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Press Office - ECIC

ECIC

ECIC is a self-sustained, state-owned national export credit agency. The Corporation is a registered financial service provider and regulated by the Financial Services Board (FSB). To be at the leading edge of medium/long term export credit and investment insurance business, with specific focus on project finance underwriting, customer needs, and prudent portfolio and risk management. To facilitate and encourage South African export trade by underwriting export credit loans and investments outside the country, in order to enable South African contractors to win capital goods and services' contracts in other countries.

Topic

South African defence industry at a crossroads – Minister

By: Simone Liedtke     18th September 2018 The South African defence industry is “at a critical crossroads”, says Defence and Military Veterans Minister Nosiviwe Mapisa-Nqakula. Speaking at the fourth iteration of the Aerospace, Maritime and Defence (AMD) Conference, in Pretoria, on Tuesday, she said this was as a result of the many... 

Kalium completes BFS for Beyondie SoP project

By: Mariaan Webb     18th September 2018 ASX-listed Kalium Lakes has completed a “compelling” bankable feasibility study (BFS) for the Beyondie sulphate of potash (SoP) project, in Western Australia, prompting the board to approve early works and front-end engineering and design work ahead of a final investment decision. The BFS... 

CAMASA forges ahead to create a R5bn advanced Aerospace Manufacturing Industry in 5 years

By: Creamer Media Reporter      18th September 2018 Thursday 06th September, just shy of 20 months since its founding in December 2016, CAMASA (the Commercial Aviation Manufacturing Association South Africa) held its 2nd AGM characterised by industry-wide Stakeholder participation constituted of Government – including National and Provincial... 

New Botswana coal mine development under way – Minergy

By: Martin Creamer     18th September 2018 Work is under way on the new Masama coal mine, which Botswana Stock Exchange-listed Minergy expects to commission in January, ahead of its primary listing on London’s Alternative Investment Market (Aim) in the first half of next year. The 390-million-tonne Masama, located in the Mmamabula... 

Transnet, Eskom and PWC bosses to discuss administered prices affecting South Africa’s international competitiveness

By: Creamer Media Reporter      17th September 2018 Transnet and ESKOM Chief Executive Officers Siyabonga Gama and Phakamani Hadebe will discuss administered prices such as logistics costs, electricity prices and port tariffs, which are negatively affecting South Africa’s international competitiveness on the second day of the fourth Southern... 

Poultry industry takes on US chicken quota as court case brews

By: News24Wire      17th September 2018 The South African Poultry Association (SAPA) wants government to review the quota of US poultry imports, following the imposition of tariffs on local aluminium and steel products. In court papers filed in the North Gauteng Court, the organisation argues that US tariffs on SA steel and aluminium... 

Saldanha port’s iron-ore facility to shut for maintenance from Sept 26

By: Marleny Arnoldi     17th September 2018 Transnet Port Terminal’s (TPT’s) Saldanha iron-ore plant will shut down from September 26, as part of its yearly maintenance plan across mechanical, electrical and structural works. TPT Cape Channel GM Velile Dube states that maintenance is a critical necessity at this stage, since the facility... 

Wacker Neuson makes its mark in Zimbabwe with appointment of new dealer - Pelgin Consulting Services

14th September 2018 Expanding its dealer network past the South African border, Wacker Neuson, a global leading manufacturer of light and compact equipment, appointed family-owned Pelgin Consulting Services (Pvt) Ltd. as its official dealer in Zimbabwe on 28 August 2018 during an opening celebration held in Harare.... 

New Century brings new life to former Queensland mine

By: Mariaan Webb     14th September 2018 Praise is pouring in for New Century Resources’ zinc tailings project at a former mine site north-west of Mount Isa, Queensland, with Mines Minister Anthony Lynham declaring it an “exciting new approach” and Queensland Resources Council CEO Ian Macfarlane labelling the project “ingenious”. The... 

Pioneer expo to promote, enhance local manufacturing

By: Tasneem Bulbulia     14th September 2018 South African capital equipment representative the South African Capital Equipment Export Council (SACEEC) will host the pioneer Local Southern African Manufacturing Expo next year to promote localisation and showcase the country’s manufacturing industry, SACEEC CEO Eric Bruggeman tells... 

Importance of export councils recognised, emphasised

14th September 2018 Export councils are key drivers for South Africa’s economic transformation and they should be supported and prioritised, according to Department of Trade and Industry (DTI) deputy director-general Lerato Mataboge. This is in line with the South African Capital Equipment Export Council’s... 

Consultancy pursues innovation, growth

14th September 2018 Engineering consultancy AZMET continues to showcase South African engineering talent to a global audience, and the company is pursuing a number of plans for further expansions and opportunities that exist for organisations willing to innovate, says AZMET marketing director Ruan Kukard. AZMET,... 

