The COSM Trust
The COSM Trust created a privately owned fund whose beneficiaries are
the exporters of value-added steel products. The objective of the Trust
is to promote the export of products of the secondary steel industry in
South Africa.
Purpose of the COSM Fund
The purpose of the Fund is to promote the development of the
secondary steel industry in South Africa, by means of various
incentives, as an expanding market for locally produced primary steel
products. This expanding market will enhance South Africa's foreign
currency earnings and increase employment opportunities in general and
the secondary steel industry's export potential in particular.
COSM Assistance
An exporter, situated in the Southern African Customs Union, who
adds at least 20% in value to the material input cost of locally
produced primary steel may claim assistance from the Fund.
The current COSM assistance to exporters is R135 per ton
(VAT exclusive) on the net steel content of the manufactured product (From 1 January 2005).
To claim from the Fund
An exporter must register with the Fund to be in a position to
claim assistance from the Fund. The claimant has six months from the
date of export of his value-added product to submit a claim for COSM
assistance.
COSM Rules
The rules of the COSM Trust are available on our website.
Contributors to the Fund
The following primary steel producers contribute financially to the COSM Fund:
ArcelorMittal South Africa Ltd
Cape Gate (Pty) Ltd
Scaw Metals Group
Administrators
The Fund is administered and controlled by the South African Iron and Steel Institute. The COSM Committee governs the Fund.
COSM Trust trustees:
Mr Jaco Roux
Mr Johann Nel
COSM Committee Members:
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Mr Jaco Roux
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Chairman
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ArcelorMittal South Africa Ltd
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Mr Wally van Zyl
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ArcelorMittal South Africa Ltd
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Mr Riaan Sonntag
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Cape Gate (Pty) Ltd
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Mr Chris Booysen
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Scaw Metals Group
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Mr Johann Nel
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Secretary
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SAISI
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SAISI Administration Team:
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Mr Johann Nel
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Financial Manager
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Ms Elizna Swart
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Accountant
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Ms Hannalie Reinecke
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Financial Controller (Verification of claims)
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Ms Adri Steenkamp
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Financial Administrator (Processing of claims)
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Ms Elaine Gunning
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Financial Assistant (Registering of claims and concessions)
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Correspondence should be addressed to:
The Secretary
Committee for Secondary Manufacture
PO Box 6318
PRETORIA
0001
