Business Coverage Issue 2

1

BUSINESS COVERAGE

ISSUE

2

Featuring Crossrail Project, Translink, Anglogold Ashanti, Brisbane Airport...

There’s nothing new about Automated Manual Transmission trucks. In fact we’ve been telling you about them for years. We pioneered the technology and introduced it into South Africa and through that became the market leader. But it isn’t just sales that have made us number one. It’s our tried and tested history with this technology and it’s how we apply that knowledge through committed after sales service. Think about this when you’re choosing an AMT.

For more information on our latest range call 08600 47898 or visit www.isuzutrucks.co.za

WITH AMT, WE LEAD,OTHERS FOLLOW

McC

annJH

B91

2591

EdiTor’s noTEsWelcome to issue 2 of Business Coverage.

It’s been a pivotal time in the UK and Nigeria, with the public turning out to vote in the general elections, where the issues of business and the economy were as crucial as ever in those political campaigns.We are pleased to feature the second part of our in-depth feature on the Crossrail Project, Europe’s largest infrastructure project being constructed in England’s capital city.A newly constructed train line will run for over 100 kilometres from Reading and Heathrow Airport to the west of London through the centre of the city and out to Essex and southeast London. It will add 10% to the capital’s rail capacity and bring an extra 1.5 million people within 45 minutes commute of central London. Elsewhere, we feature Northern Ireland’s public network Translink and City of Toronto, where we uncover bold plans for one of the world’s most metropolitan cities.

Enjoy the issue.

OKM Media Ltd, 66 Prince of Wales Road, Norwich NR1 1LT

PuBlishEr OlIVER MOy [email protected] SAM WOOd [email protected]

hEAd of rEsEArCh ABI ABAGUN [email protected] of rEsEArCh SAM HUSSEIN [email protected]

hEAd of rEsEArCh CyNtHIA FAll [email protected]

BUSINESS COVERAGE

ContEntS

ContEntSEUropE6 - 11 News Stories12 Crossrail Project22 Translink

nortH AMErICA28 - 33 News Stories34 City of Toronto

45 Events

AFrICA46 - 51 News Stories52 Anglogold Ashanti

AUStrALIA58 - 61 News Stories62 Brisbane Airport70 City of Sydney

BUSINESS COVERAGE Issue 2

EUROPE nEws sToriEs

Irish airline Ryanair has reported a big increase in full-year profits.Net profit for the year to the end of March rose 66% to €867m (£614m; $948m), slightly ahead of analysts’ expectations.The airline’s “Always Getting Better” customer experience programme had attracted “millions of new customers to Ryanair”, chief executive Michael O’Leary said.Falling oil prices also reduced operating costs.“Our AGB programme is transforming our customer experience, our service, and the way we listen and respond to our customers,” Mr O’Leary said.“We have won substantial traffic and share gains in all markets.”Passenger traffic was up 11% to 90.6 million customers, while total revenue rose 12% to more than €5.6bn.To cope with rising demand, Ryanair said it had ordered 183 Boeing 737-800 planes for delivery from 2014-18,

and 200 Boeing 737 Max 200s from 2019-2023.The new aircraft will be cheaper to finance and operate, with engines 18% more efficient than their predecessors, the company said.Much of the growth in passenger numbers is being driven by its new Business Plus and Family Extra services, it added.

IRISH AIRlINE RyANAIR REPORtS BIG INCREASE IN FUll yEAR PROFItS

7

Lord Bamford, the chairman of construction equipment company JCB has said the UK should not fear an exit from the European Union. “We are the fifth or sixth largest economy in the world. We could exist on our own - peacefully and sensibly,” Lord Bamford said an exit would enable the UK to “negotiate as our country rather than being one of 28 nations”. Prime Minister David Cameron has promised an in-out referendum on the UK’s EU membership by the end of 2017. Lord Bamford was speaking as the privately-held firm reported £303m in underlying earnings for 2014, compared with £313m in 2013.JCB said the UK’s construction boom had helped offset weaker markets globally.The construction equipment market in both Brazil and China dropped by 17% last year, with Russia down 27% and India

by almost 15%, it reported.In contrast, the market for plant machinery in the UK surged by 30%, while in the US it rose 13%.Overall JCB said sales totalled £2.5bn, down 6% on 2013.Lord Bamford said the firm was “well placed” to capitalise on improving growth in developing countries.“The need for infrastructure in much of the developing world remains acute and will eventually drive a resumption of growth,” he added.

uk should noT fEAr Eu EXiT sAys ChAirmAn of JCB


EUROPE nEws sToriEs

New Zealand-based Fonterra Co-operative Group Limited has commissioned its new dairy ingredients plant in Heerenveen, in the north of the Netherlands.The plant produces whey and lactose specialty ingredients that will be used in high-value paediatric, maternal, and sports nutrition products by Fonterra and its global customers. Built on a 25 hectare site that has been developed in partnership with Dutch cheese manufacturer A-ware Food Group, the plant is Fonterra’s first wholly owned and operated ingredients plant in Europe.Chief Executive Theo Spierings said the plant forms part of Fonterra’s fully integrated global supply chain from the farm gate direct to global consumers, using Fonterra’s milk pools and manufacturing sites in New Zealand, Australia, and Europe.“The commissioning of our new plant in Heerenveen further strengthens our ability to deliver high quality, advanced dairy nutrition that meets the needs of our priority markets and global customers.“Fonterra has substantial intellectual property in the manufacture of functional

whey protein ingredients and had been looking for some time for a source of high quality whey to enable us to commercialise these innovations.“Our partnership with A-ware Food Group fits well with our strategic priorities aimed at increasing the volume and value of our ingredients and branded products,” said Mr Spierings.Fonterra Regional Director for Ingredients in Europe, Middle East, Africa, Russia & CIS (EMEA) Hans Huistra said the plant’s location and capacity would enable Fonterra to better serve its European and global customer base, delivering a secure, reliable source of high quality ingredient products.The new plant will produce 5,000 metric tonnes of whey protein and 25,000 metric tonnes of lactose annually. It will operate around the clock: 24 hours a day, 365 days a year. Approximately 50 new employees currently work for Fonterra at the site.A-ware Food Group’s adjacent cheese plant was also recently commissioned on schedule.

FONtERRA COMMISSIONS NEW INGREdIENtS PlANt IN tHE NEtHERlANdS

9

Vestas has received a firm and unconditional order for 24 V110-2.0 MW turbines for the Mycielin wind power project to be located in western Poland. The order was placed by Polenergia S.A., the largest private Polish energy group.Wind turbine delivery is expected to begin in the third quarter of 2015 with commissioning expected to be completed in the fourth quarter of 2015. The contract includes supply, installation and commissioning of the 24 V110-2.0 MW turbines along with a VestasOnline Business SCADA solution and a five-year service agreement (AOM 5000).

A new 167 year life coal mine has opened in Russia.The new Arshanovsky open cut mine, in south eastern Siberia, has set a goal of two billion tonnes of coal extracted over its mine life, at a rate of around 10 million tonnes per annum. The Russian mine will be located in the Khakassia region of Siberia, with plans to construct additional rail infrastructure to support the operation.

“It is an important step towards achieving Polenergia’s goals in wind energy development. We are happy to work with Vestas as a turbine supplier again”, states Micha? Koz?owski, Vice President of Polenergia S.A.“It is a real pleasure for us to announce another order in Poland. Polenergia S.A. is a key player in the Polish energy market and a highly valued customer. We are happy to be chosen as the wind turbine supplier and service provider for this wind power plant and to consolidate our market leadership in Poland”, states Klaus Steen Mortensen, President of Vestas Northern Europe.

The opening comes as Russia also announces the construction of two new coal ports in Siberia, which gives the nation more access to Chinese, Japanese, and Korean coal markets.

vEsTAs wins 48 mw ordEr in PolAnd, sTrEngThEning mArkET-lEAding PosiTion

RAZREZ ARSHANOVSKy OPEN lARGESt COAl MINE IN RUSSIA


EUROPE nEws sToriEs

Members of London First, an influential group of businesses that seek to make London the best city in the world for commerce, have come out resoundingly in favour of Heathrow expansion.A survey asked ‘Which of the sites would your business favour as a location for another runway in the South East?’. 59% responded in support of Heathrow, more than double those who chose Gatwick (25%).The result is further evidence that the expansion of Heathrow has the backing of British business. Expanding Heathrow, Britain’s hub airport, is the only way to connect the whole country to global growth. The Airports Commission’s analysis clearly shows that it will deliver the greatest benefits for Britain, generating up to £211bn in economic growth and up to 180,000 jobs across the country. That’s why Heathrow’s plans are also already backed by five regional airports, 32 Chambers

of Commerce across the country and influential British airlines such as easyJet and Virgin Atlantic.John Holland-Kaye, Chief Executive of Heathrow Airport said:“London is a world city that has been at the centre of global commerce for centuries. To maintain our competitive advantage we need to expand Heathrow and connect not just London, but the whole country, to the globe’s fastest growing markets. That’s why we have huge and growing support from businesses, business groups, unions, airports and politicians across the country.“This issue is urgent and we agree that Government needs to act swiftly after the election. The answer is clearly Heathrow. Let’s get on with it.”89% of respondents called on Government to make a swift decision on the Airports Commission recommendation.

