Sovereign Metals rolls out sustainable farming initiative in Malawi in keeping with ESG strategy
Last updated: 19:24 25 Feb 2024 EST, First published: 19:19 25 Feb 2024 EST
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has initiated a conservation farming program in Malawi as part of the company’s sustainability goals around the development of its Kasiya Rutile-Graphite Project.
The company will facilitate the training of local farmers in sustainable farming techniques designed to increase maize crop yield, protect the soil from erosion and degradation, and improve long-term food security in the area.
Many people in Malawi are dependent on subsistence farming, with up to 5.4 million people suffering from food insecurity in the African nation, according to the World Food Program.
Meeting ESG strategy goals
Supporting local communities in addressing their social and economic priorities is a core principle of Sovereign’s ESG strategy.
The program is being spearheaded by SVM’s team on the ground, who have extensive experience with this kind of operation – the team previously worked on First Quantum Minerals Limited’s Zambian operations and conservation farming program.
Operating since 2010, crop harvests increased by 67% from 2020 to 2022 under the program’s guidance, with crop yields rising from 6,000 tonnes to 10,000 tonnes of maize and over 7,000 farmers participating in the program.
Main image: Sovereign team members conducting conservation farming training.
