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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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Poultry group seeks to suspend US import quota

By: Reuters     Updated 7 hours ago The South African Poultry Association (SAPA) has filed a legal action to force the government to suspend a quota that excluded imports of US poultry from South Africa's anti-dumping tariff, a senior official with the association said on Tuesday. The decision by SAPA was a response to the Trump... 

China's Tianqi Lithium seeks up to $1bn in Hong Kong listing - sources

By: Reuters     20th August 2018 China's Tianqi Lithium Corp is looking to raise up to $1-billion in its Hong Kong stock market flotation, despite this year's fall in lithium prices, two people close to the deal told Reuters. The company, the world's second largest lithium producer by sales, on Friday filed plans for Hong... 

China sells diesel to South Africa as refiners seek new export markets

By: Reuters     20th August 2018 State-run oil company Sinopec is selling diesel as far afield as South Africa as China's refiners seek homes for their surplus fuel in the latest sign of troubles in the domestic refining business. Sinopec said on Monday it shipped its first 30 000 t of diesel from its Shanghai refinery heading... 

Toyota aims to increase exports into Africa as market recovers

By: Irma Venter     17th August 2018 Toyota South Africa Motors (TSAM) aims to export 100 000 vehicles a year from its Durban plant, says president and CEO Andrew Kirby. Total plant capacity is 242 000 units a year, which includes a 234 000-unit capacity for the Hilux, Fortuner and Corolla, 13 500 for the Ses’fikile minibus and 5... 

Local company to introduce new plastic pallets

By: Melissa Zisengwe     17th August 2018 Plastic pallets distributer, Premier Pallets will introduce new polyethylene terephthalate (PET) pallets to the market next month. Premier Pallets owner Tilania du Preez says the pallets were manufactured in South Africa from PET plastic bottles such as Coke bottles. 

Investors looking for viable infrastructure projects in Africa

By: Donald Makhafola     17th August 2018 There is investor appetite for well-structured infrastructure projects on the continent, but investors need clarity from governments on regulations and the various projects earmarked for development, says specialist banking company Investec Bank head of power and infrastructure finance... 

Biojet feasibility project under way

By: Paige Müller     17th August 2018 The Waste to Wing feasibility project, aimed at ascertaining the viability of waste-based sustainable aviation biofuel production and consumption in South Africa, is under way, says nature conservation organisation World Wide Fund for Nature South Africa (WWF-SA). WWF-SA bioenergy programme... 

Icon of SA engineering passes away at 97

By: Creamer Media Reporter      17th August 2018 ICON OF SA ENGINEERING PASSES AWAY AT 97 South Africa’s ‘grating man’ Andrew Mentis, founder of steel floor grating specialist Andrew Mentis (Pty) Ltd, passed away on 17 June 2018 in Johannesburg at the age of 97, four days before he would have turned 98. 

Kudu power station project, Namibia

By: Sheila Barradas     17th August 2018 The project has been resized. 

Agni Steel SA expansion project, South Africa

By: Sheila Barradas     17th August 2018 Agni Steel has received authorisation for its phase 2 and 3 expansion plans. 

Grootegeluk boosts Exxaro’s H1 coal output

By: Marleny Arnoldi     16th August 2018 Diversified miner Exxaro Resources’ coal production volumes for the six months to June 30 increased by 7%, or 1.5-million tonnes, compared with that of the second half of 2017. The company on Thursday attributed the increase in overall output to higher production volumes at the company’s... 

Cobalt prices stabilising – ERG

By: Anine Kilian     16th August 2018 The recent price adjustment in the cobalt market represents a logical and short-term correction to the heightened speculative activity earlier this year, says Eurasian Resources Group (ERG) CEO Benedikt  Sobotka. Cobalt metal prices jumped in excess of 120% between 2016 and 2017, a sign of strong... 

PNG legislative changes should be well considered - Chamber

By: Esmarie Swanepoel     16th August 2018 The mining and petroleum industry body in Papua New Guinea (PNG) has called on the government to consider the ramifications of the amendments proposed to the Mining Act. The PNG Chamber of Mines and Petroleum’s president, Gerea Aopi, said that stable government policies and a favourable... 

