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New Era Newspaper Thursday July 6 2017

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12 Inside BUSINESS

12 Inside BUSINESS Thursday, July 6 2017 | NEW ERA Mineworkers’ union vows to fight planned AngloGold Ashanti retrenchments CAPE TOWN The National Union of Mineworkers on Wednesday announced it would oppose AngloGold Ashanti’s retrenchment notice which could leave as many as 8,500 workers jobless. “The National Union of Mineworkers (Num) AngloGold Ashanti Shaft Stewards Council met today in Carletonville to deliberate on section 189(3) notice issued by AngloGold Ashanti to retrench 8,500 workers in all its South African operations,” the union said in a statement. “The meeting resolved to oppose the planned retrenchments and will engage relevant government departments and the company in an effort to avoid job losses.” AngoGold Ashanti announced its intention to retrench workers last week Wednesday. Two days later, Mineral Resources Minister Mosebenzi Zwane instructed the Minerals and Petroleum Board to verify whether the information provided by Anglo Gold Ashanti motivating for the retrenchments took into consideration industry commitments to save jobs. AngloGold Ashanti’s South African operations, employs about 28,000 people, including contractors. Zwane met with the chief executive of AngloGold Ashanti, Srinivasan Venkatakrishnan, and his executives on Friday. “We continue to appeal to companies to act responsibly and with sensitivity. These are not just numbers to be thrown around, but people’s livelihoods and future job prospects, and we should not take this matter lightly,” Zwane said at the time. More information on the latest round of retrenchments is expected to be made available after the Commission for Conciliation, Mediation and Arbitration (CCMA) appoints a facilitator for the process in terms of the Labour Relations Act. Anglo Gold Ahsnati wants to place on care and maintenance the Kopanang mine in the Vaal River region, and the Savuka section of the TauTona mine, in the West Wits Region. Savuka has been in operation for 59 years, and has already been extended 10 years beyond its natural life. Kopanang Mine produced its first gold in 1981, 36 years ago. – Nampa/ANA Cape Town AMENDMENT TO THE ENVIRONMENTAL IMPACT ASSESSMENT (EIA) FOR MR44 SWAKOPMUND – HENTIES BAY AND MR76 HENTIES BAY – UIS: PHASE 1 ROAD UPGRADE PROJECT IN THE ERONGO REGION PUBLIC PARTICIPATION PROCESS Finance Minister Malusi Gigaba has instructed legal counsel to institute judicial review proceedings in a bid to have Public Protector Busisiwe Mkhwebane’s findings and remedial action on Absa Bank and the SA Reserve Bank (Sarb) set aside, his office announced on Wedneday afternoon. In her report titled “Alleged Failure to Recover misappropriated Funds”, released in June, Mkhwebane criticised government and Sarb for failing to recover an apartheidera loan of R1.125 billion from Bankorp Limited/Absa Bank advanced as an “illegal gift” to the Bankorp group. Mkhwebane also directed Parliament to effect a Constitutional amendment to Sarb’s powers. “The basis for the review is that, the remedial action breaches the principle of legality and the findings of fact are not necessarily adequately connected to the evidence which was before the Public Protector,” Gigaba’s office said. “Prior to taking the above decision, the Minister engaged the Public Protector to gain a deeper understanding of the facts and evidence, which underpins some of the findings and conclusions against the Government. This was necessary because the investigation preceded the Minister’s tenure in office.” Applicant: Roads Authority Environmental consultants: Aurecon Namibia Project: Draft Amendment Report of the Environmental Clearance Certificate in order to include the temporary abstraction of seawater during the construction phase. Availability of the Draft Amendment Report (DAR): A hard copy of the DAR is available for review at the following locations; the Aurecon Offices in Windhoek and at the Swakopmund and Henties Bay Public Libraries. Comment period: 6 – 21 July 2017. Legislative requirements: The proposed project triggers activities listed in Appendix B of the Namibian Environmental Policy of 1994, and Activities in Government Notice No 29 of the Environmental Management Act (No 7 of 2007) and therefore an Environmental Impact Assessment process is required. The competent Authority is: MET: DEA. Purpose of the comment period: To afford Interested and Affected Parties (I&APs) an opportunity to comment on the project and to ensure that all issues and concerns are captured and considered in