lONdON FIRSt MEMBERS BACK HEAtHROW EXPANSION

11

Delivery Hero, the global leader in online and mobile food ordering, has announced the acquisition of Yemeksepeti in a transaction valued at US$589 million. This is the largest acquisition ever made in the online food ordering sector. The transaction further extends Delivery Hero’s position as the global market leader, now processing c. 10 million orders monthly which is far more than any other global player.Yemeksepeti was launched 15 years ago and is today an extremely popular brand in Turkey, processing over 3 million orders each month across its markets. The profitable business is characterized by strong topline growth of c. 60% p.a., a loyal customer base and an innovative product. Yemeksepeti will continue to be run by its experienced team under CEO and Co-Founder Nevzat Aydin who joins Delivery Hero as a senior advisor.In addition to operating in its domestic market, Yemeksepeti is notably active in the Middle East where its platforms provide food ordering services in the United Arab Emirates, Saudi Arabia, Lebanon, Oman, Qatar and Jordan. The Middle Eastern business of Yemeksepeti supplements the market leading position of Delivery Hero which acquired Talabat.com in March 2015 and the synergies across these markets further enhance the value of this partnership. Simultaneously, Delivery Hero acquires Greek market leader e-Food.gr. e-Food.gr serves more than 300k orders per month across more than 40 cities in Greece.The acquisition of Yemeksepeti is funded

through cash and shares with the former shareholders of the company, including General Atlantic, becoming shareholders in Delivery Hero.Niklas Östberg, CEO of Delivery Hero, commented: “We have looked at many businesses in our industry around the world but we have rarely seen KPIs as exceptional as those displayed by Yemeksepeti: customer cohorts and reorder rates are among the best in the world and far superior to those shown by our listed peers. It is an extraordinary company, and I can’t express enough of my excitement that they will join the Delivery Hero family. I’m particularly grateful that Nevzat will not only continue to lead Yemeksepeti, but will also strengthen our team with his invaluable expertise and experience. I’m sure that Delivery Hero will profit immensely from Nevzat’s involvement in our global business. Our position as leader in the Middle East, a region with tremendous growth potential, has become even stronger.”Nevzat Aydin, CEO of Yemeksepeti, commented: “We are very proud to have built a company that has changed the way people think and order food in Turkey. During our 15 year history we have had many approaches from global and local investors however we were waiting for the right time and the right partner. Today, I am delighted to team up with a company whose global ambitions, corporate culture and way of doing business are so aligned with ours. We are very excited to leverage our 15 years of know-how and innovative business approach to new regions with Delivery Hero.

dElivEry hEro To Buy middlE EAsT onlinE food sErviCE for $589m


CroSSrAIL proJECtEurope’s largest infrastructure project bringing london up to speed from East to westQ&A with Will parkes, External Affairs Director, Crossrail

EUROPE

13

CroSSrAIL proJECtEurope’s largest infrastructure project bringing london up to speed from East to westQ&A with Will parkes, External Affairs Director, Crossrail


EUROPE

Could you begin by introducing the Crossrail Project and giving some insight into its history to date highlighting key events over the years? Crossrail is Europe’s largest infrastructure project. It stretches for over 100 kilometres from Reading and Heathrow Airport in the west through the centre of the city and out to Essex and southeast London. It will add 10% to the capital’s rail capacity and bring an extra 1.5 million people within 45 minutes commute of central London. Crossrail’s construction officially began in May 2009, when the first pile was driven into the dock at Canary Wharf. It had been talked about and planned for many years prior to this; however it wasn’t until Parliament passed legislation in 2008 that it really moved forward with some certainty.We are creating 26 miles of twin-bored tunnels under central London.

The start of this major tunnelling was an important milestone , begnning for the western tunnels in May 2012. The eastern tunnelling began in November 2012. Our rail tunnels are now 83% finished – we will complete these next year, when the remaining tunnel boring machines reach Farringdon station, in central London.In terms of the overall programme, we passed the halfway mark in January of this year. We are nearing the completion of the major civil engineering work. The challenge now is to transition to the installation of railway systems, and finishing off our 10 new stations, an altogether different and no less challenging task. Crossrail’s construction will support the equivalent of 55,000 full time jobs right around the UK. Three out of five businesses currently winning work on the project are based outside London and over half are small and medium-size companies (SMEs).

15

MINING AND ELEMENT SIX HAVE COME A LONG WAY TOGETHERElement Six has played a big part in transforming

the ef� ciency of South African mining with synthetic diamond and tungsten carbide applications for tools.

Today we are driving productivity in the mining, construction and power generation industries. It’s the result of a commitment to investment and innovation, made over 78 years ago, that continues to deliver ever improving performance and productivity – securing

the industry today and for the future.

www.e6.com

E6_Electra Mining ad2 105x148_v1.indd 1 26/09/2014 17:00

Crossrail is the largest ongoing construction project in Europe with many component parts, can you highlight the elements that make up this construction programme?Put very simply, the main elements of Crossrail include tunnelling, the construction of 10 new stations, and the works on the surface section of Crossrail. There is also the implementation of all of the railway systems, including signalling, tracks and platform edge doors and of course procurement of the trains themselves. The western tunnels run from Royal Oak, west of Paddington, through to Farringdon station. The contractor for this work is Bam Ferrovial Kier Joint Venture. The Eastern tunnels run from Victoria Dock through to Farringdon and from Stratford through to Farringdon and the contractor for these is Dragados Sisk Joint Venture. The Thames tunnels run under the river at Woolwich and the contractor for these is Hochtief Murphy Joint Venture. We are have also refurbished the Connaught Tunnel, a Victorian era structure beneath the Royal Docks in East London. The surface section is being undertaken by Network Rail, on behalf of Crossrail. Each of Crossrail’s 10 new stations are significant projects in their own right, especially considering they need

to link in with all of the other major civil engineering work, all beneath and around one of the world’s most dynamic cities. Crossrail is much more than just a railway. As an example, we are planning to develop three million square feet of property above 12 construction sites, making us one of London’s biggest property developers in the next five years.We have also built a new Tunnel and Underground Construction Academy, to up-skill a new generation of people capable of working in tunnels. We intend for the expertise gained from Crossrail to be passed on to future infrastructure projects.


Considering the continuous growth in population in the city of London how significant is this project to the future of the city?London needs Crossrail if it is to continue to compete globally. The population of London will increase by one million over the next ten years and London needs additional transport capacity. In addition to the 10% rail capacity increase, Crossrail will add resilience and cut travel times. It will help to transform the cityscape too, with over two million square feet of new and improved areas outside stations – equivalent to 19 Leicester Squares. But this isn’t a project that is just benefitting London. Crossrail is creating jobs and business

opportunities right around the UK. Three in five businesses winning work are based outside London, including the largest contract, to build Crossrail trains at Bombardier in Derby. We have 10,000 people currently working directly on the project. Crossrail is supporting some 55,000 job opportunities throughout the UK; among those are some 350 apprentices that have worked on Crossrail.Much of the project’s cost is funded by London. Over 60% of Crossrail’s £14.8bn costs are funded by Londoners and London business through a Business Rates Supplement and direct contributions from other key beneficiaries.

EUROPE

17

one thing the team has done excellently over the lifetime of this project is maintaining great communication with its stakeholders, could you identify how the team has made the people of london take ownership of this project?Managing stakeholders can be the making or breaking of a project. On a project like Crossrail, the sheer volume of stakeholders and the fact that construction runs over a long period of time means you have to engage with the communities we are working in and manage concerns seriously. Addressing these and maintaining support for the project is a key element. We know people are interested in the project so have made sites available for local visits so people can see behind the hoardings and gain an understanding of the works that are taking place; and see a glimpse of what the finished railway will look like. We’ve got a hotline anyone can call 24/7, a website and we’ve established a range of community forums along the route.Our contractors are obliged to minimise the impact on the local community and to invest in community improvements. They are also required to retain their own community relations staff, who work alongside those from Crossrail.We have encouraged a culture of

respecting the needs of our local communities well. This starts at the very top; our chairman and chief executive are both very passionate about our community and stakeholder relations.

Could you provide some insight into the expected advantages this project will present to both residences and businesses that operate in london?Crossrail will reduce journey times, increase rail transport capacity by 10 per cent and bring an extra 1.5 million people to within 45 minutes of central London.It will deliver £42 billion of economic benefits to the UK and allow London to continue to grow and compete with the world’s city powerhouses.Crossrail will link London’s key employment and business districts more effectively than ever before – the West End, the City and Canary Wharf. Crossrail trains will be around 200 metres long and carry 1,500 passengers and 24 trains per hour will run during the peak through central London after Crossrail opens. Crossrail will boost regeneration around the stations along its route, improving accessibility, bringing shorter journey times, and giving employers better access to a larger, more highly skilled labour market.It has been projected that Crossrail will support the delivery of over 57,000 new homes close to stations along the route.