Hurricane threatens US coking coal exports

By: Mariaan Webb     13th September 2018 Prices of metallurgical coal, used by steelmakers, are likely to rise if Hurricane Florence disrupts port operations at Virginia’s Hampton Roads for an extended time, Wood Mackenzie (Woodmac) said on Thursday. Hurricane Florence, which has been downgraded from a category four to a category two... 

Innovation recognised at this year’s EMA

By: Shannon de Ryhove     13th September 2018 The South African Capital Equipment Export Council (SACEEC) awarded South African mining supplier Afri-Tech the overall innovation award and the South African Innovation award at this year’s Electra Mining Africa exhibition for its locally manufactured forced ejection nozzle. The nozzle, which is... 

South African mining sees considerable decline of 5.2% in July – Stats SA

By: Simone Liedtke     13th September 2018 Mining production in South Africa decreased by 5.2% year-on-year in July, following a 3.7% year-on-year rise in June, mainly as a result of declines in the production of gold, iron-ore, coal and platinum-group metals (PGMs). According to Statistics South Africa (Stats SA), gold decreased by 15%,... 

Ultra-3000 offered to local, international markets

By: Tasneem Bulbulia     13th September 2018 Concrete products machinery manufacturer Pan Mixers South Africa (PMSA) completed trials for the Ultra-3000 last month, and is offering this “unmatched machine” to the South African and international markets, PMSA marketing and sales manager Quintin Booysen tells Engineering News. The PMSA-Ultra... 

Yamana Gold says Argentina export tax to impact on cash flow

By: Mariaan Webb     12th September 2018 Canadian miner Yamana Gold remains on track to deliver the previously flagged “step change” in cash flow, but warned on Wednesday that the new Argentina export tax would set back its plans. Last week, Argentina President Maurico Macri announced new taxes on exports as part of a larger plan aimed... 

Business confidence at its worst this year, marred by uncertainty

By: News24Wire      12th September 2018 Business confidence in South Africa has declined by 4.2 index points - measuring 90.5 in August compared to 94.7 in July 2018 - the lowest level this year. The South African Chamber of Commerce and Industry (Sacci) released its Business Confidence Index on Wednesday. The BCI does not reflect... 

Business confidence falls amid uncertainty

By: Marleny Arnoldi     12th September 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) declined by 4.2 index points in August to 90.5, compared with 94.7 in July. The BCI, nevertheless, remained 0.9 index point above the level of 89.6 recorded in August 2017.  

Further Australian LNG projects needed to keep prices in check

By: Esmarie Swanepoel     12th September 2018 New Australian liquefied natural gas (LNG) supplies will have to come on line by 2028 in order to forestall a shortage, advisory firm Wood Mackenzie (WoodMac) has forecast. “The Queensland LNG export projects have shattered the east coast’s ‘cheap gas forever’ mentality,” WoodMac director for... 

Collaborative conversation between govt, stakeholders needed to drive mining industry transformation

By: Simone Liedtke     11th September 2018 Turning around the fortunes of South Africa's mining industry will require greater collaboration between industry stakeholders, Department of Trade and Industry (DTI) director Yusuf Timol said on Tuesday. Speaking at a presentation hosted by the Mining Equipment Manufacturers of South Africa... 

Exxaro, Seriti said to mull bids for South32 coal assets

By: Bloomberg     11th September 2018 Exxaro Resources and Seriti Resources are among groups considering bidding for South32’s South African thermal coal operations, which have been valued at almost $800-million, according to people familiar with the matter. South32’s South Africa Energy Coal unit, the country’s third-biggest... 

South African business confidence slips in Q3 – survey

By: Reuters     11th September 2018 South African business confidence fell marginally in the third quarter, a survey showed on Tuesday, after the economy slipped into recession and hopes faded for a revival under President Cyril Ramaphosa. The Rand Merchant Bank (RMB) business confidence index compiled by the Bureau for Economic... 

Glencore-led Australian coal port wins court nod on $3.2 bln debt refinancing

By: Reuters     11th September 2018 Australia's Wiggins Island Coal Export Terminal obtained court approval on Tuesday for a $3.2-billion debt refinancing plan, offering respite to its owners who would have had to start repayments this month. The Queensland-based terminal, known as WICET, is 40% owned by miner and commodities... 

New Century starts slurry movement

By: Esmarie Swanepoel     11th September 2018 Based metals miner New Century Resources has started pumping zinc concentrate along the slurry pipeline to its port facility in Karumba. The company on Tuesday said that the operation of the slurry pipeline was another important milestone for New Century, with the saleable zinc concentrate... 

