Tahoe Resources (TSX: THO) was the big mover with a 48.97% jump on news of its acquisition by Pan American Silver to create one of the world's largest silver miners.

Tahoe closed at C$4.32 but remains down 28.36% so far this year in what has been a turbulent period for the precious metals producer. Pan American (TSX: PAAS) closed down more than 10% in Toronto.

Rio Tinto's (LSE: RIO) drop of 3.54% was part of a dip in London-listed metals and mining stocks yesterday, in what was a negative finish for the FTSE100 despite UK prime minister Theresa May gaining Cabinet backing for her Brexit plan.

Two of the three mining equities on New York's S&P500 closed higher with gold major Newmont Mining (NYSE: NEM) up 3.15% as the gold price started to rise.

It is almost US$10 an ounce higher than this time yesterday, recently trading close to $1,211 on the spot market.

Australian gold stocks were higher on the benchmark S&P/ASX200 at the time of writing, with Regis Resources (ASX: RRL) up more than 3.7%.

Base metal futures were all higher in Asian trade around lunchtime, amid reports of "constructive" trade talks continuing between US and Chinese officials.