EUROPE

A project of this magnitude will not only reduce traffic from within but subsequently increase traffic from outside the city. which supporting projects and or strategies that will help accommodate the imminent growth?Crossrail is part of a wider investment project in London and the UK’s transport infrastructure. Projects such as Thameslink, the Northern Line extension and Tube upgrades will, alongside Crossrail, help to cater for London’s growth.

research shows that Crossrail through a tender process encourages local supplier and contractor’s participation and strategic partnerships in its operations. Can you describe this process and positive result experienced in using this strategy? Ninety-seven percent of the businesses in our supply chain are based in the UK. Firms of all shapes and sizes from Falmouth to Fife are winning work on the project - three in five businesses in our supply chain are based outside London and over half are SMEs. We frequently travel around the country to host workshops and seminars encouraging businesses to bid for Crossrail contracts. Crossrail Limited was set up specifically to design and construct the railway. We are answerable to our sponsors, Transport for London

and Department of Transport. We are also working with Network Rail which is delivering the surface sections of the route on our behalf.

data collection and analysis is a significant part of good management generally in business, how significant is data collection to cross rail and what is its approach in sharing information with it stakeholders?Crossrail aims to build two railways; one physical and one digital. To create the ‘digital railway’ we collate data from our contractors into a set of linked databases. When Crossrail is finished, we will be able to hand over these databases to the operator which will generate significant long-term savings in the cost and maintenance of the railway. Using a very simple example, it will be much easier for someone to change a light fitting in a new Crossrail station because they will have the information at their fingertips; they can identify what kind of light fitting is required, where the light fitting is located, how best to replace it and more.Crossrail has broken the mould in UK construction by being the first organisation to develop a strategy and process for leading and managing innovation in mega projects. Crossrail has launched an innovation programme designed to not only develop new

19


EUROPE

products and processes to take the construction industry forward but to pass over those concepts for further development by mega infrastructure projects.Crossrail’s innovation programme is creating a new way of working, bringing together companies across the sectors to work together to generate new ideas, share lessons learned and track innovations from concept, to testing to use in the construction site. Funded by Crossrail and its contractors, £350,000 has been provided to date. This will help further develop, test and pilot more than 20 innovation concepts.

Projects of this size usually present unique challenges at various stages which subsequently lead to exciting new discoveries in operational approach, could you identify any unique features in term of operational approach?Crossrail’s approach has been mostly dictated by our values; inspiration, respect, safety, collaboration and integrity. These are more than just words – we have endeavoured to embed them in all our operations. Safety in particular is of crucial importance to us. Nothing is too important that it cannot be done safely.

21

subsequently could you highlight any archaeological discoveries identified over the course of the project?The construction of Crossrail through the heart of London is resulting in one of the most extensive archaeological programmes ever undertaken in the UK. Archaeological investigations have been carried out at each of our central stations. The most notable finds include prehistoric animal bones, Roman remains, a Black Death plague pit, human remains from the infamous ‘Bedlam’ psychiatric hospital and remnants of Britain’s industrial past.

The Crossrail project prides itself on its sustainability and social initiatives. Could you provide some initiatives you champion in the area green construction?We had two objectives from the outset: build the railway sustainably and allow for it to be operated sustainably. One of our most notable sustainability initiatives is contributing to the new wildlife sanctuary at Wallasea Island in Essex. This will see much of the four million plus tonnes of excavated material taken from Crossrail tunnels to Wallasea by train and barge, where it is creating an attractive wetland environment for birds.We have a broad range of sustainability initiatives in addition

to Wallasea. For example, the new Crossrail trains will be the most energy efficient of their type. They will be relatively lightweight, and built with an emphasis on energy efficiency and intelligent on-train energy management systems. They will also be aerodynamic to help reduce drag and will feature regenerative braking which allows energy to be returned to the electricity grid. These measures are expected to give up to a 20 per cent reduction in energy costs.

finally when is the project set to go live and what should the world expect?Trains will run through the central section of tracks by the end of 2018, with the entire route complete by the end of 2019. Our trains will be 200 metres long and able to carry 1500 people - creating a more comfortable passenger experience.


EUROPE

23

tRANSlINK Connecting communities

Upon the government’s announcement of changes to the provisions of public transport, amalgamating Citybus (now Metro), Northern Ireland Railways and Ulsterbus began 10 years ago in 1995. With the main objective of encouraging the use of public transport over private travel, the organisation promotes sustainable transfers through co-ordinating bus and rail services. The aim of the organisation was and still is, to improve services for the public. Through a number of measures, it strives to join the development of its transport facilities, such as co-ordinated timetables, combined ticketing and feeder buses to railway stations.

Transporting millions of passengers by train and bus, Translink works tirelessly to ensure its co-ordinated service runs

smoothly. A combination of three branded transport operating companies; Translink, Northern Ireland provides integrated transport solutions to the general public.


on a daily basis. The company recognises that its customer service is paramount and is aware that each employee shapes the perception of the organisation during the customer’s travelling experience.Transporting 65,000 children to school every day, committees and commuters alike is equally valued by the customers with the collective

It’s clear that this united effort has helped Translink begin to achieve its vision of providing integrated travel solutions that are attractive, sustainable and good value. Though ultimately, at the heart of its organisation are the people, not only its valued members of staff but its customers that they provide an outstanding level of service to

25

efforts of the transport brands enabling citizens to benefit from an efficient, convenient and comfortable service. With over 4000 employees and in excess of 2000 drivers, fulfilling the needs of and transporting its customers is no mean feat but it is the combined power of the people involved that ensure the road ahead is bright.

In addition to the importance placed on customer service, Translink has solid values that help guide the development and choice of strategies to realise its corporate visions, meet its objectives and ensure relevant government policy is adhered to. These values shape and define the organisation and provide the back bone to Translink’s operations:

SAFEtyTo ensure transportation is reliable and secure, safety is paramount for Translink. It maintains high standards at all times to ensure both its employees and customers are protected from any potential dangers or harm.


PEOPlERecognising the impact good people have on the overall performance of the business, Translink aims to create an environment that will attract, retain and motivate the very best. To ensure the highest customer service is delivered, they place a lot of importance, time and effort to ensure the stakeholders of the business are happy.

COMMUNItIESTranslink includes the community in its set of values because it plays a very important part in society; public transport services enrich the economy, the environment and the lives of the population so it’s crucial it keeps its citizens and therefore customers, happy.

27

GOVERNANCETaking responsibility and accountability enables Translink to improve its services and continuously strive for progress. The fourth and final objective doesn’t only cover control and obligations, it also enables Translink to identify and achieve its objectives.

Utilising these core values and emphasising their importance to its public facing employees keeps the 4000 strong workforce in the same lane and travelling in the right direction. In Translink’s case, its vision and core values allows the company to not only improve the economy and environment but also meet its objectives. Such objectives include continually improving bus and rail services, capitalising on its assets, enhancing commercial aspects and ultimately delivering growth, whilst shaping the organisation’s future.The organisation’s annual review 2013/2014 highlights that the changes and improvements Translink is making encourage more people to use public transport. “Translink is delivering Government passenger transport targets through a combination of product development, innovation and value for money; passenger numbers are growing (reaching nearly 80 million journeys), customer satisfaction is good and commercial performance is strong. Translink has delivered considerable success. “Our focus has continued on reducing costs, enhancing value for money and continuing improvement of our services. In this, we rely on our employees and we have invested to develop the leadership, excellence and technical and professional competence necessary to meet current and future challenges.”As it continues to connect communities through integrated travel solutions, the journey into the future looks as though it will be a smooth one for Translink.


NORtH AMERICA nEws sToriEs

Tesla Motors Inc (TSLA.O) has unveiled Tesla Energy - storage systems or batteries for homes, companies and utilities that will expand its business beyond electric vehicles and tap into a fast-growing area of the energy industry.Chief Executive Elon Musk said the company’s goal was to “fundamentally change the way the world uses energy on an extreme scale.” He introduced the products to a crowd of business partners and journalists at a Tesla facility near Los Angeles.In Tesla’s view, such storage systems could become part of a fossil-fuel-free lifestyle in which people can have solar panels on their roof generating electricity to power their home and recharge their electric car batteries.The smallest battery unveiled on Thursday, known as Powerwall, is housed in a six-inch-wide container that is meant to be hung inside a garage or on the outside wall of a house.At $3,500 for a 10kWh model, excluding inverter and installation prices, the

Powerwall can be used for backup power or to store solar energy.Tesla’s lead installation partner for the home battery will be SolarCity Corp (SCTY.O), the solar installer backed by Musk. The company will also partner with many others, Musk said.YieldCo TerraForm will be acquiring 521 megawatts of active wind and solar power plants. SunEdison will acquire more than “1.6 gigawatts of pipeline and backlog, adding to TerraForm Power’s call right project list.” These projects are expected to be operational in 2016 to 2017. As per the release, “Pro forma for the transaction, TerraForm Power raises its 2015 CAFD guidance to $214 million and 2015 dividend guidance to $1.30 per share.”First Wind has more than 200 employees with wind and solar projects (mostly wind) across the U.S. The release notes that the acquisition adds 8 gigawatts of pipeline and backlog. SunEdison raised its 2015 installation guidance from 1.6 to 1.8 gigawatts to 2.1 to 2.3 gigawatts as a result of the acquisition.

Elon musk unvEils TEslA EnErgy

29

A colleague close to First Wind notes that in addition to a wind and solar project pipeline, First Wind has experience with expanding transmission lines, energy storage in Hawaii and new wind technology that allows harvesting power from lower wind speeds.GTM’s Honeyman suggests that the acquisition brings up two important implications about the role of YieldCos in utility scale solar:Yieldcos represent an attractive exit strategy for pure play solar developers before the Federal ITC drops: Seven of

the top twenty utility scale developers are considered “pure play” developers, meaning that none of them own their assets long term. With the ITC drop off looming at the end of 2016, margins for pure play developers are only expected to grow thinner. Making the switch from selling projects at or near commercial operation to selling the company altogether to long term PV asset owners represents an attractive strategy for pure play developers, in what should be an increasingly consolidated developer landscape post 2016.