Prospect secures $10m more for Zimbabwe project

By: Esmarie Swanepoel     11th September 2018 Lithium developer Prospect Resources has secured a $10-million export finance facility from the Reserve Bank of Zimbabwe, which the company said will be used to meet development costs for its Arcadia lithium mine. The facility, which was issued to Prospect’s Zimbabwean subsidiary, will have a... 

Local manufacturing expo to bolster exports, economy

By: Tasneem Bulbulia     10th September 2018 The South African Capital Equipment Export Council (SACEEC) will host its inaugural Local Manufacturing Expo next year, to showcase local manufacturing capabilities and bolster the country’s economic growth, SACEEC CEO Eric Bruggeman told attendees at a presentation during Electra Mining, on... 

Manganese takes pole position in ARM’s earnings surge

By: Martin Creamer     10th September 2018 Manganese formed the backbone of the earnings performance of diversified mining company African Rainbow Minerals (ARM) in the 12 months to June 30, delivering 64% of the headline earnings, at R1.9-billion, and helping the company move into a strong net cash position by recording the best margin.... 

Palmer plans power station for Galilee project

By: Esmarie Swanepoel     10th September 2018 Mining personality and chairperson of Waratah Coal, Clive Palmer, has announced plans for the company to build a new A$1.54-billion coal-fired power station in Queensland’s Galilee Basin. The proposed 700 MW high efficiency low emission ultra-supercritical power station would be established on... 

ARM mulling ‘very exciting’ growth opportunities – Motsepe

By: Martin Creamer     7th September 2018 Diversified mining company African Rainbow Minerals (ARM) is right now looking at some very exciting growth opportunities, its executive chairperson Patrice Motsepe said on Friday. After announcing the delivery of 51% higher headline earnings of R4 814-million in the 12 months to June 30... 

On-The-Air (07/09/2018) 

By: Martin Creamer     7th September 2018 The planned imposition of carbon tax on South Africa’s smelters is going to put thousands of people out of work and lose South Africa billions of rands in lost export revenue. The promising new gold recovery project on the Far West Rand is another example of the private sector working together... 

African Chemicals Imbizo: The Gateway to Africa

7th September 2018 eThekwini Municipality and the Durban Chemicals Cluster will host the continent’s largest chemicals manufacturing event focussed on driving chemicals manufacturing growth and trade. The fourth African Chemicals Imbizo 2018 takes place on 24 October 2018 at the Durban ICC. It will strengthen ties... 

African Rainbow Minerals earnings rise, cash mounts, dividend boosted

By: Martin Creamer     7th September 2018 The headline earnings of diversified mining company African Rainbow Minerals (ARM) rose sharply in the 12 months to June 30, when the company generated strong cash flow that has underpinned a boosted cumulative dividend payout of R1.7-billion. Headline earnings increased by 51% to R4 814-million,... 

High demand for SAIW fabricator certification

7th September 2018 Nonprofit technical organisation Southern African Institute of Welding (SAIW) is encouraged to see a high number of large companies applying for Welding Fabricators Certification Scheme (WFCS) which is a quality requirement for fusion welding of metallic materials, as well as certified... 

South Africa’s logistics ranked third among upper-middle-income countries

By: Simone Liedtke     6th September 2018 The 2018 World Bank Logistics Performance Index (LPI) ranks South Africa as the third most competitive market behind Thailand and China in terms of logistics performance among upper-middle-income economies ranking. Brand South Africa on Thursday welcomed the results of the LPI, which also sees... 

MC Mining to negotiate EPC package with Chinese group

By: Marleny Arnoldi     6th September 2018 Coal miner MC Mining has signed heads of agreements with Chinese construction group China Railway International Group (CRIG) to negotiate an engineering, procurement and construction (EPC) contract for the Makhado project, in Limpopo. Under the terms of the agreements, MC Mining and CRIG will... 

Northern Territory’s 5-point plan to build a gas industry

By: Esmarie Swanepoel     6th September 2018 The Northern Territory government has revealed a five-point gas strategy to drive its vision of creating a world-class hub for gas production, manufacturing and services, by 2030. The strategy will be aimed at getting more liquefied natural gas (LNG) in Darwin, and expand the Darwin LNG export... 

South African company building new smelter in Zimbabwe

By: Victor Moolman     6th September 2018 Foundry and engineering company Thos Begbie is working in the Great Dyke of Zimbabwe, close to the town of Shurungwi, where it is helping to construct the Unki platinum smelter, adjacent to a mining operation owned by platinum mining company Anglo American Platinum (Amplats). Thos Begbie was... 

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