Source - SMW
Ariana Resources (LON:AAU)  has issued an update on construction of the Kiziltepe mine within the Red Rabbit gold-silver project in western Turkey. 

Kiziltepe is being advanced towards production through a 50:50 joint venture with Proccea Construction Co. The project is expecting first production in Q4 2016.

Highlights:

- Process (CIL/CIC and ADR) piping and electrical work to be completed by late October/early November.

- Back-up tailings pumps have arrived on site and are awaiting installation ahead of commissioning; larger diaphragm pump to be installed early 2017. 

- Commissioning process now underway, commencing with process plant; wet testing of thickeners and CIL/CIC tanks now complete. 

- Automation circuits and programmes to be operational during late stage commissioning in Q4 2016. 

- Open-pit development by the mining contractors fully underway, with mining and stockpiling of low-grade ore in progress ahead of commissioning and start-up (Figure 1). 

- 95% of the tailings dam landscaping is complete, with the dam wall and concrete drainage channel under construction. 

- Mine-site laboratory set up nearing completion with major components now installed or awaiting installation and testing. 

- Final commissioning and first gold pour expected in late Q4 2016; tailings dam completion and weather permitting. Managing director Dr. Kerim Sener said: "Following our most recent visit to Kiziltepe, completed last week, we are very pleased to report that mining of the Arzu South vein has commenced and stockpiling of this material is underway. 

"The JV is also developing a staged pit design that will optimise the cashflow and overall resource recovery from the Arzu South pit. Work on the process plant area is now nearing completion and the only significant remaining hurdle before we can commence gold-silver production is the completion of the tailings dam, which is expected during Q4 2016."

* * *

Anglo American (LON:AAL) has announced the value of rough diamond sales for De Beers's eighth sales cycle of 2016, amounting to $485 million, compared with the $639 million value of the seventh sales cycle of 2016.

De Beers chief executive Bruce Cleaver said: "Demand for De Beers's rough diamonds in Cycle 8 continued to reflect the improved midstream trading environment compared with 2015. 

* * *

The sector's biggest risers were Regency Mines (LON:RGM) and Beowulf Mining (LON:BEM) - up by more than 17.6% and 12.2% respectively in late trading. The biggest fallers were  Arian Silver (LON:AGQ) and Amur Minerals (LON:AMC) - down by 12.9% and over 11.0% respectively. 




At 4:07pm:

(LON:AAL) Anglo American PLC share price was -5.1p at 990.3p

(LON:AAU) Ariana Resources PLC share price was 0p at 1.8p

(LON:AGQ) Arian Silver Corporation share price was -0.1p at 0.68p

(LON:BEM) Beowulf Mining PLC share price was +0.63p at 5.75p

(LON:BKY) Berkeley Energia Ltd share price was -2p at 52.25p

(LON:CEY) Centamin PLC share price was -6.55p at 145.65p

(LON:CHL) Churchill Mining PLC share price was +0.63p at 31p

(LON:CZA) Coal of Africa Ltd share price was +0.25p at 3.1p

(LON:FDI) Firestone Diamonds PLC share price was 0p at 49p

(LON:FRES) Fresnillo PLC share price was -98p at 1729p

(LON:GEMD) Gem Diamonds Ltd share price was +2.75p at 126.5p

(LON:HOC) Hochschild Mining PLC share price was -15.2p at 277.8p

(LON:KMR) Kenmare Resources PLC share price was -2p at 323p

(LON:RGM) Regency Mines PLC share price was +0.08p at 0.5p

(LON:VED) Vedanta Resources PLC share price was +7.25p at 610.75p



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