I can see the thinking... But no it's not a rusty mixer. This one was acid cleaned before the start of the build and had 5 dumpys of gravel and sand through it before we got to this stage so it's nice and clean inside. I'll try to get a better picture of the wall but it's pretty awful outside at the moment.
Whatever it is, it seems to be small 3-4mm blobs which dissolve and then bleed out leaving a streak and a tiny hole.
It's really weird and polluted sand seems to be the most likely cause, the problem is, it's on there now so how is the best way to treat it?
And just to be clear, I provided labouring and materials to save costs, I didn't apply the render, contrary to others views, not in my skill set...