As part of its environment, social and governance (ESG) initiatives, Aim-listed Keras Resources has announced it will contribute 0.75% of manganese sales revenue from the Nayéga mine, in Togo, once it is developed, to be used for community projects in the vicinity.
The contribution will be made to public treasury to be used for community, environmental and sustainability projects.
The funds will be managed by a committee comprising community leaders, representatives of the Ministry of Mines and Energy and a representative from Keras' 85%-owned subsidiary Société Générale de Mines (SGM).
Additionally, Keras and SGM, which owns 100% of the mine, will establish the Nayéga Foundation.
Keras intends to contribute 5% of its attributable net profit from SGM to the Nayéga Foundation on an annual basis.
The company is currently focusing on establishing the appropriate ESG framework and structures in Togo to support the foundation and the communities in the vicinity of the Nayéga manganese mine.
Keras CEO Russell Lamming says executives are on site to meet with community leaders and a delegation from the Ministry of Mines to ensure an open and inclusive process for the development of the foundation.
The first project in the community will involve four water stations to provide clean water for both the community and their livestock.