Mining Roundup

Centamin (LON:CEY) says preliminary total gold production for the third quarter was 148,674 ounces, a 6% increase on the previous three months and a 41% increase on a year ago.

Quarterly throughput at the process plant was 2,806kt, a 4% decrease on the previous quarter and in excess of its base case target rate of 11 million tonnes per annum (Mtpa).

Open pit total material movement (ore plus waste) increased 7% on the previous quarter to 16,191kt. Open pit ore production decreased by 14% to 2,936kt at an average mined grade of 1.06g/t. The average head grade to the plant from the open pit was 1.14g/t.

The run of mine ore stockpile balance increased by 157kt to 1,169kt at the end of the period.

The underground operation delivered 255kt of ore, in line with the previous quarter, at an average mined grade of 9.0g/t. Productivity remained above the forecast rate of 1 million tonnes per annum at 6g/t. Ore from stoping was 153kt at 8.8g/t and ore from development was 103kt at 9.2g/t.

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BHP Billiton (LON:BLT) has submitted its 2016 petroleum investor briefing to the National Storage Mechanism. The document can also be accessed via BHP Billiton's website -

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Stellar Diamonds (LON:STEL) has announced the results of an independent preliminary economic assessment for the proposed Tongo-Tonguma mining project with Octea Mining.

Stellar announced on 22 August s proposed transaction with Octea Mining to combine their adjacent Tongo and Tonguma diamondiferous kimberlite dyke properties in eastern Sierra Leone,

Stellar says the PEA demonstrates a financially robust and high margin 21 year life of mine over an initial resource of 4.5 million carats.

The PEA also recognises considerable upside exists from additional high-grade kimberlite dykes on the properties which are not yet categorized into resource. Highlights:

- Estimated pre-tax Project NPV(10) and IRR of $172 million and 49% respectively

- Projected life of mine Project revenues of $1,518m with operating costs of $847 million

- Estimated operating margin of 50% over the life of mine

- First production expected within 12 months, ramping up to over 200,000 carats p.a. in 4th year

- Expected Capex of $31.8 million in first two years (including 15% contingency)

- Estimated 3.96 million carats recoverable from the initial 4.5 million carats resource at a +1.18mm cut-off

- Recoverable diamond grades and values for first three kimberlites to be mined of:

* Kundu: 260cpht and $209 per carat ($543 per tonne)

* Lando: 220cpht and $209 per carat ($440 per tonne)

* Tongo: 100cpht and $310 per carat ($310 per tonne)

- Exploration target of up to 8 million carats in addition to existing resource

Chief executive Karl Smithson said: "The PEA of the combined Tongo-Tonguma mine demonstrates robust financial returns for a modest capital requirement and supports the Board's decision to pursue this strategic acquisition. Three kimberlite dykes, Kundu, Lando and Tongo are contained within the mine plan and have compellingly high diamond grades and values and together support a long life of mine.

"We are further encouraged by the potential which exists to significantly increase the resource base by bringing a number of additional high grade kimberlites that have been discovered to date on both licences into the long term resource base.

"We continue to make good progress with the legal and other due diligence processes that are required to complete the Transaction and will provide further updates in due course."

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Caledonia Mining Corporation (LON:CMCL) says it remains on track to meet production guidance of 50,000 ounces for at its 49%-owned subsidiary the Blanket Mine in Zimbabwe for this year and continues to progress towards its long term target of 80,000 ounces by 2021.

Approximately 13,430 ounces of gold were produced during the Quarter, representing a 23 per cent year on year increase on the gold produced in Q3 2015 (10,927 ounces) and a 7.4 per cent quarter on quarter increase on the gold produced in Q2 2016 (12,509 ounces).

Caledonia is also pleased to announce that in terms of the ongoing investment programme at Blanket Mine, a new ball mill has been installed and the commissioning process is proceeding as anticipated.

The new mill will increase daily throughput at the Blanket plant by 20 per cent, from 1,500 t/day to 1,800t/d, and will allow Blanket to meet its plan to double 2015 production to 80,000 ounces by 2021.

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The sector's biggest riser was Edenville Energy (LON:EDL) - up by more than 18.1% in late trading - while the biggest faller was Karelian Diamonds (LON:KDR) - down by 10%

At 4:24pm:

(LON:BEM) Beowulf Mining PLC share price was -0.25p at 5.5p

(LON:BKY) Berkeley Energia Ltd share price was +0.75p at 53p

(LON:BLT) BHP Billiton PLC share price was +1.25p at 1202.25p

(LON:CEY) Centamin PLC share price was +2.4p at 147.6p

(LON:CHL) Churchill Mining PLC share price was +0.13p at 30.63p

(LON:CMCL) Caledonia Mining Corp share price was -5.5p at 126.5p

(LON:CZA) Coal of Africa Ltd share price was -0.06p at 3.04p

(LON:EDL) Edenville Energy PLC share price was +0.09p at 0.59p

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

(LON:FRES) Fresnillo PLC share price was -50p at 1674p

(LON:GEMD) Gem Diamonds Ltd share price was -0.75p at 123.25p

(LON:HOC) Hochschild Mining PLC share price was -17.65p at 259.35p

(LON:KMR) Kenmare Resources PLC share price was +20.38p at 337.63p

(LON:VED) Vedanta Resources PLC share price was +12.5p at 618p