the DAR. Public Participation: I&APs are required to notify Aurecon in writing should they wish to register as an I&AP. Please submit your name, contact information and comments on/ before 21 July 2017 for attention: Ilze Rautenbach, Aurecon, P.O. Box 5353, Windhoek; Tel: 061 297 7000; Fax: 061 297 7007 or Email: Ilze.Rautenbach@ aurecongroup.com Please note that only those who register would be notified of the progress of this EIA Amendment. Gigaba said the decision to seek judicial review was not taken lightly, but was done to protect the independence of the reserve bank. “He has taken the decision primarily to protect the constitutional mandate of the South African Reserve Bank, an important institution created by section 224(1) of the Constitution to ‘protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic’,” the ministry said. “The role of the Reserve Bank is a policy question. Its primary mandate is in the Constitution. There is no intention in the part of the Executive to amend the Constitution in any manner. “ Gigaba has also instructed lawyers to challenge Mkhwebane’s directive that government should take steps, through the Special Investigating Unit, to recover the money from Absa. “The view of the Minister, consistent with the principle of state succession, is that he is bound by decisions taken by his predecessors in this regard. These matters will also form part of the judicial review proceedings to be instituted.” Gigaba joins Absa and Sarb which has instituted review proceedings following the release of Mkhwebane’s report. Absa said it was approaching the High Court due to numerous misrepresentations Livid… Performers smeared with clay demonstrate during the art action “1,000 Gestalten” (1,000 figures) yesterday (July 5) on the streets in Hamburg, northern Germany, where leaders of the world’s top economies will gather for a G20 summit. More than 100,000 anti-capitalist demonstrators, including several thousand leftwing extremists, are expected to descend on the Hanseatic city ahead of the two-day summit which opens on Friday. Photo: Nampa/AFP Government has no intention of amending Constitution on SA Reserve Bank’s mandate and factual inaccuracies which formed the basis of the Public Protector’s findings, and what the bank submits were the “irrational and unreasonable” legal conclusions in the report. Absa said the misconceptions and inaccuracies in the report were profound and damaging to its reputation. “We have accordingly instructed our lawyers to immediately prepare an application to the High Court to have the report and its remedial actions set aside,” Absa said in June. “We deny that Absa received R1.125 billion by way of unlawful assistance and we firmly maintain our position that all of Absa’s obligations to the South African Reserve Bank were met in full by October 1995.” The Public Protector probed allegations that CIEX, a covert United Kingdombased asset recovery agency headed by Michael Oatley, was contracted by Pretoria to assist in investigating and recovering misappropriated public funds and assets allegedly committed during the apartheid regime. Mkhwebane said the South African government had failed to implement the CIEX report because she found no evidence that any action was taken to pursue the CIEX report after government had commissioned and duly paid for its investigation. - NAMPA/ANA) Gigaba to take Public Protector’s recommendation that Absa must pay back money on review CAPE TOWN Finance Minister Malusi Gigaba has instructed legal counsel to institute review proceedings in the high court in a bid to have Public Protector Busisiwe Mkhwebane’s findings and remedial action on Absa Bank and the SA Reserve Bank (Sarb) set aside, his office announced on Wedneday afternoon. In her report titled ‘Alleged Failure to Recover Misappropriated Funds’, released in June, Mkhwebane criticised government and Sarb for failing to recover R1.125 billion from Bankorp Limited/Absa Bank she said was advanced as an “illegal gift” to the Bankorp group. Mkhwebane also directed Parliament to effect a Constitutional amendment to Sarb’s powers. “The basis for the review is that, the remedial action breaches the principle of legality and the findings of fact are not necessarily adequately connected to the evidence which was before the Public Protector,” Gigaba’s office said. “Prior to taking the above decision, the minister engaged the public protector to gain a deeper understanding of the facts and evidence, which underpins some of the findings and conclusions against the government. This was necessary because the investigation preceded the Minister’s tenure in office.” – Nampa/ANA

