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Rio Tinto says no comment on Hunter Valley asset sale speculation

By: Esmarie Swanepoel     14th October 2015 Mining giant Rio Tinto has declined to comment on speculation that it is looking to divest of its New South Wales coal assets. Wire service Bloomberg earlier this week reported that Rio was in discussions with private mining venture X2 Resources, led by former Xstrata CEO Mick Davis, over the... 

Mick Davis’s X2 Resources increases capital to $5.6bn

     5th March 2015 Private mining venture X2 Resources, which was started by former Xstrata CEO Mick Davis, has completed its initial capital raising process, securing a total of $5.6-billion in equity capital to finance the creation of a new midtier diversified mining and metals group. The funding, which the... 

Iron-ore’s tumble seen continuing till end of 2015

By: Bloomberg     28th November 2014 With prices at a five-year low, only a handful of companies worldwide can make money selling iron-ore, according to UBS. Some Chinese mines have closed, while Western Desert Resources and London Mining have already failed. Pessimistic analysts expect the commodity to slide at least a further 14%... 

X2 sitting on $5bn war chest 

By: Creamer Media Reporter      17th October 2014 Creamer Media's Shannon de Ryhov speaks to Mining Weekly editor Martin Creamer about X2 Resources garnering another $1-billion to take the incipient mining company towards financial reserves of close on $5-billion. 

Mick Davis X2 now sitting on nigh-$5bn war chest

By: Martin Creamer     15th October 2014 Old Xstrata recollections were reignited on Tuesday as former Xstrata CEO Mick Davis announced that his new X2 Resources had garnered in another $1-billion to take the incipient mining company towards financial reserves of close on $5-billion. A number of new investors have taken the X2 total up... 

Mick Davis and team get going again as well-backed X2

By: Martin Creamer     30th September 2013 Shades of the old Xstrata surfaced on Monday with the emergence of the new X2 Resources, backed by an initial $1-billion investment, under former Xstrata stalwart Mick Davis and his long-standing support executive Trevor Reid. X2 Partners, Noble Group Limited and TPG Capital announced their... 

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