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OPPORTUNE TIME

11th October 2013

By: Darlene Creamer

  

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“At this opportune time”, was the phrase former Xstrata stalwart Mick Davis used twice in announcing that he, Trevor Reid and team were back as X2 Resources, with $1-billion from Yusuf Alireza’s Noble Group and JimCoulter’s TPG Capital. “If we’re clever, Trevor, all this can be ours,” are the words Mining Weekly cartoonist Darlene has put into the mouth of South African-born Davis, 55, who took Xstrata from zero to R500-billion, 62 000-employee hero in two shakes of a lamb’s tail. Fellow South African Ivan Glasenberg then gobbled Xstrata up to give Glencore a market capitalisation twice that of the iconic Anglo American.

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