. Meanwhile, the company is still awaiting a court ruling in its ongoing dispute with VUP, which remains a separate but material matter for the business.

In parallel with its DRC focus, Red Rock is reshaping its Australian portfolio. The company has renewed two exploration licences in Victoria, partially relinquished one tenement and fully surrendered a smaller, isolated licence. It is also reducing overheads by sharing office space with another firm and has commissioned an independent review of its Australian assets, alongside discussions with potential regional partners to sharpen its development strategy.

In Kenya, the group is advancing talks to renew its gold licences, aiming to restart on-the-ground activity that could ultimately lead to applications for production licences.

Despite the operational repositioning, Red Rock’s investment case remains constrained by continued losses, persistent cash outflows and rising leverage. Technical indicators show some improvement in short-term price momentum, but the longer-term trend remains under pressure. Valuation metrics are also limited by negative earnings and the absence of dividend support.

More about Red Rock Resources

Red Rock Resources is an exploration and development group targeting gold, base metals, battery metals and hydrocarbons, with primary interests in Africa and Australia. Through subsidiaries including Red Rock Australasia, it manages exploration licences and pursues joint ventures and regional partnerships aimed at progressing prospective mining assets toward development.