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China forex reserves break 8-month run of declines

Section: Daily Dispatches

By Gabriel Wildau
Financial Times, London
Tuesday, March 7, 2017

SHANGHAI -- China's foreign exchange reserves rose in February, surprising analysts by breaking an eight-month string of declines and offering the latest evidence that a stable renminbi and tighter capital controls are succeeding in staunching capital outflows.

China's currency weakened by a record 6.5 percent against the dollar in 2016 amid unprecedented capital outflows. In response, the central bank sold dollars from its reserves to relieve pressure on the currency. Foreign exchange reserves fell below $3 trillion for the first time in five years in January.

But they rose by $6.9 billion to reach $3.01 trillion at the end of February, the central bank said today. Analysts had expected a decline of $25 billion, according to a Reuters poll.

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K92 Mining is producing much more gold than planned

Company Announcement
Wednesday, March 1, 2017

K92 Mining Inc. is pleased to report that mining production has shown a steady ramp up over the last three months with ore tonnes mined being over 50 percent above budget in January while contained gold ounces were almost 20 percent above budget.

The company mined more than 8,000 ore tonnes by February 24 and is on target to achieve 10,000 tonnes by month end, which is 40 percent above February budget. The increased ore production is in part due to significant lower-grade ore being identified outside the planned ore envelope, which was identified by our ongoing grade-control program, highlighting the importance and success of this program. ...

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