Former Xstrata CEO Considers Bid for Nickel Assets of Vale

Bloomberg reported that Former Xstrata CEO Mick Davis is considering a bid for Vale SA’s (NYSE:VALE) nickel business.

As quoted in the market news:

Davis’s investment vehicle X2 Resources values Vale’s nickel business at $5 billion to $7 billion, said two of the people, who asked not to be identified because the negotiations are private. There hasn’t been any formal negotiation between X2 and Vale about the assets yet, they said.

Vale, which is also the world’s leading iron-ore miner, has already said it may try to raise cash by selling some of its assets.

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