By changing the mine plan to use large-scale equipment, and by building a 100,000 tonne-a-day mill to process the ore, the company will be able to produce about 650,000 ounces of gold a year on average, said chief executive James Komadina.

Financial Post reports Global X Uranium ETF (NYSE:URA) says that the uranium sector is showing some signs of improvement after the Japanese nuclear incident.

China has discovered its largest molybdenum deposit containing 2.2 million tons of the silvery metal, which ranks the second largest in the world, in east China's Anhui province. Anhui Geology and Mineral Resources Bureau estimate the deposit in Jinzhai county has 1.275 billion tons of ore which contains 2.2 million tons of molybdenum, said Wu Yulong, head of the bureau.

Mining Weekly reported that Lithium Americas Corp. (TSE:LAC) may be ready to produce potash at its Argentina project by 2014: In an April preliminary economic assessment (PEA) of Cauchari-Olaroz, WorleyParsons estimated the project could produce 55 500 t/y of potash, and 20 000 t/y of lithium carbonate.

Lithium One Inc. (CVE:LI) is a mineral exploration and development company positioned to be a near-term producer of low-cost lithium and potash. Its flagship property is the Sal de Vida brine project in Argentina which hosts one of the largest and highest-grade brine deposits in the world. A preliminary economic assessment of the property is due to be completed in Q3 2011.

Mining Weekly reports that Canadian diamond company, Lucara (CVE:LUC) will list on the Botswana exchange.

NGEx Resources Inc. (TSX:NGQ) ("NGEx") is pleased to announce the start of the 2011 exploration program at the company's GJ copper-gold project located in northern British Columbia, Canada.

Reuters reported that Extorre (CVE:XG) has discovered additional gold and silver deposits at the Cerro Moro mine. Image by Extorre

New Brunswick Business Journal reported that research funding for mining projects in New Brunswick has doubled over the past decade. Says the journal: Northcliff Resources Ltd. is drilling samples for metallurgical feasibility test on its Sisson property, about an hour outside of Fredericton, to determine the scope of the tungsten and molybdenum deposit there, which has shown early promise.

Scarborough Evening News reported that test drilling has been approved for a potential potash site near Scarborough, UK. Once the test drilling is completed Sirius says it then plans to study the results alongside geological and seismic studies to determine where the mine head will be placed.

NineMSN reports that shares in Meridian Minerals (ASX:MII)jumped after a Chinese state-owned entity, revealed plans to takeover: Shares in Meridian Minerals jumped after the junior explorer's largest shareholder, a Chinese state-owned entity, revealed plans for a $67.5 million takeover offer. Meridian shares were up one cent, or 8.7 per cent, at 12.5 cents at 1343 AEST after an earlier high of 13 cents.

Full Metal Zinc Ltd. (CVE:FZ) reports Al Paterson has joined its board of directors and it has granted stock options to employees.