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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.

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South African company building new smelter in Zimbabwe

By: Victor Moolman     12th December 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... 

Davies to launch revised business process services incentive scheme

By: Marleny Arnoldi     12th December 2018 Trade and Industry Minister Dr Rob Davies will, on Friday, launch the revised Global Business Process Services Incentive Scheme, while on a trip to London, in the UK. The launch of the revised incentive further supports and enhances South Africa’s value proposition, catalysing new investments... 

Battery Minerals tables feasibility study for Balama

By: Esmarie Iannucci     12th December 2018 A feasibility study into Balama graphite project, in Mozambique, has estimated a capital cost of $69.4-million to support production of 58 000 t/y over a mine life of 27 years. ASX-listed Battery Minerals said on Wednesday that Balama would generate earnings before interest, tax, depreciation... 

Transnet praised for rapidly restoring stricken Saldanha iron-ore line 

By: Martin Creamer     7th December 2018 State rail transport enterprise Transnet has earned praise by pulling out all the stops to rapidly restore a railway bridge on South Africa’s crucial Sishen–Saldanha iron-ore line. The line came to a halt on November 28 after a truck carrying heavy equipment at excessive height on a public road... 

Absa PMI rises for first time in three months 

By: Marleny Arnoldi     3rd December 2018 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 49.5 index points in November from 42.4 in October – the first increase after three consecutive decreases. The improvement was mainly owing to four of the five main subcomponents rising.  

Upcoming protest not the first amid talks of transition away from coal – SAWEA

By: Simone Liedtke     16th November 2018 The South African Wind Energy Association (SAWEA) has defended the industry’s job creation potential. This comes ahead of a peaceful march by the National Union of Mineworkers (NUM), which is planned for November 17, to protest potential job losses in the coal-fired power generation sector as a... 

Good reception for cleaning system

By: Halima Frost     2nd November 2018 Following the launch of its KaiVac 1750 No-Touch cleaning system at last year’s Cleantex Cleaning Expo, held from June 12 to 14, cleaning solutions provider Goscor Cleaning Equipment says the system has since been taken up by the top five contract cleaning service providers in the country. The... 

Naamsa welcomes uptick in October new-vehicle sales

By: Marleny Arnoldi     1st November 2018 The National Association of Automobile Manufacturers South Africa (Naamsa) on Thursday said the latest domestic new-vehicle sales figures for October reflected an unexpected and welcome uptick of 1.7% to 51 866 units sold, which was largely supported by fairly strong growth in the various... 

Absa PMI fell for a third consecutive month in October 

By: Reuters     1st November 2018 South Africa's seasonally adjusted Absa Purchasing Managers' Index (PMI) fell further in October due to declines in new orders, business activity and employment, a survey showed on Thursday. The index, which is compiled by the Bureau for Economic Research and gauges manufacturing activity in... 

Denel reports R1.7bn operating loss for 2017/18, turnaround progressing 

By: Marleny Arnoldi     31st October 2018 State-owned defence industrial group Denel on Wednesday, with the release of its yearly results, stated that its operating loss of R1.7-billion for the 2017/18 financial year clearly shows a business that has had a difficult year, marked by lapses in governance, mismanagement and poor contract... 

Peabody says Q4 focus is on North Goonyella, completing Shoal Creek buy

By: Creamer Media Reporter      31st October 2018 NYSE-listed Peabody on Tuesday announced solid results for the third quarter, despite ending the three-month period with substantial challenges at the fire-hit North Goonyella mine, which remains idled. The miner reported revenue of $1.41-billion, compared with $1.48-billion a year earlier, and... 

TPP-11 to give Australian resources a major boost – Minerals Council

By: Esmarie Iannucci     31st October 2018 PERTH (miningweekly.com) – The Australian government has ratified the Trans-Pacific Partnership (TPP-11) trade agreement, a move that has been welcomed by the resources sector. Australia is the sixth country to ratify the agreement, meaning it can now enter into force on December 30, with... 

Stainless awards provide welcome boost to local sector

30th October 2018 The winners of the 2018 Sassda Columbus Stainless Awards have been announced at a glittering banquet in Fourways, Johannesburg with 189 entries from 53 companies resulting in a stellar list of more than 60 finalists. Speaking at the event, Sassda Executive Director John Tarboton said; “This year,... 

