Sovereign Metals Says 350 Farmers Participate in Conservation Farming Program Near Malawi Graphite Project, Shares Rise 3%

MT Newswires Live06-24

Sovereign Metals (ASX:SVM) said 350 farmers participated in its conservation farming program harvest season at the Kasiya rutile graphite project in Malawi, and the yield surveys of all farmers who harvested their crops demonstrated four times higher than typical yields from conventional farming, according to a Tuesday Australian bourse filing.

The local farmers received training to increase maize crop yield, protect soil from erosion as well as degradation, and improve long-term food security. Around 50% of the participating farmers were female, per the filing.

Conservation farming is part of the firm's livelihood improvement initiatives for the Kasiya project.

The firm's shares rose 3% in recent trading on Tuesday.

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