LONDON, September 30, 2013 /PRNewswire/ -- X2 Partners ("X2"), Noble Group Limited ("Noble") and TPG today announce that they have agreed to invest in a newly established private mining venture, X2 Resources. Under the terms of the agreement with X2, Noble and TPG will each invest US$500 million. X2 has been established by Mick Davis, Trevor Reid and a team of executives responsible for the creation of Xstrata plc (the "X2 Team") to seek value creating opportunities in the mining and metals sector. The X2 Resources investment proposition is to create a new mid-tier diversified mining and metals group by leveraging the extensive track record of the X2 Team in identifying and acquiring assets and businesses at an opportune time in the cycle and applying their proven approach to integration and value enhancement to the resulting portfolio of operations. Noble will be X2 Resources' preferred marketer and provider of supply chain management and logistics services. The partnership with Noble brings significant advantages, including market intelligence, proprietary deal flow, acquisition support and post-acquisition services such as supply chain and risk management. As a leading private investment firm with US$55.3 billion of assets under management and investments around the world, TPG brings to X2 Resources extensive global investment experience and resources, deal flow and access to investors. Mick Davis said: "We are pleased that Noble and TPG share our enthusiasm for this enterprise to create significant value in the mining and metals industry at this opportune time. The combination of the X2 Partners team's multi-decade industry experience with Noble's and TPG's strongly complementary capabilities will ensure X2 Resources is distinctively able to capture this value."Yusuf Alireza, Chief Executive Officer of Noble, said: " Noble's partnership with X2 and TPG brings together the complementary skill sets of the X2 team's unparalleled experience in building major diversified mining companies with our expertise as a global supply chain manager and TPG's global investment franchise. The investment is consistent with our previously communicated strategy of focusing primarily on our core competence as a supply chain manager rather than a producer of natural resources."Jim Coulter, founding partner of TPG, said: "We are excited at the opportunity to partner with Noble and X2 Resources. The X2 team has an impressive track record of building metals and mining platforms around the world.We look forward to deploying TPG's global network and experience to help build this new venture with such an extraordinary team." X2 Partners is currently in discussions with a further select group of potential investors who are also seeking to benefit from opportunities in the natural resources arena by investing in X2 Resources.