Indian mining industry seeks tax overhaul

By: Ajoy K Das     16th August 2018 The Indian mining industry has called for a complete overhaul and rationalisation of the tax regime, including scrapping the export tax on iron-ore and bauxite. The Indian mining industry has to bear the burden of one of the highest incidence of tax in the world. Mines allocated through... 

Ford produces milestone 500 000 Rangers in South Africa

By: Schalk Burger     14th August 2018 Ford Motor Company of Southern Africa’s (FMCSA’s) Silverton assembly plant, in Pretoria, has produced its 500 000th Ford Ranger. “The current Ford Ranger has been a remarkable success story for FMCSA, and we are delighted to have reached the 500 000 mark for this vehicle programme,” Ford Middle... 

South African manufacturing sector set to grow

13th August 2018 If recent investments in the manufacturing industry are indicative of the trend going forwards, then the future is looking bright for this often beleaguered market sector. In addition, the South African government recently announced that it was embarking on an offensive to attract $100-billion... 

Lithium and copper tipped as major Australian export drivers

By: Esmarie Swanepoel     13th August 2018 The Reserve Bank of Australia (RBA) has tipped lithium and copper to be the major drivers for commodity exports in Australia, in the next few years. In its August Statement on Monetary Policy, the RBA noted that mineral exploration and mining activity for commodities used in the rechargeable... 

Caledonia achieves marginal increase in Q2 output

By: Anine Kilian     10th August 2018 Caledonia Mining’s 49%-owned Blanket mine, in Zimbabwe, produced 12 657 oz of gold in the second quarter ended June 30, marginally higher than that produced in the second quarter of 2017 and in line with expectations.  “The second quarter was a difficult quarter for the business as production was... 

Four Brics and a briquette

By: Riaan de Lange     10th August 2018 The headline of this article sounds a bit like a 1960s band. A popular music band. A pop band. But, alas, it is no band – it is what should be an honest reflection of what the world knows as Brics, an acronym for Brazil, Russia, India, China, and South Africa. Bric came into existence in 2008 and... 

New-configuration valve creates export potential

By: Halima Frost     10th August 2018 South African thermoplastic valves supplier Astore Keymak has placed an order for about 30 redesigned FK industrial butterfly valves (FK d90) from its Italy-based supplier Formatura Iniezione Polimeri (FIP) Valves, with first shipment expected later this year. The valves will be added to the... 

Blockchain can facilitate development of communal lands

By: Schalk Burger     10th August 2018 Blockchain systems can provide a trusted registry of property ownership in communal lands, which can facilitate their development into productive assets, says Zimbabwean former commercial farmer and former chairman of the National Association of Dairy Farmers Dave Conolly. Conolly is researching... 

Do-it-yourself works for Pratley as it turns 70

By: Schalk Burger     10th August 2018 Full control over raw-material sources, production and packaging, as well as the in-house expertise that this stimulates, enables the Pratley group of companies to develop innovative products, ensure quality control and grow, says Pratley CEO Kim Pratley. The company, which produces a well-known... 

Business Confidence Index gains one index point in July

By: Marleny Arnoldi     8th August 2018 The South African Chamber of Commerce and Industry (Sacci) business confidence index (BCI) improved by one index point in July to measure 94.7, compared with 93.7 in June. However, the BCI remained 0.6 index points below the 95.3 of July 2017. “Whereas the downward momentum of the BCI slowed in... 

Universal's A$18.6m deal advances

By: Esmarie Swanepoel     8th August 2018 The South African Department of Mineral Resources (DMR) has given ASX-listed Universal Coal approval for the transfer of ownership of the Glisa and Eerstelingsfontein mining rights. Universal, through a 49%-owned subsidiary North Block Complex Proprietary (NBC), in March entered into an... 

DA proposes free trade, cost and regulatory reductions to stimulate manufacturing

By: Schalk Burger     7th August 2018 Political party, the Democratic Alliance (DA), on Tuesday proposed increased free trade and reducing regulatory burdens and energy costs to stimulate manufacturing in South Africa. In its policy proposal, ‘Manufacturing a new economic future’, the party states that “an effective trade policy... 