American trade delegation in South Africa to expand business opportunities in Southern Africa

By: African News Agency      30th October 2018 An American trade delegation, comprising businessmen from more than 30 American companies and state government leaders, is in South Africa seeking to expand agricultural export opportunities in the region. The trade delegation, which arrived in South Africa on Monday and will conclude its visit... 

Advocacy organisation urges better enforcement of second-hand tyre regulations

By: Marleny Arnoldi     29th October 2018 Newly launched advocacy organisation Part Worn Africa is calling on governments and regulatory bodies across the African continent to develop and enforce stronger regulations governing the sale of part-worn and second-hand tyres. Part Worn Africa advocates that part-worn and second-hand tyres... 

Zimbabwe gold producers warn currency shortage threatens output

By: Bloomberg     29th October 2018 Zimbabwean gold producers may suspend operations because a foreign-exchange shortage has left them with insufficient funds to cover production costs, the main industry lobby group said. Curbing output would deprive the country of a key source of export earnings as Finance Minister Mthuli Ncube... 

MC Mining secures first Makhado coking coal offtake agreement 

By: Simone Liedtke     29th October 2018 Coal exploration, development and mining company MC Mining has signed the first coal offtake agreement for hard coking coal (HCC) to be produced at its Makhado hard coking and thermal coal project, in Limpopo. The agreement was entered into between MC Mining subsidiary Baobab Mining & Exploration... 

Eskom welcomes Fitch Ratings’ decision

By: Marleny Arnoldi     26th October 2018 Ratings agency Fitch Ratings has affirmed Eskom’s long-term local currency issuer default rating and unguaranteed local currency senior unsecured ratings of ‘BB-’ . Fitch also maintained the national long-term rating at ‘A(zaf)’ and the national short-term rating at ‘F1(zaf)’.  

Debt-trap diplomacy?

By: Martin Zhuwakinyu     26th October 2018 I have made no bones about my cynicism about Chinese generosity towards African countries, which has taken the form of top-dollar freebies, government and State-owned company loans and investment in infrastructure. As I have said before, my uneasiness heightened when it came to light that Sri... 

SEZ to boost stainless steel industry

By: Thabi Madiba     26th October 2018 The Limpopo-based export-oriented mega mineral energy complex, in a special economic zone (SEZ), in which Chinese State-owned companies are set to invest, is “the biggest thing on the horizon” in the local stainless steel industry, says Southern Africa Stainless Steel Development Association... 

Manufacturer goes big at 2018 Sassda awards

By: Thabi Madiba     26th October 2018 Heavy-duty pump manufacturer Hazleton Pumps will compete in six categories at the biennial 2018 Southern Africa Stainless Steel Development Association (Sassda) Columbus Stainless Awards, with an entry submitted for the use of duplex stainless steel to decrease pumping costs in the mining... 

Wind energy investors watching S Africa closely

By: Tracy Hancock     26th October 2018 For the last several years, from the wind industry’s perspective, the South African government has done everything it can to discourage investor confidence; however, that has changed with the new government, states Global Wind Energy Council (GWEC). 

Manufacturer supplies stainless steel diesel field stoves to SANDF

26th October 2018 Manufacturer and exporter Desert Wolf plays an instrumental role in project teamster, which is the new South African National Defence Force (SANDF) project to upgrade the complete field kitchen facilities for the defence force and is currently supplying it with a range of stainless steel diesel... 

Grand Inga hydropower project, Democratic Republic of Congo

By: Sheila Barradas     26th October 2018 Government has given two groups of investors a four-week deadline to submit a joint proposal on the development of the multibillion-dollar Inga 3 hydropower plant. 

Tetra Pak celebrates 60 years in South Africa

25th October 2018 Tetra Pak, the leading food processing and packaging company, is celebrating 60 years in South Africa. With a world class manufacturing plant, established in 1979 in Pinetown, Tetra Pak South Africa has grown since its establishment to almost 2 billion packages to meet the needs of the growing... 

China cutting rare earth output, unnerving global manufacturers

By: Reuters     25th October 2018 The Chinese government is limiting domestic production of rare earth minerals in the second half of the year, a move likely to crimp international exports and send prices for the critical materials higher, according to data from Adamas Intelligence. China is by far the world's largest producer... 

