X2 Resources announces it has secured US$2.50 billion of committed equity capital funding and up to a further US$1.25 billion of conditional equity capital funding, from a group of five investors (the "Club 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 Club Investors, who have contributed in equal amounts, comprise Noble Group, TPG Capital, sovereign wealth and pension fund investors. Today's announcement represents a critical milestone and enables X2 Resources' investment activities to commence. 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 said: "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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