China studies yuan devaluation as tool in trade dispute

Section:

From Bloomberg News
Monday, April 9, 2018

China is evaluating the potential impact of a gradual yuan depreciation, people familiar with the matter said, as the country's leaders weigh their options in a trade spat with U.S. President Donald Trump that has roiled financial markets worldwide.

Senior Chinese officials are studying a two-pronged analysis of the yuan that was prepared by the government, the people said. One part looks at the effect of using the currency as a tool in trade negotiations with the United States, while a second part examines what would happen if China devalues the yuan to offset the impact of any trade deal that curbs exports.

The analysis doesn't mean officials will carry out a devaluation, which would require approval from top leaders, the people said, asking not to be named as the information is private. The yuan weakened as much as 0.2 percent to 6.3186 per dollar in onshore trading on Monday before trading little changed as of 5:49 p.m. local time. China's central bank didn't immediately respond to a faxed request for comment. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-04-09/china-is-said-to-stud...



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Cobalt Blockchain Announces Supply Agreement
for Cobalt Concentrate from DRC Artisanal Mines Co-op

Company Announcement
Friday, April 6, 2018

TORONTO -- Cobalt Blockchain Inc. (TSXV:COBC) announced today that it has successfully negotiated a supply agreement with one of the largest local mining cooperatives in the Lualaba province of the Democratic Republic of the Congo.

Commencing in June 2018, the company will be supplied with a minimum of 40,000 tonnes of cobalt concentrate per year, with a minimum grade of 1 percent cobalt.

"This is a significant milestone in our strategy to generate near-term cash flow," noted Lance Hooper, Cobalt Blockchain president and chief operating officer. "Supply agreements with established mining cooperatives complement our plans for larger-scale, mechanized production activities on mineral concessions in our property portfolio." ...

... For the remainder of the announcement:

https://www.newswire.ca/news-releases/cobalt-blockchain-announces-supply...



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