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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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For State of American coal, look at West Virginia's mining stats

By: Bloomberg     6th July 2018 No place tells the story of America’s coal markets better than West Virginia right now. According to US government estimates released Thursday, mining in the northern half of the Mountain State – the part known for its bounty of thermal coal, used to fuel US power plants – slid 7% in the first... 

Installation of water metering system complete

By: Donald Makhafola     6th July 2018 Utility management company Bosch Munitech in March completed the design and installation of a metering and monitoring system to manage water consumption for the Lower Berg River Irrigation Board, in the Western Cape. The company was appointed last year in November to install the Krohne Waterflux... 

Products facilitate cleaner, safer environments

By: Tasneem Bulbulia     6th July 2018 With dust legislation encouraging awareness of dust repercussions, chemical solutions provider Chryso Southern Africa (Chryso) and its subsidiary a.b.e are providing a range of dust suppression technologies to help reduce the effects of dust, Chryso CEO Norman Seymore tells Engineering News. “We... 

Seifsa expects 1.7% expansion in local steel industry

By: Erin Steenhoff-Snethlage     6th July 2018 Following its initial forecast of a 1.1% expansion of the metals and engineering cluster at the beginning of the year, the Steel and Engineering Industries Federation of Southern Africa (Seifsa) says upon review, preliminary data now suggest a 1.6% expansion of the sector, with all sub-industries... 

Africa expansion can boost local industry growth

By: Erin Steenhoff-Snethlage     6th July 2018 With South Africa being under new leadership since Cyril Ramaphosa became president, Alberton-based steel supplier and value-added processing company Allied Steelrode executive director Warne Rippon says that policy direction now finally appears to be heading in a positive and clear direction,... 

Exxaro goes digital at new Mpumalanga coal mine

By: Anine Kilian     5th July 2018 Diversified resources company Exxaro Resources on Thursday broke ground on its R3.3-billion “smart” Belfast mine, in Mpumalanga. The mine is the first of its kind in South Africa and will have a digital twin – a complete digital replica of the mine that will allow management and the contracted... 

Freight capacity growth continues to outstrip demand growth – Iata

By: Marleny Arnoldi     5th July 2018 Global air freight capacity growth outstripped demand growth for the fourth month in a row in May, the International Air Transport Association (Iata) reports.  

Emirates Global Aluminium signs bauxite supply contract with Vedanta

By: Marleny Arnoldi     4th July 2018 Industrial company Emirates Global Aluminium (EGA) has signed an agreement to supply metals miner Vedanta Limited with bauxite from its mining operation in Guinea from 2019.  

Wacker Neuson welcomes Powerdek to its dealer network!

4th July 2018 Wacker Neuson South Africa recently welcomed long-standing customer and industrial power tools and accessories specialist, Powerdek, into its fold. The partnership was formalised with the signing of the dealer agreement during an intimate gathering of customers and staff on 28th June 2018. The... 

KLT’s community partnerships in South Africa recipe for meeting global production standard

By: Anine Kilian     3rd July 2018 India-based automotive component manufacturer KLT Automotive and Tubular Products South Africa plans to add 1 000 people to its 900-strong work force in the next eight years. The company has a major contract with the Ford Motor Company of Southern Africa (FMCSA) for the Ford Ranger, and... 

Decrease in June PMI a ‘cause for concern’ – Seifsa

By: Simone Liedtke     3rd July 2018 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) is concerned about the general dip in overall business activity in the broader manufacturing sector as reflected in the composite Absa Purchasing Managers’ Index (PMI), which was released on Monday. Seifsa economist... 

Ramaphosa concludes Mauritania visit, returns home

By: African News Agency      3rd July 2018 President Cyril Ramaphosa has returned home after a working visit to Nouakchott, in Mauritania where he participated and led the South African delegation at the 31st Ordinary Session of the African Union (AU) Assembly of Heads of State and Government, the Presidency said on Tuesday. The AU Summit... 

Manufacturing recovery hopes dampened as Absa PMI declines further 

By: Marleny Arnoldi     2nd July 2018 The seasonally adjusted Absa Purchasing Managers’ Index (PMI), compiled by the Bureau for Economic Research, fell further below the neutral 50-point mark in June, shedding 1.9 points to 47.9 points. This compares with 49.8 points in May and is the lowest level since March, when the PMI measured... 

