KG ready to roar for the Highveld Lions
Policy uncertainty and ideology are holding back the sector – chief executive
KAGISO Rabada has played 12 T20 matches for the Highveld Lions since making his debut in 2014. In contrast, he has steamed in 35 times for the Delhi Daredevils and Delhi Capitals and in the IPL.
However, for the next two weeks Rabada will be back in the red of his hometown team in the T20 Challenge starting today in Durban.
“It feels great being back where it all started. The Lions have been my home since I was 13-years-old. I grew up in this system and it feels good to be playing with guys who I haven't played with since my school days. I just want to contribute to a team that (has) always been really close to my heart,” Rabada said.
Rabada is among a host of Proteas who will sprinkle a bit of stardust on the T20 Challenge this year. In fact, it is only national captain Quinton de Kock and former skipper Faf du Plessis who have been granted leave from participating in the competition. Furthermore, the likes of Temba Bavuma, Rassie van der Dussen, Reeza Hendricks, Lutho Sipamla (all Lions), Anrich Nortje (Warriors), Kyle Verreynne, Janneman Malan, George Linde (all Cape Cobras), David Miller, Keshav Maharaj, Andile Phehlukwayo (all Dolphins), Aiden Markram, Dean Elgar, Tabraiz Shamsi, Lungi Ngidi, and Heinrich Klaasen (all Titans) will all be in action at Kingsmead over the coming days.
“The banter on our (Proteas) WhatsApp group is in full swing already,” Rabada said. “The guys are
always checking how their franchises are doing when we're on tour. The banter is really good. ‘What are the Lions doing?' ‘What are the Titans doing?' ‘When last have the Cobras won something?' So, the guys are really proud to represent their franchises and we're really looking forward to having a
crack at each other.”
It is not just provincial bragging rights that are at stake, but there is also the not so small matter of a T20 World Cup scheduled for India later this year. Convenor of selectors Victor Mpitsang and coach Mark Boucher will no doubt be a keeping a close eye on performances over the next fortnight, and also more importantly how an individual fits into the overall team plans of the Proteas.
An interesting conundrum is the dilemma over De Kock's opening partner. Bavuma strode out with the captain during the England home T20 series, but with both being sent home to quarantine ahead of the now postponed Australia Tests it opened the way for Hendricks and Malan to get the innings underway in Pakistan.
The latter pair both put in couple of solid performances without setting the world alight, but it has left the Lions, in particular, with a conundrum. The Lions have previously paired Hendricks with young Ryan Rickelton, who was also in Pakistan as the back-up opener, with great success, leaving Bavuma to come in at No 3 followed by Van der Dussen.
But with Bavuma seemingly the Proteas' first-choice T20 opener alongside De Kock, have Boucher and Mpitsang been in communication with Lions coach Wandile Gwavu?
“Those chats happen more so at the beginning of the season, but as the season progresses they become very minimal. I think the reason for that is that the national coach respects our way of working,“Gwavu said.
“We have our own ideas here at the Lions. We do want to help the national side, but we will play it as we see it. The communication does take place and I think Boucher and Vic will definitely respect that. We do stay in contact and let's call it if they need a 'favour' about a certain player. But from our side we do it the Lions way.”
The competition kicks off with a double-header today with the Titans facing the Knights (10am) before the Dolphins host the Cobras (2.30pm). The Lions open their campaign tomorrow against the Warriors (10am) before the Knights are again in action against the Dolphins (2:30pm).
But
SIBANYE-STILLWATER has committed to investing R6.8 billion in three capital projects expected to create 7 000 jobs as the group posted record cash flows and strong profits during the year to the end of December 2020.
The group said yesterday that its board had approved the development of the K4 and Klipfontein projects in Rustenburg, North West, and the resumption of capital development of the Burnstone gold projects in Balfour, Mpumalanga.
Chief executive Neal Froneman said the group was, however, concerned that South Africa’s current policy and ideology continued to inhibit investment, and said there was a critical need to address investment barriers to drive an economic recovery.
“Continued policy uncertainty, combined with other risks, such as those related to the reliability of water and power availability and the uncertain outlook for electricity costs, as well as risks of social disruption and inefficient regulatory processes, are ongoing deterrents to significant investment,” Froneman said.
Froneman said the uncertainty had been apparent in previous commodity upcycles, where only projects with an extremely strong commercial case could be justified, resulting in South Africa lagging behind the rest of the world in terms of investment in and the growth of its mining sector.
Earlier this month, Minerals Council chief executive Roger Baxter said R20bn in potential investment opportunities would be available in a supportive environment, but the environment was not supportive.
“As you can see from the investments we have just declared, this number is likely to be conservative. A significant effort is going to be required to revitalise and reboot the mining industry and, with it, the national economy,” Froneman said.
He said the industry had the potential to drive much-needed growth.
“Right now, we are in a commodity super cycle, and there is a significant potential for the mining industry to contribute to the economic growth of South Africa.”
The development of K4 would entail the completion of the project, which was significantly advanced by the previous owners, Lonmin, which sunk capex of R4.4bn into the project before suspending it due to capital constraints.
Klipfontein is scheduled for development in terms of the existing “pool and share agreement” with Anglo
American Platinum at the Kroondal operations. About 4 380 jobs were expected to be created once K4 reaches steady state production, and 124 other jobs will be created at the Klipfontein project. Burnstone, which was previously operated by Great Basin Gold, is expected to ramp up over five years to a steady state production of about 130 000 ounces a year for 10 years.
The operation was expected to create 2 500 permanent jobs in an area faced with an unemployment rate
exceeding 30 percent.
“The projects we have approved are among the best in the industry due to specific characteristics which enhance their attractiveness and support the investment decision,” said Froneman.
The group recorded an adjusted free cash flow of R19.9bn, 63 times more than the R318m posted in 2019.
Shareholders were rewarded with a dividend of 321 cents a share, or about R9.375bn, during the six months to the end of December 2020, and an interim dividend of 50c a share, bridging the total dividend to 371c a share.
Group revenue surged 47percent to R72.3bn ($4.43bn), mainly due to higher commodity prices partially offset by lower sales volumes at the South African operations.
Profit attributable to the owners of Sibanye-Stillwater increased to R29.3bn from R62m in 2019.
Sibanye-Stillwater’s shares declined 0.86 percent to close at R68.80 on the JSE yesterday.