The company did not name the new investors.

X2 has already amassed $4.8 billion in funds after securing $2.5 billion of committed funding and $1.25 billion of conditional funding in March from Singapore’s Noble Group, private firm TPG Capital, and sovereign wealth and pension fund investors.

The company said $3.3 billion was available for immediate drawdown and discussions with additional potential investors remained ongoing.

“With almost $5 billion in equity and access to significant additional debt funding, X2 Resources is uniquely positioned and we are currently reviewing a number of opportunities in the metals and mining sector,” Davis said.

“We will build on the team’s unparalleled track record of acquiring and integrating assets and supporting the management teams of acquired businesses to create value.”

Davis formed X2 after leaving the top job at Xstrata last year when the company merged with Glencore.

Former Xstrata chief financial officer Trevor Reid, who also left once the merger was complete, has joined Davis at X2, as well as other former Xstrata senior executives Andrew Latham, Benny Levene, Thras Moraitis and Ian Pearce.

X2 is yet to make an acquisition but has been linked to a number of assets, including BHP Billiton’s Nickel West operations in Western Australia and Goldman Sachs’ Colombian Natural Resources.

Late last week, the Financial Times reported that X2 had bid for the assets BHP is planning to spin off.

According to the report, BHP rejected the bid, which may have been worth up to $10 billion, instead unveiling demerger plans in August.