Toyota shares 800 localisation opportunities with South African suppliers

29th June 2018 The Durban Automotive Cluster (DAC) was pleased to attend the Toyota South Africa Motors (TSAM) International Multipurpose Vehicle (IMV) Imported Parts Exhibition held on 21 June 2018 in Durban. Over 40 suppliers viewed over 800 components that are open to localisation in what TSAM calls their... 

Veolia's new South African chemical production facility offers improved cost competitiveness

By: Schalk Burger     29th June 2018 The new 6 600 m2 chemical production facility of multinational Veolia Water Technologies South Africa, which opened in Pomona, Kempton Park, on Thursday, is the main blending facility for the company’s local operations, and is also set to export to Veolia’s clients throughout Africa, owing to its... 

Think demand

By: Terence Creamer     29th June 2018 At any gathering where South Africans convene to deliberate on the country’s economic predicament, one well-worn narrative will inevitably arise. It begins with the statement that South Africa is endowed with natural resources that are second to none. What follows is a lamentation about the fact... 

Unbundling Eskom

By: Terry Mackenzie-hoy     29th June 2018 It should be evident to everybody that State-owned electricity utility Eskom is in the following condition: (a) The road transport coal supply contractors have for years been ripping off the system – the trucks get loaded with good-quality coal, which is driven to an export depot. They then pick... 

Atlas attributed no value to NWI interest

By: Esmarie Swanepoel     28th June 2018 ASX-listed Atlas Iron on Thursday said that the company had attributed no value to its interest in the North West Infrastructure (NWI) joint venture, or its intention to develop export capacity at the port of Port Hedland. Atlas was responding to a query from shareholder Fortescue, which urged... 

Unlocking the Potential in Aluminum can Revolutionize the World

28th June 2018 Aluminum has changed the face of the planet in the 20th century. As we unlock the potential of this abundant metal, our lives are on the fringe of an imminent revolution. We cannot imagine our current lifestyle without one particular element, aluminum. While steel and iron were the foundation... 

Universal beats FY18 expectations

By: Esmarie Swanepoel     28th June 2018 South Africa focused coal producer Universal Coal on Thursday told shareholders that attributable earnings before interest, tax, depreciation and amortization (EBITDA) was 28% higher for the 2018 financial year, compared with the previous half year guidance. Group EBITDA for 2018 is expected to... 

Transnet prepares for annual coal line shutdown

By: Anine Kilian     27th June 2018 Plans are at an advanced stage for State-owned Transnet Freight Rail to embark on its annual shutdown of the coal export line, which is scheduled to take place from July 2 to 11. “The shutdown is an annual exercise carried out around this time to ensure that the company tackles its maintenance... 

IEA sees gas demand growth of 1.6% a year, China to become largest importer

By: Esmarie Swanepoel     27th June 2018 A new report by the International Energy Agency (IEA) has shown that global gas demand will grow at an average rate of 1.6% a year, reaching just more than 4.1-trillion cubic metres in 2023. This forecast compares with demand of 3.74-tillion cubic metres in 2017, the IEA noted in its ‘Gas 2018’... 

Nickel market deficit increases, but surplus expected by 2020 – BMI

By: Marleny Arnoldi     26th June 2018 BMI Research anticipates the global refined nickel market to remain in a slight deficit this year, as global production remains subdued.  

Strong rand to impact on Kumba's interim earnings

By: Creamer Media Reporter      25th June 2018 Kumba Iron Ore says the stronger rand and lower export iron-ore prices negatively impacted on its headline earnings and earnings for the six months to June 30. In a trading update on Monday, the iron-ore miner said its headline earnings and earnings are likely to be at least R921-million and... 

Barrick’s talks with Tanzanian govt progressing

By: Marleny Arnoldi     25th June 2018 Canadian gold miner Barrick Gold Corporation says progress has been made in discussions between the company and the Tanzanian government on the drafting of definitive agreements that are necessary for the implementation of proposed framework agreement with Barrick’s 63.59% owned and independently... 