South African manufacturing sector set to grow

By: Creamer Media Reporter      7th August 2018 If recent investments in the manufacturing industry are indicative of the trend going forwards, then the future is looking bright for this often beleaguered market sector. In addition, the South African government recently announced that it was embarking on an offensive to attract $100-billion... 

New Hope buys 40% in Bengalla from Wesfarmers

By: Esmarie Swanepoel     7th August 2018 Coal miner New Hope Corporation has struck an A$860-million deal with fellow-listed Wesfarmers to purchase a further 40% interest in the Bengalla joint venture (JV), in New South Wales. News of the transaction that will increase New Hope’s holding in the project to 80% has lifted New Hope’s... 

Banding & ID Solutions Africa looks to continent for growth

7th August 2018 Banding & Identification (ID) Solutions Africa, in addition to targeting opportunities anticipated to arise locally from new infrastructure build projects, is also seeking to expand its product footprint in neighbouring countries. The South Africa-headquartered company already has distributors in... 

Tanzania wants to build pipeline to pump gas to Uganda

By: Reuters     6th August 2018 Tanzania wants to build a pipeline to pump natural gas to neighbouring Uganda, another step in the two countries' bid to expand energy cooperation. State-run Tanzania Petroleum Development Corporation (TPDC) said on Monday that the pipeline would start from its capital Dar es Salaam, then pass... 

Updated study increases Frieda River mine life, production forecast

By: Esmarie Swanepoel     6th August 2018 The Frieda River copper/gold project, in Papua New Guinea, could produce more copper and gold over a longer period than previously thought, ASX-listed Highlands Pacific reported on Monday. Highlands, which owns a 20% interest in the joint venture (JV) project, told shareholders that partner... 

Free-to-attend seminars to share latest industry insights

By: Creamer Media Reporter      3rd August 2018 Taking place from 10-14 September at the Expo Centre in Nasrec, Johannesburg, visitors to this year’s Electra Mining Africa will not only have the potential of engaging with 900+ exhibitors across the inside halls and outside exhibit areas, they will also have the opportunity to attend daily... 

Electra Mining Africa: five days, five themes

By: Creamer Media Reporter      3rd August 2018 Taking place from 10-14 September at the Expo Centre in Nasrec, Johannesburg, leading players in the mining, manufacturing, electrical and power industries are looking forward to engaging with visitors and sharing information on their latest products, services and solutions. “There will be an... 

Funding for SA firms seeking to increase African trade and investment exposure

By: Schalk Burger     3rd August 2018 Increased trade and interdependence with the rest of Africa are set to bolster the anaemic economy of South Africa through the R13.4-billion Export Credit Insurance Corporation of South Africa (ECIC) and African Export Import Bank (Afreximbank) South African Trade and Investment Promotion... 

Road-rail vehicle innovator introduces RailBus

By: Jessica Oosthuizen     3rd August 2018 Olifantsfontein-based road-rail vehicle (RRV) manufacturer RailPro has developed a bimodal vehicle that transports people and goods on road and rail, says MD Ed Magan. The vehicle, called RailBus, was launched in June. 

Funding for SA firms seeking to increase African trade and investment exposure

By: Schalk Burger     3rd August 2018 Increased trade and interdependence with the rest of Africa are set to bolster the anaemic economy of South Africa through the R13.4-billion Export Credit Insurance Corporation of South Africa (ECIC) and African Export Import Bank (Afreximbank) South African Trade and Investment Promotion... 

French backing for Joburg digital content hub

By: Schalk Burger     3rd August 2018 The Ambassador of France to South Africa Christophe Farnaud at the launch of the Digital Content Hub, in Johannesburg, highlighted the cooperation between South Africa and France on innovation, which is one of the economic priorities of France as articulated by French President Emmanuel Macron.... 

Ichthys liquefied natural gas project, Australia

By: Sheila Barradas     3rd August 2018 The first offshore production well has started. 

Nigeria oil refinery

3rd August 2018 Nigerian business magnate Aliko Dangote has arranged more than $4.5-billion in debt financing for his Nigerian oil refinery project. 

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