R/€ = 15.73 Change: -0.10
R/$ = 13.84 Change: -0.12
Au 1281.31 $/oz Change: -12.55
Pt 794.99 $/oz Change: -8.87

Press Office - 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.


India restricts private mineral sands exports

By: Ajoy K Das     31st August 2018 In a bid to stop illegal mineral sand exports from the country, the Indian government has decided to canalise all exports of such minerals through State-run Indian Rare Earths Limited (IREL), effectively banning all private mineral sand miners from making overseas shipments. Canalising exports... 

Mining could attract additional R122bn investment over next four years, if policy improves – MCSA

By: Nadine James     31st August 2018 The mining sector could attract an additional R122-billion worth of investment if the policy perception and environment improved to the top quarter of the Fraser Institute’s Policy Perception Index, rather than its current position in the lower quartile, Minerals Council South Africa (MCSA)... 

Battery Minerals sits on $10bn worth of vanadium in Mozambique

By: Esmarie Iannucci     31st August 2018 Graphite developer Battery Minerals is looking at ways to exploit the near $10-billion worth of vanadium contained in its assets in Mozambique. Battery Minerals MD David Flanagan on Friday told delegates at the Africa Downunder conference that the tailings that would be produced from its... 

CSIR Aeronautics attracting international clients as SA budgets fall

By: Rebecca Campbell     31st August 2018 The Council for Scientific and Industrial Research (CSIR) Aeronautics Systems Competency has created an innovation team to address both emerging opportunities and problems in the global aerospace environment. (“Innovation team” is a description, not a title.) This amounts to the creation of a new... 

Spotlight on CTC and potential legal inconsistencies

By: Jessica Oosthuizen     31st August 2018 The Cape Town Convention (CTC) on International Interests in Mobile Equipment is receiving a lot of attention from the legal industry in terms of how South Africa has incorporated it and how certain remedies provided for therein are enforced in the aviation industry, says global law firm Norton... 

CSIR Aeronautics attracting international clients as SA budgets fall

By: Rebecca Campbell     31st August 2018 The Council for Scientific and Industrial Research (CSIR) Aeronautics Systems Competency has created an innovation team to address both emerging opportunities and problems in the global aerospace environment. (“Innovation team” is a description, not a title.) This amounts to the creation of a new... 

Record production anticipated at BMW’s Rosslyn plant in 2019

By: Irma Venter     30th August 2018 Production at BMW Group South Africa’s (BMW SA’s) Rosslyn plant could, potentially, reach a new record in 2019. BMW SA started production of its first X3 models in April, following a R6.2-billion investment to move from 3 Series sedan assembly to building the new X3 sports-utility vehicle. 

South African winemakers look to Peru for growth

By: Marleny Arnoldi     30th August 2018 Wine producer La Ric Mal owner and winemaker Malcolm Green and other wine producers from four South African provinces will travel to Lima, Peru, this weekend, with the aim of expanding the market for South African wines. This expedition forms part of the Trade and Investment Mission organised and... 

KZN Manufacturing Indaba 2018 Primes Manufacturers for Success

30th August 2018 Prime movers and participants of the nation’s manufacturing sector attended the Kwazulu Natal Manufacturing Indaba  in record numbers at the Durban International Convention Centre (ICC) on the 22 August 2018. The annual event assembled provincial manufacturers and businesses to explore growth... 

MinRes restarts ops at Yilgarn after wrapping up Cliffs deal

By: Esmarie Iannucci     30th August 2018 ASX-listed Mineral Resources (MinRes) has restarted operations at its Yilgarn operations after completing the acquisition of US group Cleveland-Cliff’s Koolyanobbing iron-ore operation, in Western Australia. The two companies in June this year struck a sales agreement over the Cliff’s tenements... 

South African farmers play chicken with Trump tariffs

By: Reuters     29th August 2018 Herman Pretorius is just the kind of white South African farmer US President Donald Trump expressed concern for when he barged into the country's delicate land reform debate by ordering an investigation into the "large-scale killing of farmers". But for the greying, bespectacled 58-year-old,... 

VECV launches heavy-duty Eicher trucks, mulls bus entry

By: Irma Venter     29th August 2018 VE Commercial Vehicles (VECV) South Africa, a Volvo Group and Eicher Motors joint venture, has entered the domestic heavy-duty truck market, with the start of sale of its Pro 6000 series trucks. This will add to the Pro 3008 8.5 t gross vehicle mass (GVM) truck range introduced when the company... 

Air quality control solutions balance social and environmental needs

29th August 2018 Coal-fired power generation remains an important component of Africa’s energy landscape. Air-quality control solutions are key to preserving clean air and quality of life, says Webb Meko, Business Development Director, Sub-Saharan Africa, Black & Veatch Johannesburg, 21 August 2018 – According to... 

