Ivanhoe Mines was up 7.6% in afternoon trade on Friday after the company provided an update on its Oyu Tolgoi project in Mongolia and announced shareholders had approved a name change.
Base and precious metals continued to rally in New York trade after the EU moved "to break the vicious circle between banks and sovereigns" early on Friday.
The opposition Democratic Party declared victory in yesterday’s parliamentary elections over Mongolia’s ruling party in a highly disputed election that focused on how to better share profits from a conflict-ridden mining industry.
Nautilus Minerals, locked in a dispute with Papua New Guinea over ownership of the world's first sea-floor mine, dropped 9.7% on Thursday, hurt by news of violence, kidnapping, vote rigging and delays after the first week of general elections in the country.
While both Davis and Glencore CEO Ivan Glasenberg would suffer blows to their reputations as dealmakers if the merger should collapse other parties stand to lose more.
Fifty-six mines across Canada provided data on wages paid in 2011. Thirty-four are union mines; and twenty-two non-union. Forty-five reported increased wages while eleven made no changes. None decreased wages.
Commodities trader Glencore International is studying modifications to its $26 billion bid for miner Xstrata after Qatar's sovereign wealth fund, a key shareholder, unexpectedly opposed the deal's terms.