NEWS RELEASE I 15 FEBRUARY 2024
SOVEREIGN APPOINTS EXPERIENCED LEAD
ESG OFFICER AND ADVANCES ESIA
Sovereign Metals Limited (ASX:SVM;
AIM:SVML) (the Company or Sovereign) is pleased to announce the
appointment of highly experienced environmental and social
specialist Mr Marco Da Cunha, as its new Lead Environmental, Social
and Governance (ESG)
Officer.
Mr Da Cunha has almost 20 years of
experience in the field of environmental and social management,
including over a decade preparing Environmental and Social Impact
Assessments (ESIAs), and
Environmental Management Plans, for mining projects. In addition,
Mr Da Cunha has specialist experience in Social Impact Assessments,
and Management Plans, for large scale mining, oil & gas, and
infrastructure projects, throughout Sub-Saharan Africa.
Recently, Mr Da Cunha was part of
Rio Tinto's Simandou iron ore project team in Guinea. Simandou is
the world's largest undeveloped high-grade iron ore deposit, and
its development will be the largest greenfield integrated mine and
infrastructure investment in Africa. Mr Da Cunha's role at Simandou
involved functioning as international support to the Simandou Mine
Communities and Social Performance Manager in Guinea, and the
support and development of the social management
strategy.
Kasiya's ESIA will now advance
following the appointment of Mr Da Cunha. Sovereign has previously
completed site surveys by specialist environmental and social
consultants in August 2021, May 2022, and October 2023. These
surveys provide a solid basis from which to advance the
ESIA.
Kasiya's ESIA will be undertaken in
compliance with relevant Malawian legislation, regulations, and
standards; in particular, the Environmental Management Act (No. 19
of 2017) and Guidelines of Environmental Impact Assessment (DEA,
1997). The project also aims to meet international guidelines and
standards, including the IFC Performance Standards on Environmental
and Social Sustainability (IFC, 2012), the World Bank Group
Environmental, Health and Safety Guidelines (WBG, 2007), and the
Equator Principles (Equator Principles Association,
2020).
Upon Mr Da Cunha’s appointment, Managing Director, Frank
Eagar commented: "Our ambition, with the
development of Kasiya, is to set the global standard in Climate
Smart Mining by bringing our low carbon footprint rutile and
graphite products to market, while realising real-world community
and environmental benefits. In order to achieve this, we have
attracted the best talent and experience in the ESG field. Marco's
appointment has bolstered our Owners Team's ESG capability bringing
exemplary experience in environmental and social management for
large-scale African mine development projects aligning and
consolidating on the recent appointment of
SocialEssence."
ENQUIRIES
Frank Eagar (South
Africa/Malawi)
Managing Director
+61(8) 9322 6322
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Sam Cordin (Perth)
+61(8) 9322 6322
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Sapan Ghai (London)
+44 207 478 3900
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Nominated Adviser on AIM and
Joint Broker
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SP Angel Corporate Finance
LLP
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+44 20 3470 0470
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Ewan Leggat
Charlie Bouverat
Harry Davies-Ball
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Joint
Brokers
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Berenberg
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+44 20 3207 7800
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Matthew Armitt
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Jennifer Lee
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Buchanan
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+ 44 20 7466 5000
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Forward Looking Statement
This release may include forward-looking statements, which may
be identified by words such as "expects", "anticipates",
"believes", "projects", "plans", and similar expressions. These
forward-looking statements are based on Sovereign's expectations
and beliefs concerning future events. Forward looking statements
are necessarily subject to risks, uncertainties and other factors,
many of which are outside the control of Sovereign, which could
cause actual results to differ materially from such statements.
There can be no assurance that forward-looking statements will
prove to be correct. Sovereign makes no undertaking to subsequently
update or revise the forward-looking statements made in this
release, to reflect the circumstances or events after the date of
that release.