Volvo Cars has announced that it is to build a brand new manufacturing facility in the US, fulfilling its ambition to be a truly global car maker, investing around $500m in a new plant and underscoring its long term commitment to the US market.The company has drawn up a short list of potential locations and full details of the location of the new factory and the size of the investment will be announced at a later date.

The move means Volvo is now a global car manufacturer with an industrial footprint on all three key continents. It has two factories in Europe, two in China and the future plant in the US, which will be part of the Americas region that was announced in January. These developments form part of Volvo’s transformation that has been ongoing since 2010.The transformation plan involves the creation of a global industrial footprint, the complete renewal of Volvo’s product range over the next four years, the introduction of a new modular vehicle technology, the development of world-first safety technologies, a new design language and a range of class-leading connectivity services.“Volvo Cars cannot claim to be a true global car maker without an industrial presence in the US. Today, we became that,” said Håkan Samuelsson, Chief Executive and President. “The US is an absolutely crucial part of our global transformation and today’s announcement makes it perfectly clear

VOlVO CARS tO BUIld NEW FACtORy IN US

31

that Volvo is in the US to stay.”Volvo Cars has been doing business in the US since 1955 and this decision to invest in the US highlights Volvo’s long term commitment to the US market. The new plant also means Volvo will be able to meet and ultimately exceed its volume targets in the US, where it has a medium term ambition to sell 100,000 cars a year. It will help accelerate the introduction of build-to-order in the US as well as being an integral part of Volvo’s global manufacturing footprint, serving the US and export markets, and also help limit the impact of currency variations.“The US Volvo dealers are delighted with this announcement,” said Chip Gengras, chairman of the Volvo dealer council in the US. “It clearly illustrates

Volvo’s long term commitment to the US market.”The new plant will create new jobs, providing security for its employees and their families. Car plants are also known to have significant multiplier effects on their local areas, injecting funds into neighbourhoods. As such, the new plant provides a boost for the economy of the state in which it is located.Volvo’s US revival comes alongside strong growth in China and Western Europe. With plans to increase sales on all three continents, Volvo will be able to meet its medium term sales and profitability targets and clear a path towards even stronger growth in future.



Canada’s Barrick Gold will relinquish some management duties at Australia’s Super Pit gold mine to partner Newmont Mining, in a further pull-back from operations in the Southern HemisphereBarrick, the world’s biggest gold producer, has already sold three mines in Australia and is taking bids on a fourth in a bid to lower net debt by about $3 billion. It is also trying to sell the Porgera gold mine in neighbouring Papua New Guinea.Barrick had about $13 billion in debt at the end of 2014.Barrick and Denver-based Newmont have long been 50-50 partners in the Kalgoorlie Consolidated Gold Mines (KCGM), which operates the Super Pit, at one stage Australia’s biggest gold mine.The companies had agreed that due to Barrick’s reduced presence in Australia, Newmont would “provide greater direction and support to operation of the mine”, according to Ian Butler, KCGM acting general manager.Butler stated, that the ownership structure of the operation would not change, Butler said.

Australian gold mines are changing hands at a fast clip at a turning point in the gold cycle, according to analysts and mining executives.After years of losing money or just breaking even, many are back in the black thanks in part to a weakening Australian dollar.

BArriCk gold TAkEs sTEP BACk AT suPEr PiT gold minE

33

Kraft Foods Group Inc the maker of Velveeta cheese, will merge with ketchup maker H.J Heinz Co., owned by 3G Capital and Warren Buffett’s Berkshire HathawayInc, to form North America’s third-largest food and beverage company.The combined company, to be led by Heinz CEO Bernardo Hees, will have revenue of about $28 billion (18.8 billion pounds), about half that of market leader PepsiCo in 2014.Packaged-food makers such as Kraft are battling sluggish demand as consumers shift to products perceived to be healthier.Kraft has overhauled its senior management over the past few months and has said it will develop products to meet changing consumer preferences.According to Buffett, Berkshire Hathaway will own more than 320 million shares in the combined company.“We will be in the stock forever,” he said.Brazilian private equity firm 3G Capital and Berkshire Hathaway acquired Heinz for $23.2 billion in 2013.The Kraft deal is unlikely to face

antitrust hurdles as there is little overlap in products, analysts said.Kraft’s products include cheese, processed meats, packaged meals and Maxwell House coffee, while Heinz makes ketchup, sauces and frozen foods.The combined publicly traded company, expected to save about $1.5 billion in annual costs by the end of 2017, will have eight brands worth over $1 billion each, the companies said.Kraft shareholders will get one share in the combined company, to be called the Kraft Heinz Co, and a special cash dividend of $16.50 for every share held.Heinz shareholders will own 51 percent of the combined company and Kraft shareholders the rest.Kraft CEO John Cahill will be vice chairman of the combined company.

HEINZ tO BUy KRAFt FOOdS


NORtH AMERICA

35

CIty OF tORONtOCanada’s multicultural hub benefitting from its

municipal government’s sound investment

Toronto is the hub of the nation’s commercial, financial, industrial, and cultural life, and is the capital of the Province of Ontario. It became the ‘City of Toronto’ in 1834, and through its subsequent evolution and expansion Toronto has emerged as one of the most liveable and multicultural urban places in the world today.

CUltURAl dIVERSItyToronto is heralded as one of the most multicultural cities in the world, it is also ranked as the safest large metropolitan area in North America by Places Rated Almanac.Toronto is unique in its diversity. Over half of Toronto’s population was born outside of Canada, while over 140 languages and dialects are spoken there, with just over 30 per cent of its residents

The City of Toronto, located on the north shore of Lake Ontario, is Canada’s largest city and the fourth largest city

in North America with a population of 2.8 million people.


NORtH AMERICA

series of committees that are part of City Council, and through agencies and corporations. Members of the public can get involved with many of the City’s agencies, and can submit comments during the decision-making process. In its 2014 budget, City Council ensured tax rates for commercial properties remain below the rate of inflation while industrial properties received a tax decrease. The City continues to reduce its tax rates for commercial, industrial and multi-residential properties to an

speaking a language other than English or French at home.The city’s municipal government is the nation’s sixth largest government with an annual operating budget of $11.5 billion. It has a workforce of approximately 37,000 employees, who deliver dozens of services to residents, businesses and visitors.

tHE CIty COUNCIlForty-four elected councillors who along with the mayor make up Toronto’s City Council. Government decision making is done through a

37

approved target of 2.5 times that of the residential tax rate.Through its Social Development Finance and Administration (SDFA) division, the City provides leadership to develop and implement a social inclusion and community safety agenda for the city, foster safe and strong neighbourhoods and communities, promote community engagement and advance life skill opportunities for youth.The key initiatives include strategies that work in the following areas:

• Youth equity• Helping newcomers settle in Toronto• Supporting senior citizens• Building a strong neighbourhood• Poverty reduction• Community Crisis Response

Program• Specialised Program for

Interdivisional Enhanced responsiveness

• Community funding• Human Trafficking Initiative• Access T.O, which allows all Torontonians, regardless of immigration status, access to City services without fear of being asked for proof of status.The SDFA also sets out revitalisation plans to improve communities and tower renewal plans for the city’s 1,200 high rise apartment towers that are 8 stories or more and are home to more than 500,000 residents.One of these is Alexandra Park, a downtown social community housing project includes the replacement of all 333 of its townhouses and renovation of its 473 apartment units and construction of approximately 1,540 condo units. The revamp will include a new community centre, two new public parks, pedestrian spaces, street level retail, and three new streets to open up the isolated neighbourhood to the surrounding districts. In this private-public partnership, the Toronto Community Housing will work with a private developer to lease or sell part of the land to build condos in towers as


NORtH AMERICAhigh as 17 storeys, and use the resulting proceeds to overhaul the aging 44 year-old Alexandra Park complex. Another is Regent Park, a neighbourhood being rebuilt for 12,500 residents over 15 years to create a mixed-income, mixed-use community with new community spaces and returning businesses. The Tower Renewal Program drives broad improvements to Toronto’s concrete partner towers and the neighbourhoods around them to support better apartment conditions. This is done through a range of initiatives that work with residents, property managers and tower owners to increase energy efficiency, build community amenities, and add economic development from building retrofits and small resident buildings through a new permissible Residential Apartment Commercial zones. Others include the Lawrence-Allen Revitalisation project, which ims to completely transform an ageing social housing project in Toronto’s inner suburbs into a mixed-use, mixed-income community much like the successful Regent Park revitalisation. Over 20 years, all 1,208 existing social housing units will be replaced and an additional 4,092 market units will be built in a park-centred, transit supportive community that will be fully integrated into the rest of the city.

PAN AM GAMES ANd WAtERFRONt REVItIlISAtIONLater this year, Toronto will host the 2015 Pan Am Games where more than 7,000 athletes from across the Americas and

Caribbean will compete across 36 Pan Am sports and 15 Parapan Am sports.The Athletes’ Village which will house 10,000 athletes, coaches and officials during the Games is based at West Don Lands, a 32 hectare site being transformed from former industrial lands into a mixed-use, pedestrian-friendly, riverside community. Post-Games, the revitalised West Don Lands will feature 6,000 new residential units, ample employment and commercial space, schools, child-care centres, a recreation centre, and nearly 9.3 hectares of new parks and public spaces.Alongside this, work on Queen’s Quay, Toronto’s main waterfront street, is

CONCRETE SCANNINGCut your risk, not a conduit. Using non-invasive Ground Penetrati ng Radar (GPR) we’ll locate features embedded in concrete before you saw, drill or cut.

