Xstrata Getting there first and fast

Mick Davis is a fast learner. The chief executive of Swiss- domiciled miner Xstrata was outbid in March for the Australian WMC. Xstrata was left with nothing but some bad memories. He should do much better with his new 20% interest in the Canadian miner Falconbridge. To start with, he has not paid over the odds. The price of 28 canadian dollars (23.40 american dollars) per share was 2% less than the closing price on Friday, and a reasonable 11 times consensus earnings expectations for 2005. Tru...