Dividing a weighted planar graph into $k$ subgraphs with balanced weight
If the graph is sparse, may be it's also bounded tree width. Then we can find the optimum cut by using dynamic programming for graphs of bounded treewidth1. To check whether it's a bounded tree-width or not there are some tools and you can use them. On the other hand, one (may be good) heuristic approach is finding maximum spanning tree. This can be done by negating edge weights and running Kruskal algorithm to find MST. Because the graph is sparse then heaviest cuts along this tree are not bad, also good cut for tree can be found by bottom up dynamic programming approach. (I think it's in factor of at most 5 with high probability in most cases).

1: I didn't think about it, but seems to be as usual.