PRIVATE UTILITY LOCATESAvoid costly mistakes by using our Private Uti lity Locati ng services for your next construction, architectural or environmental project.

SUBSURFACE UTILITY ENGINEERINGAchieve an accurate snapshot of the subsurface utilities within your project area for safe and effective design.

INFRASTRUCTURE INSPECTIONWe'll provide the insights you require to assess the conditi on of a road or bridge, locate features such as post tension cables and inspect pipe performance.

NEAR-SURFACE GEOPHYSICSMitigate environmental and geotechnical concerns before they become a hazard. Our solutions span the spectrum from geology to groundwater.

Phone 1-800-363-3116 Email [email protected]

www.multiview.ca

39

being transformed into a showpiece for the city. ready for the summer’s Games. It will feature two lanes of east-west traffic on its north side, with a dedicated Light Rail Transit line in the middle. On the south side, a generous granite pedestrian promenade defined by a double row of trees will run alongside the Martin Goodman Trail, a multi-use recreational trail. East Bayfront is one of the first new neighbourhoods to be developed on Toronto’s waterfront. Its proximity to downtown Toronto and location directly on Lake Ontario will make East Bayfront one of the world’s most significant waterfront communities. For years, the 23 hectare site has been a reminder of Toronto’s industrial past. Now, after years of planning and public consultation, the transformation of this underutilised area is well underway. Life in the revitalised East Bayfront will defined by the lake as well as the parks and public spaces surrounding it. Two signature parks, Sherbourne Common and Canada’s Sugar Beach, and a kilometre-long continuous Water’s Edge Promenade and Boardwalk make up a quarter of the community. It will also feature 6,000 residential units, including 1,200 affordable residences, and millions of square feet of employment space able to accommodate 8,000 jobs.

PUBlIC tRANSPORt IMPROVEMENtSThe City of Toronto is acutely aware that public transport around the city is a vital service for both residents and visitors. With the Toronto Transit Commission (TTC), it has been planning for future transit

expansion in the east end of the city.First, the City and the TTC are planning for the ‘Relief Line’ - a future rapid transit line that would connect downtown Toronto to the Bloor-Danforth Subway (Line 2) east of the Don River. The Relief Line will assist in relieving crowding on the Yonge Subway line and the Bloor-Yonge interchange station as well as provide riders with more travel options.Capacity issues in the transit system have been identified in bringing people to and from work in the downtown core. Union Station (the city’s main transportation hub) and the Bloor-Yonge Subway interchange station currently experience extreme congestion at certain times of day, and both will be over capacity in the next 15 years or so.Secondly, the City of Toronto and the TTC are beginning to plan an extension to the Bloor-Danforth Subway (Line 2) to better serve residents of Scarborough, in the east end of Toronto. The proposed “Scarborough Subway Extension” will replace the aging Scarborough Rapid Transit line and contribute to an integrated and comprehensive rapid transit network.This new line would extend the Bloor-Danforth Subway (Line 2) from the existing Kennedy Station to Sheppard Avenue with at least three new stations. The proposed extension is a critical part of relieving regional congestion in the Greater Toronto Area.

BUSINESS dEVElOPMENt INItIAtIVESThe City of Toronto supports the start-up and growth of businesses to


NORtH AMERICA

further aid economic development. Enterprise Toronto serves more than 28,000 clients annually at its Toronto City Hall, North York Civic Centre and Scarborough Civic Centre locations, at its many special events and seminars, and by reaching out to clients online, in the community and over the phone. Its team of small business advisors help businesses make the right decisions during their start-up and help develop their management capabilities as their venture grows.

Businesses can access one to one business plan consultation; personal assistance with business registration; name searches and incorporation. They also provide coaching for a range of challenges from raising capital, to managing cash flow and accounting, hiring and managing staff, to marketing and social media and more. They have information on government programs and business incubation services as well as maintaining a resource library and host more than 100 events and seminars annually.

41

The City also has a Business Incubation & Commercialisation Program that supports the establishment, maintenance and expansion of Toronto business incubators. This program works collaboratively with organisations that provide a continuum of programs, services and resources that support small business growth and development.

StRONG lEAdERSHIPSince 2008, the City Manager of Toronto has been Joseph P.

Pennachetti, who will retire from the post on April 30 this year.Pennachetti joined the municipality as Chief Financial Officer. As Deputy City Manager and Chief Financial Officer, he contributed to the enhancement of Toronto’s business climate through the establishment of a 15-year plan to reduce business property taxes and a 10-year plan to reduce property taxes on small business. Pennachetti has been the spearhead of a 10-year, $30-billion capital plan, delivering services to almost 3


million residents. His achievements to improve customer service and to reduce the cost of government. He also led the development of 26 Strategic Actions for 2014-2018 to support Council’s Strategic Plan and related initiatives/programs over the next five years.He played a central role in establishing City budgets for 2005-2014, which allowed Toronto to remain competitive with a below-inflation increase in property tax funding while maintaining current levels of service. Not only this, but the municipality delivered some new and enhanced services.

Pennachetti was also able to secure the City’s crucial financial partnership agreements with the federal and provincial governments and the private sector, which have resulted in new infrastructure for the city.In addition, the City of Toronto’s international reputation for quality, innovation and efficiency in its public services owes much to Pennachetti’s leadership. His innovations have helped to establish annual programs - such as the first-ever City Manager’s Award for Public Service Excellence within the Toronto Public Service. The award is

NORtH AMERICA

43

now an annual program that recognises divisional initiatives contributing to the City’s human rights, equity and diversity goals.

GEAREd tOWARdS A BRIGHt FUtUREThe City of Toronto’s workforce are of course crucial in how it performs, and there are a number of employee schemes in place to ensure they are best equipped to deliver across all aspects of the business. A key part is being able to attract candidates of a high calibre to ensure the organisation remains forward thinking. To this end, the City of Toronto has introduced the Toronto Urban Fellows Program (TUF) – an annual recruitment

that provides new professionals (recent Masters or PhD graduates) with an intensive introduction to the City of Toronto’s governance, operations and administration through a combination of full-time work experience and a series of seminars, tours and workshops. This has welcomed 75 highly skilled and talented professionals to the Toronto Public Service.It also partners with Career Edge, a not-for-profit organisation, to provide temporary paid internships to internationally-trained professionals (Career Bridge); recent graduates of Canadian colleges (Career Edge); and recent graduates of Canadian colleges and universities with a self-declared disability (Ability Edge).These programs are cost-effective ways for City of Toronto divisions to access a pool of diverse, highly skilled professionals and recent university and college graduates who can help meet an operational need for a short-term, non-union assignment. This pool of talent serves as potential candidates for future City jobs. There is also a summer internship program for Masters of Public Policy (MPP) students from Toronto universities which is an excellent feeder for the Toronto Urban Fellows Program and other job vacancies. This talent pipeline creates a pool of candidates who are aware of and well positioned to apply for job opportunities in the future. With the departing Mr Pennachetti, it is the end of an era for the City of Toronto - but the multicultural city is heading into an exciting new phase in 2015 and beyond.

E [email protected] T 905.893.2030 F 905.893.7030 9667 Huntington Road, Kleinburg, ON, L0J 1C0

www.tedescon.com


45

EvEnTsNational Manufacturing WeekMay 26th - May 29thMelbourne Convention & Exhibition CentreMelbourne, Australia

Canadian Mining ExpoMay 27th - May 28thMcIntrye Community CentreOntario, Canada

Gastech 2015October 27th - October 30thSingapore EXPO, SingaporeGastech Conference & Exhibition

ADIPEC 2015November 9th - November 12thThe Abu Dhabi International Petroleum Exhibition & ConferenceAbu Dhabi, UAE


AFRICA nEws sToriEs

Former military ruler Muhammadu Buhari has become the first opposition candidate to win a presidential election in Nigeria.Gen Buhari beat incumbent Goodluck Jonathan by more than 2.5 million votes. Mr Jonathan telephoned his rival to concede defeat. “I promised the country free and fair elections. I have kept my word,” Mr Jonathan said in a statement.He said he had conveyed his “best wishes” to Mr Buhari, and urged “those who may feel aggrieved to follow due process... in seeking redress”.

A spokesman for Gen Buhari’s All Progressives Congress (APC) party praised Mr Jonathan, saying: “He will remain a hero for this move. The tension will go down dramatically.”Nigeria’s electoral commission officially declared the 72-year-old general the winner of the presidential election. The APC won 15,424,921 votes and Mr Jonathan’s People’s Democratic Party (PDP) gained 12,853,162 votes.

MUHAMMAdU BUHARI ElECtEd PRESIdENt OF NIGERIA

47


AFRICA nEws sToriEs

Finance Minister Nhlanhla Nene has said that government will retain a controlling stake in struggling state utility Eskom, adding that power shortages were the biggest risk facing the economy.Mr Nene said the key to resolving the crisis at Eskom was intervening to contain costs.Eskom’s funding gap to 2018 is estimated at R200bn, while it expects to receive R23bn from the government this year as it battles to keep the lights on.

