News

April 29, 2008

Red Rock Resources Is Looking To Act As An Iron Ore Consolidator In The Yilgarn District Of Western Australia

By Alastair Ford

On the desk at the reception as you walk into Andrew Bell’s offices, just opposite the new Rio Tinto building, is a dealer’s note for the acquisition of some Mindax shares. The offices are in a small unassuming muse tucked away behind Paddington station, and it’s only because the two-storey building is modestly distinguished with metallic nameplates that read ‘Greatland Gold’, ‘Regency Mines’, and ‘Red Rock Resources’ that you’d know from the outside that the whole setup isn’t the base for some aging dowager who hasn’t cleaned her net curtains for a while. You get the feeling Mr Bell has been in situ a whole lot longer than Rio Tinto. Whether he’ll outlast Rio is another matter.

One thing’s for sure, though. The small size of his companies means he can be a lot more fleet of foot when it comes to deal-making. The Mindax shares represent just the tip of the iceberg. Under the Red Rock banner Mr Bell is making all sorts of moves down in Australia to act as consolidator in manganese and especially in iron. It’s a big undertaking for a company that’s only capitalised – and not even in Australia – at just under £5.5 million.

But Mr Bell knows a thing or two about how to...