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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

Construction gets under way at new Ngqura liquid bulk terminal

By: Tasneem Bulbulia     22nd February 2019 Oiltanking Grindrod Calulo (OTGC) and the Transnet National Ports Authority (TNPA) on Thursday turned the first sod at the site of the Port of Ngqura’s future liquid bulk tank farm and main access road. This comes ahead of the planned decommissioning and rehabilitation of the existing liquid bulk... 

Transnet sets up war room to combat infrastructure-theft surge and line sabotage 

By: Terence Creamer     22nd February 2019 Transnet Freight Rail (TFR) has set up a war room together with the South Africa Police Service (SAPS) in a bid to deal with a surge in infrastructure theft, as well as recent acts of sabotage and vandalism on its key coal corridor from Ermelo, in Mpumalanga, to Richards Bay, in KwaZulu-Natal. On... 

Poland orders Black Hawk helicopters

22nd February 2019 Polish Defence Minister Mariusz Błaszczak has confirmed an order for four Polish-built Sikorsky S-70i Black Hawk helicopters to provide an enhanced capability to Poland’s military branch Special Operations Forces. Production of the aircraft will begin immediately with delivery of all four... 

Energy efficient lighting solution successfully installed

By: Thabi Madiba     22nd February 2019 Luminaires and glass-fibre-reinforced polyester poles manufacturer BEKA Schréder is proud to have worked with consulting engineers and project managers firm Bicon Consulting Engineers, consultant company WSP, and information technology specialists RM Consulting in providing a successful energy... 

Promising growth in construction sector brings hope for 2019

By: Halima Frost     22nd February 2019 Despite the contribution of the construction sector to local economic activity being inconsistent, and having decreased significantly over the years, Constructional Engineering Association (CEA) executive director Anthony Boy is hopeful that there will be an upturn in investments in the sector... 

Rules of origin facilitator

By: Riaan de Lange     22nd February 2019 Talk about a powerful international trade trilogy alliance. You simply do not get a more powerful alliance than the World Customs Organisation (WCO), the World Trade Organisation (WTO) and the International Trade Centre (ITC), which have banded together to develop and launch the Rules of Origin... 

Wieland SA

22nd February 2019 Wieland SA celebrates 45 years of supplying high-quality, semi-finished copper and copper alloy products to the local and export markets.  

Imaloto independent power producer coal-fired power plant project, Madagascar

By: Sheila Barradas     22nd February 2019 Bushveld Minerals subsidiary Lemur has completed the review of the bankable feasibility study on the project. 

Productivity improvements, higher prices lift Anglo American’s FY18 Ebitda to $9.2bn 

By: Marleny Arnoldi     21st February 2019 Continued productivity improvements in underlying operations and better-than-expected prices have contributed to global diversified miner Anglo American’s 4% year-on-year increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to $9.2-billion for 2018. CE Mark... 

VWSA to reach record production this year, says Schäfer

By: Irma Venter     20th February 2019 Volkswagen Group South Africa (VWSA) should this year produce a record number of vehicles at its Uitenhage plant, in the Eastern Cape, says CEO Thomas Schäfer. He says the local arm of the German car maker should produce 161 900 vehicles, of which 108 000 are scheduled to be exported. 

Govt revises contingency reserve to support cash-strapped SoEs 

By: Simone Liedtke     20th February 2019 With State-owned entities (SOEs) posing very serious risks to the fiscal framework, Finance Minister Tito Mboweni on Wednesday said that National Treasury was “taking very serious steps to fix the fiscal position and SoEs”. With funding requests from South African Airways (SAA), the South... 

Regional development focus necessary for Africa’s energy future – panel

By: Marleny Arnoldi     19th February 2019 A number of trends and influences are driving change in the energy sector, with the collective drive towards a safer, more environment-friendly, reliable and sustainable future. Leading a panel discussion at the Africa Energy Indaba, on Tuesday, Strategic Concepts chairperson Sean Cleary said the... 

Price premiums boosting quality-focused Kumba Iron Ore  

By: Martin Creamer     19th February 2019 South Africa’s Kumba Iron Ore, which stands head and shoulders above its peers when it comes to iron-ore quality, is achieving major price premiums well above historical heights. Structural change and strong growth in particularly the China steel market has placed the Anglo American group company... 