The Treasury had said it was asked by a government-appointed commission to consider a proposal to partially privatise Eskom or sell some of its assets to secure further funding to expand generating capacity.Separately, Mr Nene said crucial public sector wage talks with unions were making good progress.About 1.3-million teachers, police officers and health workers will vote this week on the government’s offer of an inflation-linked wage increase.

souTh AfriCAn govErnmEnT To rETAin ConTrolling sTAkE in Eskom

49

The World Bank has approved a $45 million loan for Tanzania, Africa’s fourth-biggest gold producer, to help improve its mining sector especially among small-scale producers.The funds will help to create a viable domestic mining industry in poor, rural areas where unregulated artisanal and small-scale mining takes place, Philippe Dongier, the Bank’s country director for Tanzania, said in a statement.The project will train small-scale miners

in jewellery-making and help them access markets and financing, the bank said.Tanzania also has deposits of coal, uranium, diamond and precious stones.Dozens of small scale miners are killed each year in collapsing mines in Tanzania where unsafe and unregulated illegal mining is widespread, in the country ranked Africa’s fourth-largest gold producer after South Africa, Ghana and Mali.

WORld BANK APPROVES $45M lOAN FOR tANZANIA tO IMPROVE MINING SECtOR


SunEdison, the best-performing US solar company, has been awarded a contract to build an 86-megawatt power project by the South African government.The company will build the Droogfontein 2 solar project 20 kilometers (12.4 miles)south of Kimberly in South Africa’s Northern Cape Province, the Maryland Heights, Missouri-based developer said in a statement.Solar power plants are competitive with fossil-fuel energy and can be brought online “far more quickly than conventional power plants” to help relieve South Africa’s strained electricity grid, Enrique Collado, SunEdison general manager for Africa, said in the statement.SunEdison expects to complete solar and wind projects with 2,100 to 2,300 megawatts of capacity this year. Installations are expected to rise next year to 2,800 to 3,800 megawatts.

In South Africa, the company has developed 130 megawatts of projects since entering the market in 2011.Eskom, the country’s national utility, will purchase the power from the project under a 20-year purchase agreement.

sunEdison AwArdEd ConTrACT To Build 86 mEgAwATT solAr PowEr ProJECT in souTh AfriCA

AFRICA nEws sToriEs

51

Africa’s wealthiest man, Aliko Dangote plans to quadruple the supply of gas to Nigeria by building pipelines that maybe be backed by Carlyle Group LP and Blackstone Group LP, the world’s two biggest private-equity firms.Dangote, who has a reported net worth of $15 billion, will invest up to $2.5 billion in two sub-sea 550-kilometer (341-mile) pipelines running from Nigeria’s oil and gas-producing Niger River delta region to the commercial hub of Lagos. The pipes will increase the amount of gas available in Africa’s biggest economy to 4 billion standard cubic feet per day from 1 billion, he said.While Nigeria has gas reserves of about 180 trillion cubic feet, more than any other African country, most of what’s produced is flared or exported because of a lack of infrastructure to transport it to local companies and households. Boosting domestic supply will help increase electricity generation in a country where power cuts are common

and about 70 percent of electricity plants are fueled by gas, according to Dangote.Dangote, who has interests ranging from cement to sugar and oil refineries, plans to start laying the pipelines before the end of the year, he said. The first one should be ready by mid-2017.

dANGOtE PlANNING tO INVESt $2.5BN IN GAS PIPElINE


AFRICA

ANGlOGOld ASHANtI

53

ANGlOGOld ASHANtI

valuing more than just gold

There is no doubt that AngloGold Ashanti, headquartered in Johannesburg, South Africa, is a glob-al mining powerhouse. Aside from the fact that it presently runs 20 separate active operations in 10 countries spanning four continents, it is also continuing to identify viable sites in both new and es-tablished gold producing regions across the world. It is one of the world’s largest gold extractors producing millions of ounces each year and as a result, a significant global employer to people from varying ethnicities and cultures.

In 2014, AngloGold Ashanti celebrated it’s 10th birthday following the merger of AngloGold and Ashanti Goldfields

Corporation in 2004. Now a decade on from that powerful union, what does the future hold for the world’s third largest gold mining company?


AFRICA

ensuring that it considers people as much as profit.Whilst some companies may appear to be more interested in discussing merely the headline finan-cials, AngloGold is a company taking as much time and effort to openly discuss its sustainability values and ethos as the financial plans it has for the future. It has forged an

Employing over 60,000 people worldwide cannot be easy, mixing the obvious need to please shareholders, with a delicate social responsibility to foster those communities directly affected by the company’s operations. Fortunately AngloGold Ashanti is a company with a clear and decisive plan for the way in which it operates,

55

impressive policy for sustainability with a defined core strategy which revolves around many facets and not just profita-bility alone. A need to ensure that the safety of all employees is paramount, has been instilled across the company (resulting in the halts to production within South Africa following an earth-quake during 2014). Not stopping here,

it has also endeavoured to ensure all staff are treated with dignity, respect and appreciated for the diversity they bring to the company.This ethos is married with a belief that the duties of the company also extend beyond the employ-ees and into the wider communities, with an appreciation that AngloGold is accountable for its ac-tions. It has gone as far as to state that it hopes communities and societies in which it operates are better off as a result of AngloGold’s presence and not the other way around. For example, An-gloGold has made no secret of the fact that it requires water for mining operations to function, but that it is committed to ensuring it utilises as little as possible to avoid negatively effecting the sur-rounding communities or ecosystem.All this said, AngloGold clearly understands its primary purpose - the extraction of a precious metal from the earth, the need for revenue growth and for meeting its obligations to shareholders. In 2014 AngloGold produced over 4.4Moz of gold (approximately 11,000 of the gold bars you see in the movies) generating around $5.2bn in gold income, ranking it as the third largest gold miner in the world. It continued to invest in capital growth projects (such as Kibali underground and the MLE2 expansion at Cripple Creek & Victoria) throughout 2014.The company also focused heavily on reducing costs and overheads throughout the year and to great success following management

AFRICA

initiatives. These resulted in a 5% reduction in total cash costs and an impressive 13% drop in all-in sustaining costs. It also managed to record an increase in gold production for the second consecutive year with 8% being recorded year-on-year. This has meant that despite a significant drop in the price of gold (around 10% versus 2013), the company remains as strong as it was at the end of 2013.AngloGold has recently taken the decision to shift its focus from overseas to home, with the an-nouncement that it was willing to sell its operation in Colorado, US (Cripple Creek & Victoria) to the right buyer but only at the right price.

AngloGold has previously stated that it wants to reduce its debt and the sale of all, or a stake in, the US mine would appear to be part of an “objective to sim-plify and improve the overall quality of its portfolio”. However, any suggestions that this could weaken the company should perhaps be countered with a reminder of the company’s asset portfo-lio strength. With attributable gold ore reserves of over 57Moz and further mineral resources up-wards of 230Moz (plus explorations underway for new potential sites), suggesting it is highly likely that AngloGold will be operating as a major global gold producer for many decades to come.

Cyest Technology’s vision is to enhance decision-making and planning by enabling management to test their optionsThe Cyest Technology team has a reputation for its thought leadership and innovative solutions in the mining industry.

Next generation of ‘Smart’ Mine Technical Systems Software that is changing Mine Planning processes globally.

· Rapid mine planning including economics allowing for alternatives to be considered using template based design and scheduling technology.

· Portfolio Modelling and Optimisation for capital project selection and scheduling by leveraging the power of Cloud computing.

· Performance Diagnostics by relating the business variables and logic in a model.

· Mine Technical System Enterprise Architecture design and implementation.

TEST YOUR OPTIONS TO ENHANCE DECISION MAKING T +27 11 595 2500 E [email protected]

www.cyesttechnology.com


AUStRAlIA nEws sToriEs

BHP Billiton spin off company, South32 has announced that it has been admitted to the Official List of the Australian Securities Exchange (ASX) and that its ordinary shares have commenced trading on a deferred settlement basis.Graham Kerr, South32’s Chief Executive Officer, said he is very proud of South32’s heritage and thanked shareholders

for the trust they have placed in the management and staff of this new company.“Today is a significant occasion; one that we are pleased to be celebrating in what are otherwise challenging times for the resources sector. South32 will start life with a strong balance sheet, along with high quality, well maintained, cash generative assets and highly talented people. We will work hard to maintain the trust of our owners and partners as we seek to unlock the potential of our assets and grow value for our shareholders and the communities in which we operate.”“We believe that our regional model will enable us to improve our productivity and performance in a sustainable way. We will aim to combine strong operational performance with financial discipline as we seek to increase shareholder value.”South32 will have a secondary listing on the Johannesburg Stock Exchange (JSE) and its ordinary shares have commenced trading on the JSE on a normal settlement basis shortly.