Thursday, July 6 2017| NEW ERA 13 The new Audi A5 and S5 Cabriolet models. Audi A5 and S5 Cabriolet are now here Staff Reporter Following the recent launch of the all-new Audi A5 Coupe and Sportback, the new Audi A5 Cabriolet has now been introduced to complete the second generation of the A5 family. In the Audi S5 Cabriolet, a new six-cylinder turbocharged engine developing 260kW and 500 Nm of torque ensures top performance. The engine line-up initially comprises two units – a 2.0 TFSI with 140kW, which would only be offered as front-wheel drive, and the 2.0T FSI with 185 kW. Rounding out the initial A5 Cabriolet offering will be the sporty Audi S5 Cabriolet. This model is equipped with a turbocharged, 2995 cc, six-cylinder engine producing 260 kW, which 15 kW more than its predecessor. The sprint from zero to 100 km/h takes 5.1 seconds, while its top speed is limited to 250 km/h. A 2.0TDI engine will be available at a later stage. With the new A5 Cabriolet the designers went with the precise, elegant lines of the Coupé for the shape of the new Audi A5 Cabriolet. The rear window is now flatter and emphasizes the sporty looks, as do the short overhangs and the long wraparound hood with power dome. With a length of 4,673 millimetres, the new A5 Cabriolet is 47 millimetres longer than the predecessor model. Together with the wheelbase, which has been extended by 14 millimetres, and more compact seats, this means more space for the driver and passengers. Shoulder room in the front row of seats has been increased by 26 millimetres and knee room in the rear by The interior of the Audi S5 Cabriolet 18 millimetres. The classic soft top fits perfectly into the athletic design and delivers outstanding aeroacoustics thanks to effective insulation. The new one-touch opening function makes operating the standard acoustic hood much easier: A quick pull of the switch is all it takes to open the soft top fully automatically in 15 seconds or close it in 18 seconds – even while driving up to 50 km/h. Playing a central role here is the adaptive cruise control (ACC) Stop & Go system including traffic jam assist. The ACC uses automatic braking and acceleration to maintain the distance between the A5 Cabriolet and the vehicle ahead. In interplay with the S tronic or tiptronic, it covers the entire speed range from 0 to 250 km/h. The Stop&Go function also brakes the car to a complete stop and lets it start off again automatically at the driver’s request. The traffic jam assist relieves drivers in slow-moving traffic up to speeds of 65 km/h by assuming the tasks of Climate control integration within inlay trim braking and accelerating the car, and on better roads it also temporarily takes charge of steering. The car automatically follows the vehicles ahead, within system limits. The new A5 Cabriolet comes standard with Audi pre sense city. It monitors the road at speeds of up to 85 km/h, detects both other vehicles and pedestrians, and initiates full braking in an emergency. The attention assist is also standard. It analyzes driver behavior and issues a warning when it detects that the driver is becoming inattentive. The speed limiter, a standard feature, can be set to a particular speed ranging from 30 to 250 km/h – a very helpful tool for maintaining speed within city limits or in construction sites, for example. The A5 Cabriolet is now available for the first time with the optional Audi virtual cockpit, a 12.3-inch TFT display with a resolution of 1,440 x 540 pixels. Together with the MMI navigation plus including 8.3-inch monitor on the centre console, it forms the central information unit. The focal point of the MMI terminal is the round rotary pushbutton. The Audi A5 Cabriolet range will be priced as follows, standard with the 5-year/100 000km. The price would start from somewhere north of N0 000 and it would top above N million for those looking to stand out in the crowd.

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New Era Newspaper Vol 22 No 167

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