Sovereign Metals : ESG Framework Advances Social Initiatives in Malawi
Updated Scoping Study incorporating the upgraded resource is due for completion in the coming weeks Environmental, Social and Governance (ESG) framework established to advance Sovereign's Sovereign continues to undertake several initiatives to assist in the development of Malawi and its Promoting education in Malawi through a Schools Upgrade Program and creation of a Advancing local community infrastructure including construction of a new Community Centre at Malingunde and commissioning of water bores across the Company's licence area to provide Establishing international standard mining industry facilities with the construction of an Employment of a diverse workforce and developing key exploration and mining-applicable skills Continuing engagement with key stakeholders from local communities through to Government
Sovereign aims to become an industry leader in social responsibility having successfully worked with communities in Malawi over the last decade who remain highly supportive and are well Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign) continues its development of the Kasiya rutile project (Kasiya), the largest rutile deposit in the world, the Company is pleased to announce that it has taken proactive steps to establish ESG frameworks to become an industry leader in its corporate social responsibility in Malawi. ForSovereign remains committed to making informed choices in line with our strong corporate governance, financial capabilities, operational efficiency, environmental stewardship, stakeholder engagement and resource management. Sovereign's Managing Director Dr Julian Stephens commented: "Over the last decade Sovereign has worked very hard to establish and maintain a strong and positive social licence to operate in Malawi. Sovereign has identified four schools in the neighbouring community of Kasiya which would significantly benefit from access to additional learning materials and upgrades to their learning environments. Furthermore, Sovereign has established a scholarship program which will provide high school learners with sufficient support to reach their full potential. Sovereign regularly provides internships with students from the University of Malawi (Chancellor College) and the Mining Engineering Department of the Polytechnic. usepersonalThe facility has the ability to process over 80 drill samples per day with the processing controlled by QA/QC procedures, which includes a certified magnetic separation unit.
Government officials, they were very impressed with the high-standard and professionalism of the laboratory. Figures 3 & 4: Recording sample weights (L) and conducting magnetic separation (R) at the Company's laboratory Figure 6: Traditional dance at the opening ceremony of the community centre Sovereign has recently completed the construction of a new Community Centre in Malingunde. The Company currently employs 45 full time employees and is an equal opportunities employer with a gender diverse workforce. It is estimated during the operation of Kasiya it will create hundreds of direct jobs and significantly more indirect jobs in the community. Foradditional consumer spending generated by the new direct and indirect employment. Sovereign has structured training and skills transfer programs covering on-the-job training for full-time employees, as well as programs for local graduates and interns.
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How do you implement an ESG framework?
Before You Get Started
- 1: Conduct a Materiality Assessment. ...
- 2: Assess Current State (Baseline) ...
- 3: Set Objectives and Goals. ...
- 4: Analyze Gaps to Achieving Future State. ...
- 5: Develop a Strategic ESG Roadmap and Framework. ...
- 6: Set Action Plans and Measure Key Performance Indicators. ...
- 7: Report Progress.