SOUtH32 MAKES ASX dEBUt

59

Construction of the 60,000 seat new Perth Stadium reached another important milestone when the first concrete slab on the ground level was poured.The pour is one of many that will be undertaken over the next 13 months as the five-tiered Stadium structure is constructed. This concrete, along with more than 2,300 concrete piles, will provide the necessary structural support.The Minister for Sport and Recreation,

Mia Davies was on site to provide the final finish to the first slab and was delighted to celebrate another important milestone for the project.Across the Burswood Peninsula site construction remains on schedule with a current workforce of approximately 100. The workforce will peak in mid-2016 and during the three year construction phase approximately 5,700 are expected to be involved in the project.

nEw PErTh sTAdium rEAChEs An imPorTAnT milEsTonE


AUStRAlIA nEws sToriEs

Koolan Island has been identified as a new logistics base to service the oil and gas industry in Western Australia.Mount Gibson Iron has announced it has entered into an agreement with logistics and infrastructure provider Qube Holdings to progress plans for the Koolan Island Logistics Base (KILB), an enterprise which would generate a long term income stream for the troubled mining operation.The iron ore miner was forced to suspend operations in the main pit at the Koolan Island mine due to pit wall instability identified in October 2014, which led to a collapse of the seawall and subsequent flooding of the pit.Development of the proposed facility would include a helicopter refuelling and maintenance station, air search and rescue base, an all-weather

runway, deep water marine terminal and accommodation.Mount Gibson noted that the KILB development would not restrict repairs to the Main Pit seawall or resumption of iron ore production “should a technically and economically robust solution be identified”.The Koolan Island site was considered a “highly favourable” location thanks to its proximity to oil and gas developments in the Browse Basin, and existing infrastructure on the island which would minimise the need for environmental disturbance.Mount Gibson said the project would provide an opportunity for further collaboration with the Dambimangari Traditional Owners, continuing their decade long relationship.

KOOlAN ISlANd IdENtIFIEd AS A NEW OIl & GAS lOGIStICS HUB FOR WA

61

“In addition to delivering improved air safety and rescue capability and material operating cost savings to oil and gas operators in the Browse Basin, development of the KILB also has the potential to support the further economic development of Derby as a major regional centre and the West Kimberly generally,” the company said.Commencement of helicopter and other

aircraft services are expected to be possible within 12 months of a decision to proceed with the project, dependant on feasibility work and regulatory approvals.Mount Gibson said preliminary discussions with key stakeholders had been positive, which included local and state government and prospective end users.


AUStRAlIA

BRISBANE AIRPORt

63

BRISBANE AIRPORt

A premier gateway airport and major multimodal transport hub entering ‘the most exciting phase in its history’

Operating 24 hours a day, seven days a week, BNE has two major terminals servicing 26 airlines flying to 67 destinations. It is a suburb in its own right, the largest airport in Australia by land size (2,700 hectares), the second-busiest capital city airport in Australia by aircraft movements (219,904 FY14) and the third-largest airport in Australia by passenger numbers with more than 22 million passengers travelling through the airport in 2014.The vision for BNE is not just to simply serve its purpose as a gateway to Australia, it’s to be the preferred choice for passengers, airlines, business and the community.

AIRPORt MANAGEMENtSince 1997, the airport has been owned and managed by Brisbane Airport Corporation Pty Limited (BAC). Its focus has always been on community, sustainability, education, knowledge and economic growth, adopting world-leading technologies, systems and practices.BAC is a proud, non-listed, private Queensland company with shareholders including QIC, IFM Colonial, MTAA Super, other financial institutions and Amsterdam Airport Schiphol.

A look at the numbers behind Brisbane Airport (BNE) shows how vital the airport is to the Australian economy.


AUStRAlIA

Leonie Vandeven, Media and Corporate Communications Manager of BAC, explains this further: “This shareholder composition means that approximately 80 per cent of BAC’s shareholders are ultimately Australian ‘mums and dads’ with their savings invested in superannuation and other funds,” she says.In that time, over $1.5 billion has been pumped into infrastructure improvement, with a further $3.8 billion planned for the next decade. This work will include improving and adding to the airport precinct and

erecting a $1.3 billion new parallel runway system. With passenger numbers also forecast to more than double by 2034, it is no surprise that Vandeven believes BNE is on the cusp of “the most exciting phase in its history.”Already, 420 businesses are located at BNE, servicing a diverse range of industries offering freight and aircraft handling, warehousing, transport and communications, manufacturing, research, property and infrastructure development, education and training, recreation, tourism, leisure and retail.

65

Collectively these businesses employ around 21,000 people, a number expected to exceed 50,000 by 2029.BAC has a relatively small workforce of around 500 people, which more than doubles to 1,200 when taking into account the work of contractor staff in the facility.

INFRAStRUCtURE INVEStMENtWork is already underway on the $45 million redevelopment of the departures and arrivals areas at the International Terminal with a specific

focus on capturing the character of Brisbane and Queensland, with a specific focus on the state’s unique outdoor lifestyle. BNE has used local materials where possible to support Queensland or Australian suppliers.This includes Arkhefield Architects, which has contributed to the project immensely. Local artists Sally Gabori and Sebastian Moody have been commissioned to provide spectacular artworks while the redesign will enable more space for seating, relaxation areas and specialty retail stores, as well as the construction of the new JR/Duty Free walk-through store which opened September 2014.Alongside this, the largest aviation infrastructure development of its type in Australia is also being undertaken at BNE as the New Parallel Runway (NPR) takes shape. Located two km west of the existing main runway, the NPR will be 3.3 km long, 60 metres wide and have more than 12 km of taxiways, navigational aids, airfield infrastructure and hundreds of hectares of airfield landscaping.Vandeven continues: “Scheduled for completion in 2020, the NPR will deliver regional economic benefit of around $5 billion a year by 2035 with an estimated 2,700 jobs created during peak construction. It will also enable BNE to maximise the number of flights that can arrive and depart over Moreton


AUStRAlIA

DESIGNING + DELIVERING THE BUILT ENVIRONMENT

Arkhefield is an architecture and interior design practice based in Brisbane with a focus on delivering projects across regional and metropolitan Queensland.

Over 20+ years, our practice has grown organically through a collaborative and integrated approach to designing and delivering the built environment. We work collectively with our clients and contractors to share the opportunity and responsibility in creating quality design and delivering successful outcomes with every project.

Our practice is people-based and client-focused. We’re driven by fresh ideas and a clearly defined process. We cultivate collaboration and innovation through a positive and inclusive work culture—a mutual journey of discovery combined with an integrated process of delivery. We provide clarity and certainty for our clients and contractors from brief through construction to occupation.

We’ve always focused on the bigger picture and the broader objective—for our clients and their projects. Our aim has always been to create places and spaces that are unique and make a positive contribution to the fabric of society.

Our work is respected across multiple sectors—from commercial and workplace, to cultural and residential. We have been widely recognised and published for our contribution to architecture and interior design.

P. 07 3831 8150W. ARKHEFIELD.COM.AU

ARCHITECTURE +INTERIOR DESIGN

BRISBANE AIRPORT INTERNATIONAL TERMINAL RETAIL UPGRADE

Arkhefield are proud to be associated with Brisbane Airport Corporation (BAC) and to contribute to the airport’s built environment. We are pleased to have been involved in numerous projects for BAC; from building a vision with the Property Master Plan delivered jointly with ARM Architecture, redefining the retail experience with the International Terminal Upgrade in collaboration with Richards & Spence, the refurbishment of the International Terminal Airline Lounges and most recently the Domestic Terminal Retail Upgrade.

Building on our experience in commercial, retail and transit projects, our involvement in the international retail upgrade involves a substantial redevelopment of the arrival and departure areas of the terminal to ultimately create a world class user experience. Seamless passenger processing is essential to the success of our projects, passenger experience and terminal operations. Our carefully staged design and delivery methodology ensures all essential operations; security, customs, immigration and quarantine activities, continue to operate unhindered throughout construction.

We are delighted to be part of an exciting team at BAC, working to establish a unique sense of Brisbane within all the elements of our projects’ development, while pursuing the vision of a world class environment for travellers.

Brisbane Airport Masterplan developed in conjunction with ARM Architecture

420 FLINDERS STREET

TOWNSVILLE CRUISE PORT TERMINAL

BRISBANE AIRPORT MASTERPLAN

67

DESIGNING + DELIVERING THE BUILT ENVIRONMENT

Arkhefield is an architecture and interior design practice based in Brisbane with a focus on delivering projects across regional and metropolitan Queensland.

Over 20+ years, our practice has grown organically through a collaborative and integrated approach to designing and delivering the built environment. We work collectively with our clients and contractors to share the opportunity and responsibility in creating quality design and delivering successful outcomes with every project.

Our practice is people-based and client-focused. We’re driven by fresh ideas and a clearly defined process. We cultivate collaboration and innovation through a positive and inclusive work culture—a mutual journey of discovery combined with an integrated process of delivery. We provide clarity and certainty for our clients and contractors from brief through construction to occupation.

We’ve always focused on the bigger picture and the broader objective—for our clients and their projects. Our aim has always been to create places and spaces that are unique and make a positive contribution to the fabric of society.

Our work is respected across multiple sectors—from commercial and workplace, to cultural and residential. We have been widely recognised and published for our contribution to architecture and interior design.

P. 07 3831 8150W. ARKHEFIELD.COM.AU

ARCHITECTURE +INTERIOR DESIGN

BRISBANE AIRPORT INTERNATIONAL TERMINAL RETAIL UPGRADE

Arkhefield are proud to be associated with Brisbane Airport Corporation (BAC) and to contribute to the airport’s built environment. We are pleased to have been involved in numerous projects for BAC; from building a vision with the Property Master Plan delivered jointly with ARM Architecture, redefining the retail experience with the International Terminal Upgrade in collaboration with Richards & Spence, the refurbishment of the International Terminal Airline Lounges and most recently the Domestic Terminal Retail Upgrade.