Load-shedding 'extremely dangerous' to local auto sector, warns Naamsa chairperson 

By: Irma Venter     19th February 2019 Load-shedding is “extremely dangerous” to the local automotive industry, says Toyota South Africa Motors (TSAM) president and CEO Andrew Kirby. Kirby is also chairperson of the National Association of Automobile Manufacturers of South Africa (Naamsa). 

Electra Mining Botswana recognised as essential industry trade platform

By: Creamer Media Reporter      19th February 2019 Now in its 4th edition, the country’s leading mining, industrial and power generation expo returns in September together with the recently launched A-OSH Expo Botswana. Taking place at the Gaborone Fairgrounds from 10-12 September, this will be an all-encompassing event showcasing the latest... 

Africa must have clear plan for using its gas reserves

By: Marleny Arnoldi     18th February 2019 It is vital that Africa has a clear and cohesive vision in place for how it plans to use its gas reserves, says New Partnership for Africa's Development Business Foundation senior project manager John Rocha. Speaking at the Africa Gas Forum, on Monday, he pointed out that African countries have... 

There’s liquidity in gas

18th February 2019 Mozambique is no stranger to mega-projects with large foreign direct investments dating back to the 90’s. Mozambique, through its National Oil Company, has again partnered with International Oil Companies for the development of gas resources discovered in offshore Mozambique. RMB’s Oil and Gas... 

Pioneer Foods four months revenue up 7.8%, buoyed by UK price inflation in UK

By: African News Agency      15th February 2019 Pioneer Foods said on Friday its turnover increased by 7.8% in the four months to 31 January, primarily driven by price inflation in bread, wheat flour, rice, export fruit and a sound volume growth in these products and breakfast cereals in the UK. The owner of brand names such as Weet-Bix,... 

Re-evaluation of SA’s mineral beneficiation strategy urged amid slow progress

By: Paige Müller     15th February 2019 Amid slow progress in realising South Africa’s mineral beneficiation strategy – as set out in the Department of Mineral Resources (DMR) 2011 policy document – mining industry participants, analysts and experts are re-evaluating the feasibility of mineral beneficiation as a growth trajectory path.... 

Rubber company to focus on automotive sector

By: Cameron Mackay     15th February 2019 Premium rubber products manufacturer Hudson Rubber plans to focus on the localisation of rubber products for the automotive sector this year. Following its merger with rubber retail and wholesale specialists Pro-Auto Rubber’s manufacturing operation in November 2016, the most significant... 

Energy capacity shortfalls stunting Africa’s industrialisation efforts

By: Paige Müller     15th February 2019 Insurance company the Export Credit Insurance Corporation of South Africa (ECIC) says there are significant shortfalls and backlogs in Africa’s installed energy capacity, which is stunting the continent’s efforts to industrialise and expand its local economies. ECIC COO Mandisi Nkuhlu stresses... 

Ford production expansion, South Africa

By: Sheila Barradas     15th February 2019 Ford’s Silverton vehicle assembly plant, in Pretoria, has started production of the refreshed 2019 Ford Ranger. 

Local manufacturers to benefit from Mining Charter 3's implementation 

By: Nadine James     14th February 2019 Mining Charter 3 and its Implementation Guidelines have created an environment where it is possible for local manufacturers to leverage procurement capacity to drive transformation, Department of Mineral Resources representative Xolile Mbonambi said at a breakfast held at the Industrial... 

Gold, operational costs drag down South Africa’s December mining production

By: Marleny Arnoldi     14th February 2019 South Africa’s mining production decreased by 1.6% year-on-year in 2018, following a 3.9% year-on-year increase in 2017 and a decrease of 3.7% year-on-year in 2016, Statistics South Africa (Stats SA) revealed on Thursday. In December, mining production decreased by 4.8% year-on-year, with the... 

South32 finalising preferred list of coal mine bidders 

By: Martin Creamer     14th February 2019 The complete preferred list of bidders for South32’s energy coal interests is still being finalised, South32 CEO Graham Kerr told Mining Weekly Online on Thursday, when he also provided three reasons why the company’s Australian manganese operations are doing better than its South African... 

Luxembourg Protocol can save South Africa billions – Rail Working Group

By: Natasha Odendaal     14th February 2019 The adoption of the Luxembourg Rail Protocol to the Cape Town Convention on International Interests in Mobile Equipment is expected to be a game changer for South Africa, said Rail Working Group chairperson Howard Rosen on Thursday. The treaty, which is expected to enter into force late in 2019,... 

