X2 Resources secures up to USD3.75bn of committed and conditional equity capital
X2 Resources has secured USD2.50bn of committed equity capital funding and up to a further USD1.25bn of conditional equity capital funding from a group of five investors.
The committed equity capital is available for immediate draw down and will be used to finance the creation of a new mid-tier diversified mining and metals group.
The investors, who have contributed in equal amounts, comprise Noble Group, TPG Capital, sovereign wealth and pension fund investors.
X2 Resources is in discussions with a further select group of potential investors who are also seeking to benefit from opportunities in the natural resources arena.
Mick Davis of X2 Resources says: "We have attracted a very prestigious core group of large scale, high quality investors who share our vision of building a new mining group with the potential to generate attractive returns through the cycle. We believe the timing for this venture remains very opportune and we will now focus increased attention on starting the investment process."
Goldman Sachs International is acting as placement agent to X2 Resources in connection with the fundraising.
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