Sovereign Metals (ASX:SVM) has initiated a Conservative Farming Program in Malawi as part of its sustainability initiatives related to the development of its Kasiya Rutile-Graphite Project.
The $250.53 million market capitalisation company says local farmers will be trained in sustainable farming techniques to increase maize crop yield; protect soil from erosion and degradation; and to improve long term food security.
The initial program will see 90 Malawian maize farmers within the project area, of which at least 50% are female, take part and receive training in low-input, high-yield sustainable farming techniques. The aim is to provide a platform for the farmers to increase yield and productivity, therefore helping to reduce malnutrition and poverty.
According to the World Food Program, up to 5.4 million people in Malawi are subject to food insecurity, with many Malawians dependent on subsistence agriculture.
Further, 80% of Malawi’s population are smallholder farmers with livelihoods based on agriculture and subsistence farming, says the United States Agency for International Development.
Sovereign’s owner’s team have previously implemented this program at First Quantum Minerals’ Zambia operations where over 7,000 farmers were participating in the program by 2022.
Between 2020 to 2022 harvest crops increased by 67% from 6,000 tonnes to 10,000 tonnes of maize.
Supporting local communities in addressing their social priorities is a core principle of Sovereign’s environmental, social, and governance ESG strategy as the company advances the development of Kasiya.
Sovereign Metals is focused on the development of its Kasiya Project, which it says is the world’s largest undeveloped natural rutile and graphite project.
Rutile is the most common and stable form of titanium dioxide found in nature and is a key ingredient in paint and also a useful component in optical equipment, according to the Minerals Education Coalition.
Write to Adam Drought at Mining.com.au
Images: Sovereign Metals
