Mick Davis’s X2 in ‘serious’ talks for Rio Tinto’s coal assets in Australia: FT

Mick Davis

The Financial Times reported this morning that Mick Davis, the former head of Xstrata, is in “serious” talks with Rio Tinto about a multibillion-dollar offer to buy some of the global miner’s Australian coal assets.

X2 has so far expressed interest in a number of assets in copper, coal and other commodities, but This could be Davis first significant acquisition since he launched his investment fund, X2 Resources, for which he has raised $5.6 billion.

FT quotes people familiar with the matter who said that discussions could extend to include Rio’s metallurgical coal assets in Queensland, which yield a different grade of coal that is used in steelmaking.

Mick Davis is one of the highest-profile mining executives, having run Xstrata until it was bought by Ivan Glasenberg’s Glencore in 2013.

He previously served as chief financial officer of Billiton, the mining company that in 2001 merged with BHP to form the world’s largest natural resources group by market capitalisation.


Mick Davis Tells Investors to Stay Away From Coal, Africa

Former Xstrata boss Mick Davis, a driving force in the deal making that transformed the mining sector during the commodities boom, suggested investors to stay away from coal and Africa, until at least next More…

Mick Davis

By Tibi Singer On Saturday, March 7th, 2015

Mining Boss Mick Davis Staging Big Comeback, Committed to UK Jewish Life

Mick Davis, who presided over the sale of Xstrata, the world’s largest exporter of thermal coal, to Glencore for $50 billion, has accumulated $5.6 billion in investments—from Noble Group, TPG Capital, sovereign More…

Glencore's $31 Billion Xstrata Takeover Approved in Final Vote

By Vered Weiss On Thursday, September 18th, 2014

What Will Mining Mogul Mick Davis Buy Next?

Well the guessing game continues concerning which assets mogul miner Mick Davis is going to buy to build up his mining company.  His company Xstrata, an Anglo-Swiss multi-national miner, merged with Glencore More…

Glencore's $31 Billion Xstrata Takeover Approved in Final Vote

By Vered Weiss On Thursday, September 11th, 2014

Mick ‘the Miner’ Davis Criticized Israel, Listed Most Powerful Jew in England

– The Jewish Chronicle released its “Power 100″ list of prominent Jews in England. Topping the list is Mick “the Miner” Davis, who angered many in the Jewish community by saying Israel More…

Key Speakers At The Sberbank Russia Forum 2013

By Eli Horn On Monday, January 12th, 2015

Glencore’s Ivan Glasenberg Maneuvering to Create Mining Goliath

A multibillion-dollar merger between commodities conglomerate Glencore and mining giant Rio Tinto may take place this year as Glencore’s CEO is pushing for the deal, a report said. A Glencore-Rio tie-up would More…

Read more about: , , , , , , , , , , , , , , , , , , , ,

Wordpress site Developed by Fixing WordPress Problems