Noble group is one of the Mick Davis 500 Million buck investors.
I've been doing some more digging on Noble Group. China Investment Corp. owns a piece of Noble Group.
"Noble will be the preferred provider of supply chain management and logistics services for the venture and will thus benefit from fee income as well as its equity investment."
Mr Elman is the founder and chief executive officer of Noble Group Limited. Noble Group currently handles the Company’s manganese and chromite sales into the Chinese market;
Then read, this link below factor in the handling of chromite sales into the chinese market coupled with the long term bet.. ...I don't know..but sounds like the chrome at Ring of Fire to me.
Noble Group's $500m investment in X2 Resources seen as long-term bet
Benefits will take time to flow in.
Noble Group (Noble) has announced that it has agreed to invest in a newly established private mining venture – X2 Resources – where Noble, X2, TPG will each put in US$500m, the benefits of which according to research firm OCBC will not be felt in the near term.
"While we do see benefits from the investment, we note that most will need some time to flow through i.e. more medium to long term in nature. But for now, we believe that headwinds could continue to come from the sluggish economy in China," said OCBC.
"We further expect its Agriculture segment to remain a drag on its overall profitability. Separately, the potential shutdown in Washington could also weigh on sentiment," it added.
OCBC noted that under the agreement, Noble will be X2 Resources’ preferred marketer and provider of supply chain management (SCM) and logistics services, which is in line with its strategy to focus on its core competence as a supply chain manager.
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