Lemur completes review of power BFS for Imaloto project

By: Tasneem Bulbulia     13th February 2019 Bushveld Minerals subsidiary Lemur has completed the review of the bankable feasibility study (BFS) for the power aspect of its Imaloto integrated thermal coal mining and independent power producer (IPP) project, in Madagascar. It has also issued a request for proposals for legal advisory... 

Jemena wins licence for 40 TJ/d gas plant

By: Esmarie Iannucci     13th February 2019 The Queensland government has issued infrastructure provider Jemena a licence to start construction of a domestic-only gas processing plant. The plant is part of Jemena’s A$140-million Atlas gas pipeline project, which will create 150 jobs and connect Project Atlas to the Wallumbilla Gas Hub in... 

Livent's lithium woes in China cloud industry outlook

By: Reuters     13th February 2019 Livent on Tuesday forecast a drop in Chinese lithium sales for the year because of uncertainty about the country's electric vehicle subsidies, a worrisome sign for other producers of the key battery component. The Philadelphia-based company, among the first major global lithium producers to post... 

Russia's central bank to pay less for domestic gold from May

By: Reuters     11th February 2019 Russia's central bank will pay less than an industry benchmark for gold that it buys on the domestic market, it said on Monday. The central bank said that from May 1 it would add a discount to a purchase price currently based on the daily London Bullion Market Association (LBMA) gold price. The... 

As ice melts, Greenland could become big sand exporter - study

By: Reuters     11th February 2019 Greenland could start to export sand in a rare positive spinoff from global warming that is melting the island's vast ice sheet and washing large amounts of sediment into the sea, scientists said on Monday. Mining of sand and gravel, widely used in the construction industry, could boost the... 

South Sudan to return to pre-war oil production levels by mid-2020 – Minister

By: Reuters     11th February 2019 South Sudan will return to producing more than 350 000 bbl/d of crude by the middle of 2020, up from current levels of just over 140 000 bbl/d currently, the country's oil minister said on Sunday. Production is expected to rise to 270 000 bbl/d by the end of 2019, Oil Minister Ezekiel Lul... 

Metals, engineering sector set for third consecutive year of growth – Seifsa  

By: Tasneem Bulbulia     8th February 2019 The metals and engineering sector is set to grow for the third consecutive year in 2019, despite the past year having been generally challenging for both the global and domestic economies. This is according to the Steel and Engineering Industries Federation of Southern Africa (Seifsa), which... 

Consol marks third year of production growth at Pennsylvania mines

By: Creamer Media Reporter      8th February 2019 NYSE-listed Consol Energy’s production and sales have hit a new record in 2018, marking three consecutive years of production growth at the Pennsylvania mining complex (PAMC). Sales from PAMC increased by seven-million tons in the fourth quarter, generating revenue of $49.81/t, compared with... 

RioZim halts output as central bank fails to make payments

By: Bloomberg     8th February 2019 RioZim halted production at its three gold mines after Zimbabwe’s central bank failed to provide foreign currency the company needs to keep operating. The shutdown is the second by RioZim since October. It’s the latest indication of how businesses are struggling to keep going as a dearth of... 

Australia's Pacific National says coal train derailed, services disrupted

By: Reuters     8th February 2019 Australian coal haulier Pacific National said on Thursday that one of its trains derailed near the Hunter Valley in New South Wales and that some services would be affected while repair work was carried out. The Hunter Valley is Australia's top thermal coal-producing region and home to... 

Naamsa projects 1% increase in new-vehicle sales

By: Thabi Madiba     8th February 2019 The National Association of Automobile Manufacturers of South Africa (Naamsa) projects a marginal increase in new-vehicle sales of 1.0% for 2019, premised on the assumption that South Africa will not be downgraded and a modest increase in gross domestic product (GDP) to about 1.5%, says Naamsa... 

Ethiopia and Eritrea announce plans for new rail link

By: John Muchira     8th February 2019 Ethiopia and Eritrea have announced plans to building a railway line connecting the Ethiopian capital city of Addiss Ababa and the port of Massawa, in Eritrea. According to Ethiopian Prime Minister Abiy Ahmed, Italy has pledged to finance a feasibility study for the planned 736 km railway line... 

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