Chinese, Russian-owned companies place binding bids for Serbian copper mine

By: Reuters     28th August 2018 China's Zijin Mining and Russian-owned U Gold have sent valid bids for a strategic partnership in RTB Bor, Serbia's only copper mine and smelter, Mining and Energy Minister Aleksandar Antic said on Tuesday. In July, Belgrade invited bids for a partner to invest at least $350-million in... 

Manufacturers continue to invest, despite tough market conditions

By: Simone Liedtke     28th August 2018 With tough economic conditions continuing to impact on manufacturers, the Manufacturing Circle Investment Tracker (MCIT) index for the second quarter of 2018 saw a marginal decrease from 59 index points to 58. Despite this marginal decrease, Manufacturing Circle (MC) executive Philippa Rodseth... 

Coal suppliers urged to put South Africa first 

By: Kim Cloete     28th August 2018 Public Enterprises Minister Pravin Gordhan has suggested that Parliament call in some of the big and small coal suppliers to account for their export of coal, amid increasing concerns about the shortage of coal in the country. Gordhan was speaking after several Members of Parliament suggested... 

Gulf welcomes cornerstone investor

By: Esmarie Iannucci     28th August 2018 ASX-listed Gulf Manganese has secured a A$10.8-million cornerstone investment from Indonesian business man Bapak Dato Dr Low Tuck Kwong in exchange for a 19.8% equity holding in Gulf. Gulf on Tuesday said that it would issue more than 714.59million shares to Bapak TK Low at a placement price of... 

Agricultural organisations commit to developing national strategy

By: Simone Liedtke     27th August 2018 The presidents of the African Farmers Association of South Africa (Afasa), the National African Farmers Union of South Africa (Nafu SA), Agri SA and the Transvaal Agricultural Union of South Africa (Tau-SA), as members of the Agri Sector Unity Forum (Asuf), on Monday declared their intent to work... 

Black industrial powerhouse backs large-scale roll-out of cutting-edge mechanised mining technology

By: Creamer Media Reporter      24th August 2018 Southern Palace Group of Companies through its subsidiary Genrec Engineering,, has put in motion ambitious plans to position South Africa as a leading hub for mining solutions research and development (R&D), as well as manufacturing. Renowned industrialist, Sello Mahlangu, is the founder and... 

Southern Palace accelerating mining technology development in South Africa

By: Marleny Arnoldi     24th August 2018 Southern Palace Group of Companies has, through its subsidiary Genrec Engineering, put ambitious plans in motion to position South Africa as a leading hub for mining solutions research and development, as well as manufacturing. Genrec’s factory, in Wadeville, is undergoing significant upgrades... 

Auto thought leader on need to build Tier 2 and 3 suppliers as local content falls

By: Irma Venter     24th August 2018 The South African automotive industry is eagerly awaiting the announcement of the details of government’s new support programme, the Automotive Masterplan, which is set to guide the industry’s investment activities from 2020 to 2035. The masterplan will perhaps be South Africa’s most challenging... 

African cacao-producing country starts making top-quality chocolate

By: Rebecca Campbell     24th August 2018 Cooperation between a South African and a British business has resulted in the establishment of the first ever chocolate factory in the West African island state of São Tomé e Príncipe. The enterprises are HBD Venture Capital (HBD standing for “Here Be Dragons”), an enterprise of South African... 

Ford produces 500 000th Ranger in South Africa

By: Schalk Burger     24th 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,” says Ford... 

Veolia opens export-competitive factory in Ekurhuleni 

23rd August 2018 Veolia Water Technologies South Africa has opened a chemical production facility in Pomona, Kempton Park that is set to export to Veolia’s clients throughout Africa, owing to its competitive costs of production compared with other Veolia chemical production facilities. 

DTI commits to increasing export council funding

By: Marleny Arnoldi     22nd August 2018 The Department of Trade and Industry (DTI) has committed to increasing funding to the export councils to drive the transformation agenda in different sectors. The commitment emanated from the export councils meeting that was hosted by DTI director-general Lionel October, in Pretoria.  

Poultry group seeks to suspend US import quota

By: Reuters     21st August 2018 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... 

Study initiated to assess conversion of Kelvin power station from coal to gas

By: Terence Creamer     21st August 2018 A $1.3-million feasibility study has been initiated into the prospect of converting the coal-fired Kelvin power station, east of Johannesburg, into a 450 MW to 600 MW gas-fired power station. The study will also assess the potential for developing the Kelvin site into a gas distribution hub for... 

Three companies from Canada, China, Russia bid for Serbian copper mine

By: Reuters     21st August 2018 Three companies have placed bids for a strategic partnership in RTB Bor, Serbia's only copper mine and smelter, the Economy Ministry said. In July, Serbia's government said it was seeking a partner to invest at least $350-million in debt-laden RTB Bor, but did not say how big a stake it would... 

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... 

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