[miningmx.com] – X2 Resources, the private equity firm run by former Xstrata boss, Mick Davis, was under pressure to conclude mining deals but buying opportunities have been hard to find, said Reuters citing an unnamed source.
“Mick’s team has been looking at so many assets closely. But nobody wanted to sell to them. Vale didn’t want to sell, Rio didn’t want to sell, BHP didn’t want to sell,” said an industry source that Reuters said was close to Davis.
It was suggested his investors, who have pledged over $5bn in funds, may withdraw their interest preferring to put their capital in other sectors, Reuters said. “Not all those investors are stuck on mining,” a banking source told Reuters.
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