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X2’s $5.6bln fund ready to start mining acquisition hunt

Image Credit: Ventures Arrica

X2, former Xstrata CEO Mick Davis’s new global mining investment platform, has completed its initial fund raise of $5.6 billion and is on the hunt for assets.  The timing is propitious, just as slumping commodity prices and a decade-long acquisition binge force mining companies to re-shape their portfolios. Bloomberg reports that X2 is looking to buy from some of the world’s largest miners. Investors in the investment company include TPG Capital, Asian commodities trader Noble Group as well as sovereign wealth and pension funds.

Read more at Bloomberg…

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