Goldman Sachs earlier in the day hiked its year-end price target to $12,000 per ton, from $10,000 previously.

President pushed for a review of the 2008 infrastructure for minerals deal with Sinohydro Corp and China Railway Group to bring more benefits for Congo, the world's biggest cobalt producer.

Rio Tinto and Glencore Plc are focused on waiting for opportunities to snap up specific parts of Anglo’s business as BHP’s bid unfolds.

Anglo’s shares are trading about 8% above the price implied by BHP’s initial proposal.

Anglo American jumped 3.2% after Reuters reported that Glencore was mulling an approach for the miner.

CEO Duncan Wanblad is meeting minister Gwede Mantashe for the first time since rejecting BHP's $39bn takeover bid last week.

The International Seabed Authority, which next meets in July, is hashing out the world’s first underwater mining code.

The proposed $39 billion combination has more than enough components to trigger intense oversight by regulators concerned about implications for market concentration and access to key minerals.