On-The-Air (22/06/2018) 

By: Martin Creamer     22nd June 2018 Coal exporters can look forward to faster turnaround times at the Richards Bay Coal Terminal, following the commissioning of a brand new suite of equipment. South Africa’s secretive Department of Mineral Resources needs to subject itself to independent transparency evaluation and to set reform... 

AEMO sees no gas supply gaps to 2030

By: Esmarie Swanepoel     22nd June 2018 The latest Gas Statement of Opportunities (GSOO) by the Australian Energy Market Operator (AEMO) has found that market intervention, new supply and lower demand have avoided a potential energy shortfall. The AEMO in late 2017, warned of a substantial shortfall in gas for the east coast of... 

Delegation seeks partnerships with food and beverage industry

By: Melissa Zisengwe     22nd June 2018 Last month, the German VDMA Food Processing and Packaging Machinery Association held a symposium in Johannesburg, South Africa, for a delegation of 13 high-profile and diversified member companies to present their products and services to the South African food processing and packaging industry.... 

Strong attendance growth at Fastener Fair Turkey 2018

22nd June 2018 Exhibitors at the fourth edition of the Fastener Fair Turkey 2018 welcomed high calibre Turkish and international visitors for three days, with a total of 2 900 managers, engineers and buyers visiting the event. This represents an impressive 70% growth, compared with the 2016 show. 

Plans afoot to pilot project to bring broadband connectivity to rural Uganda

By: Natasha Odendaal     22nd June 2018 Internet service provider iWayAfrica and off-grid renewable energy operator and technology integrator Winch Energy are preparing to embark on a pilot programme to bring high-quality, affordable broadband connectivity to five rural communities in Uganda. The companies will deploy ‘The Winch Hub’,... 

Barossa project to backfill Darwin liquefied natural gas plant, Australia

By: Sheila Barradas     22nd June 2018 Santos has awarded three major engineering contracts on the front-end engineering and design phase of its Barossa offshore project. 

Wheatstone liquefied natural gas project, Australia

By: Sheila Barradas     22nd June 2018 Production from the second train at the project has started. 

Rethinking the value of infrastructure in South Africa

21st June 2018 Mathieu du Plooy, Managing Director of WSP, Africa The National Development Plan (NDP) notes that to “achieve sustainable and inclusive growth by 2030, South Africa needs to invest in a strong network of economic infrastructure”. And, as we are a little more than a decade away from the targets... 

Current account deficit widens in Q1 as exports slump

By: Reuters     21st June 2018 South Africa's current account deficit widened more than expected in the first quarter to register its largest shortfall in two years as the trade balance swung to a deficit after a steep decline in exports, the central bank said on Thursday. Investor sentiment in South Africa picked up after... 

Sheffield finds buyer for Thunderbird ilmenite

By: Esmarie Swanepoel     21st June 2018 Mineral sands developer Sheffield Resources has inked a maiden ilmenite offtake agreement for its Thunderbird project, in Western Australia. The company on Thursday told shareholders that the five-year agreement with Bengbu Zhongheng New Materials will see the company supply 150 000 t of... 

The South African pharmaceutical regulatory environment

20th June 2018 The South African pharmaceutical environment is highly regulated. The most important legislative provisions are found in the Medicines Act and the Pharmacy Act. Recent amendments to the Medicines Act brought about the replacement of the Medicines Control Council, being the regulatory body that... 

South Africa's GDP growth expected to hit 1.7% in 2018

By: Reuters     20th June 2018 South Africa's economy is expected to recover from a poor start this year, rescued by stronger growth in the rest of the world, a Reuters poll found on Wednesday. South African gross domestic product shrank 2.2% in the first quarter, led by a slowdown in agriculture and mining, after expanding... 

Asia's thermal coal demand poised to grow

By: Esmarie Swanepoel     19th June 2018 Asia’s thermal coal demand could increase by some 400-million tonnes by 2030, a new report commissioned by the Minerals Council of Australia (MCA) found. Asian thermal coal demand is expected to grown from the 740-million tonnes in 2017, to 1.147-billion tonnes in 2030. 

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