London mining stocks open higher, boosted by retreating oil prices

London mining stocks opened higher as oil prices retreated. Despite a slight decline in gold prices, mining stocks still recorded gains as traders assessed the inflation outlook. Mining companies are among the largest diesel consumers globally; rising oil prices can push up mining costs and erode profit margins. As diplomatic efforts to end the Middle East conflict intensify, oil prices are declining. Anglo American rose 2.1%, BHP gained 1.5%, Rio Tinto was up 1%, and copper miner Antofagasta climbed 2.3%.