Arch Coal net income surges on tax benefit

By: Mariaan Webb     24th October 2018 St Louis-based miner Arch Coal on Tuesday reported an 80% surge in third-quarter net income to $123.2-million, or $6.10 a diluted share, helped by a $45.2-million tax benefit. The third-quarter net income compares with $68.4-million, or $2.83 a share, in the prior-year period. Revenues totalled... 

BBF Safety Group

By: Creamer Media Reporter      24th October 2018 BBF Safety Group is proud to have been recognised in multiple categories at the recent Durban Chamber of Commerce KZN Exporter of the Year Awards held at the Durban International Convention Centre. The workplace safety solutions provider – who now exports to more than 20 countries globally - was... 

Anglo’s portfolio performs well in Q3  

By: Nadine James     23rd October 2018 Diversified miner Anglo American’s focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes for the third quarter 1% higher year-on-year, Anglo CE Mark Cutifani commented on Tuesday. “Production per employee has increased by 5% [so far this... 

Kumba on track to meet FY18 guidance 

By: Nadine James     23rd October 2018 Although rail constraints resulted in a reduction in export sales for Kumba Iron Ore during the third quarter ended September 30, the Anglo American subsidiary remains on track to meet its full-year guidance of producing between 43-million and 44-million tonnes of iron-ore. The iron-ore miner on... 

Ichthys ships first LNG to Japan

By: Esmarie Iannucci     23rd October 2018 The Ichthys liquefied natural gas (LNG) has shipped its first LNG from its onshore gas liquefaction plant in Darwin, in the Northern Territory. Operator Inpex on Tuesday said that the first shipment of LNG was destined for the Inpex-operated Naoetsu LNG terminal in Japan, and followed the first... 

Congo sets deadline for plan on 11 000 MW hydropower plant

By: Bloomberg     22nd October 2018 The Democratic Republic of Congo gave two groups of investors a four-week deadline to submit a joint proposal on the development of the multibillion-dollar Inga 3 hydropower plant. The government signed an accord with Chinese and Spanish consortia this week to advance the 11 000 MW facility, the... 

Why a no-deal Brexit risks freezing London's diamond trade

By: Bloomberg     19th October 2018 The UK has warned that a no-deal Brexit risks London being frozen out of the global diamond trade. Britain is a member of the Kimberley Process, the global certification program used to track and prevent the trade of conflict gems, through its European Union membership. The country will need to... 

Amid falling platinum prices, PGM miners upping chrome ore production to improve profitability 

By: Nadine James     19th October 2018 Some platinum group metals (PGM) producers have become large producers of chrome ore to improve their profitability, says Kagiso Asset Management investment analyst Mandi Dungwa. South Africa is the world’s largest chrome producer, delivering more than half of the global ore supply in 2017, with... 

African Chemicals Imbizo registers impressive growth

By: Natasha Odendaal     19th October 2018 The fourth African Chemicals Imbizo, to be held in Durban from October 24 to 25, is expected to be the largest one in its four-year history. Starting as a modest concept of meetings between members of the Durban Chemicals Cluster (DCC) – a public-private partnership between eThekwini municipality... 

South African mint shines in Africa

By: Natasha Odendaal     19th October 2018 The South African Mint’s (SA Mint’s) master craft and secure manufacturing has made it one of the top preferred manufacturers of coins and coin blanks in the world, and a valuable partner across Africa. The famous producer of circulation and commemorative coins has, on its CV, an impressive list... 

Positives of migration

By: Martin Zhuwakinyu     19th October 2018 Television footage of desperate Africans drowning in the Mediterranean Sea en route to Spain and other European destinations that hold out the promise of a better life has become all too frequent. The International Organisation for Migration puts the cumulative toll since 2000 at 33 000, with... 

CASA-1000 power transmission project, Kyrgyz Republic, Tajikistan, Pakistan and Afghanistan

By: Sheila Barradas     19th October 2018 The CASA-1000 project aims to provide for the export of surplus summer electricity from Tajikistan and the Kyrgyz Republic to Pakistan and Afghanistan. 

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