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Vale's nickel unit a good target for X2 but higher price needed

By: Reuters Vale's nickel business is a good target for former Xstrata CEO Mick Davis, but his reported offer price is probably too low, considering the Brazilian miner's stated interest in only selling a minority stake, analysts and banking sources said on Wednesday. On Tuesday, Bloomberg reported that... 

Former Xstrata CEO considering bid for Vale's nickel assets - Bloomberg

By: Reuters Former Xstrata CEO Mick Davis is considering a bid for Vale's nickel business, Bloomberg reported. Davis's investment vehicle X2 Resources values Vale's nickel business at $5-billion to $7-billion, Bloomberg said, citing two people, who asked not to be identified because the negotiations are... 

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

By: Bloomberg 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 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 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 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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