Commodity prices had generally closed slightly higher in London on Friday, with the exception of lead, while the gold price hovers around US$1,220 an ounce on the spot market.

Metals and mining stocks had managed a slight gain of 0.03% on Friday in Toronto, and BHP (ASX: BHP) had closed higher in Australia on the US$10.8 billion sale of its US onshore oil and gas assets. 

The major diversified miner was about 0.7% lower in afternoon trade today however, while mining stocks occupied four of the five spots posting the biggest declines on the S&P/ASX200 at the time of writing.

Copper miner Sandfire Resources (ASX: SFR) was about 8.8% lower after it agreed to extend the deadline on its proposed acquisition of Talisman Mining's stake in the pair's Springfield joint venture.

Diversified miner Independence Group (ASX: IGO) was down about 7% and lithium producer Orocobre (ASX: ORE) was more than 6% lower near market close on no news.

Finally, graphite producer Syrah Resources (ASX: SYR) was off 6.25% after announcing lower recoveries and lower prices in the June quarter, and reduced its 2018 production guidance and upped its C1 cash operating cost forecast.