Building on our experience in commercial, retail and transit projects, our involvement in the international retail upgrade involves a substantial redevelopment of the arrival and departure areas of the terminal to ultimately create a world class user experience. Seamless passenger processing is essential to the success of our projects, passenger experience and terminal operations. Our carefully staged design and delivery methodology ensures all essential operations; security, customs, immigration and quarantine activities, continue to operate unhindered throughout construction.

We are delighted to be part of an exciting team at BAC, working to establish a unique sense of Brisbane within all the elements of our projects’ development, while pursuing the vision of a world class environment for travellers.

Brisbane Airport Masterplan developed in conjunction with ARM Architecture

420 FLINDERS STREET

TOWNSVILLE CRUISE PORT TERMINAL

BRISBANE AIRPORT MASTERPLAN


AUStRAlIA

“The runway site was once part of the Brisbane River delta and one of the key challenges in preparation for laying the foundations of the runway and taxiways, has been the need to consolidate the existing soft sub-soils on the site, which is now complete.”On completion of this project, Brisbane Airport will have a runway system with the capacity of major international airports like Hong Kong or Singapore.

dOMEStIC tERMINAl SOUtHERN APRONBNE is also redeveloping and expanding the Domestic terminal Southern Apron at a cost of $44 million. This includes the construction of new apron pavement and the addition of new parking bays. The project commenced in January 2014 and is due for completion in June 2015.The expansion will mean BNE is the first Australian airport to have dual apron taxi lanes for increased efficiency for both arriving and departing aircraft.

SUStAINABIlItyDue to the nature of the aviation industry, BAC is acutely aware that reducing the impact on the environment wherever possible is crucial. To this end, the company adopts a global perspective which reaches well beyond ‘risk and compliance’.“BAC’s focus is on the responsible development of the airport precinct in a way that meets the needs of present

generations and is viewed with pride by future generations,” says Vandeven.“We are committed to treading lightly on the land and putting in place programs that help us manage and minimise the long-term impacts of climate change and adverse environmental impacts from aviation and property development activities.”To achieve this, BAC has a dedicated team of environmental specialists in place. This intense focus has paid off. In the last 18 months, the company has received seven sustainability related awards, certificates or accreditation including:• Airports Council International (ACI) presenting BAC with a Level 1 Mapping Airport Carbon Accreditation certificate• An EarthCheck Bronze benchmarked status• The first ever Green Building Council of Australia (GBCA) Green Star – Communities rating• The Healthy Waterways ‘Sustainable Water Management’ Award• The 2014 Premier’s Sustainability Awards - Business Eco-Efficiency Award• The Queensland Engineering Excellence Award for Environmental Management of the New Parallel Runway• 2013 Lord Mayor’s Business Awards – Award for Sustainability

69

in Business“Embedding eco-efficiency initiatives and values into the business provide significant cost savings and the guarantee of supply as the airport grows,” continues Vandeven. “By gaining a better understanding of how energy and water is consumed at the airport and implementing initiatives that help BAC be more resource efficient, we are able to effectively grow our business without dramatically increasing our natural resource consumption. This is particularly the case for energy and potable water consumption initiatives.”

BRIGHt FUtUREBrisbane Airport employs a digital strategy aimed to assist and

support ‘the connected traveller’ through providing a seamless digital experience with real-time, relevant content across a number of virtual channels. This has included practical measures such as the launch of a new BNE app, access to free Wi-Fi in terminals and innovative self-check and baggage drop options.BAC’s robust and ambitious growth plans ensure that it is optimally primed for future success. It’s bold investments into infrastructure over the next decade will see significant investment in road and ground transport, the new runway and taxi system, major expansion and upgrade projects at both terminals, new car parks and non-aeronautical land and building development.


AUStRAlIA

71

C Ity OF SydNEy

guiding the way to keep sydney Australia’s prime city moving forward

The City of Sydney is the local government authority responsible for the city centre and more than 30 suburbs. This area covers just over 26 square kilometres extending from Sydney Harbour at Rushcutters Bay, to Glebe and Annandale in the west, from Sydney Park and Rosebery in the south to Centennial Park and Paddington in the east.It provides services for more than 180,000 residents and 20,000 businesses, as well as the daily influx of workers and visitors into the City. On any given day, the local population swells to more than 1 million with people commuting, doing business, shopping, playing, studying, or experiencing the sights of Sydney.These services extend from running a network of libraries, street cleansing, maintaining roads, assessing development applications, collecting waste and recycling, maintaining parks, playgrounds and gardens, sports venues and community centres.

Sydney is world renown for its vibrancy, multiculturalism and natural beauty. The state capital of New South Wales is the most populous

city in Australia and Oceania. With its rich history, internationally-recognised tourist attractions and exciting calendar of events, it is vital that the city is run effectively.


AUStRAlIA

The City of Sydney’s remit is simple: to advance and enhance its reputation as Australia’s premier city on a global level. It does this through:• encouraging, fostering and providing small business support• delivering innovative design and major redevelopment projects• producing, maintaining and supporting a range of public art projects• making sure the City’s many beautiful buildings, landmarks and heritage are preserved• funding major events such as the Sydney Festival, the Sydney Mardi Gras, Biennale and the Sydney Writers’ Festival• producing internationally acclaimed events such as Sydney New Year’s Eve, Art & About and Chinese New Year

• promoting Sydney as a tourist destination and providing services for its visitors.

SydNEy 2030An important part of the City of Sydney’s work is focusing on what residents and businesses in the area believe would benefit the area. Back in 2007, the City of Sydney set out to ask both groups what they wanted to see in the next 20 years and beyond to achieve a collective vision for Sydney’s future development.“People told us they wanted a city that cares about the environment, has a strong economy, supports the arts and that connects its people to each other and the rest of the world,” it says. “As a result, Sustainable Sydney 2030 is now the cornerstone of everything we do.”

AUStRAlIA

73


75


Sustainable Sydney 2030 will make Sydney a green, global and connected city. “The City is fast becoming a leading environmental performer and our sustainability plan guides what we do – sustainable development is not just about the physical environment but it is also about fostering Sydney’s economy, society and culture into our plans.”

MAJOR dEVElOPMENtSTo ensure Sydney is always improving, the government authority is consistently undertaking improvement projects. Currently there are six major redevelopment sites across the local area, all in different stages of construction.One of the city’s biggest urban development projects is the

CONTACT US ON: T 02 8422 2000 F 02 9451 7600 E [email protected] www.enigmabp.com.au

• Combined total of 130 years of experience

• 100% Australian owned IT Specialist

• Distribution centres in Sydney, Melbourne, Brisbane and Perth

Offering the latest and best solution for your IT product and service requirements

AUStRAlIA

77

Ashmore precinct. Located in Erskineville and on the border of Alexandria, the 17-hectare site will be a new residential neighbourhood with local shops, cafés and a small supermarket.Work will continue over the next decade to eventually house around 6,000 residents. Along the way, new streets will be created (some with separated bicycle lanes), a large central park and systems to manage stormwater.Another area undergoing urban redevelopment is Barangaroo, a 22 hectare site formerly known as Darling Harbour east. Here, residential, retail and commercial buildings will eventually cater for up to 23,000 workers and 2,000 residents.

Plans for the area include a high-rise hotel, the location of which is being reviewed by Lend Lease – the developer for Barangaroo South precinct.Another area is Central Park, which occupies nearly 6 hectares on Broadway which is being transformed into a residential area, with some offices, shops and cafés.

GREEN SQUARE & HAROld PARKAs part of Sustainable Sydney 2030, an area named Green Square is set to become a true exemplar of green living with developments linked to recycled water, people linked to shops, parks, gardens and entertainment with bike and walking routes, and public transport.At the heart of the Green Square development is the new town centre, a major new residential, retail and cultural hub, with an investment of $440 million over the next 10 years. For the Harold Park regeneration, the City adopted new planning controls following extensive consultation with the local community to balance the interests of residents, businesses and the land owners, and the need to meet targets for new inner-city housing. This $1.1 billion project includes 1,250 new residences that will be home to around 2,500 people. These tomes will be close to light rail, new parks and nearly 2 kilometres of walking and cycling paths will connect Harold Park to the surrounding area. Using a former tram depot on the site, new homes will be able to use less energy and water, again contributing to the 2030 vision.


AUStRAlIA

CIty tRANSFORMAtIONAlong with multimillion dollar urban developments, the government works hard to introduce new measures to improve transport and connectivity. One of the city’s busiest streets, George Street, will undergo one of the biggest transformations ever seen in Sydney when the light rail line is introduced. The revamped street will become an easy way to travel between key attractions from the the harbour through the city centre to Chinatown. Along with this, the new Central Business Districy and South East

Light Rail will travel from Circular Quay along George Street to Central Station and on to Moore Park, then to Kingsford via Anzac Parade and Randwick via Alison Road and High Street.Functionality is important - but so is making Sydney an even more beautiful city. To this end, a $9.3 million plan is being undertaken to display public art in collaboration with renowned international curator, Barbara Flynn. The works are expected to be installed from 2017, in line with the implementation of the light rail line on George Street.

79WWW.ADTRANSHINO.COM.AU

CLASS LEADING SAFETY, PERFORMANCE, EFFICIENCY & COMFORT

THE ALL-NEW HINO 300 SERIES TRUCK...

Series

Oliver Moy PublisherFor enquiries [email protected]

BUSINESS COVERAGE

Documents

Business Coverage Issue 2