In a significant development for Osun State, Governor Ademola Adeleke announced the resolution of a long-standing dispute with Thors Explorations Limited regarding the Segilola Mining Company. This breakthrough occurred during a conflict resolution meeting facilitated by the Minister of Solid Minerals, Dele Alake, which took place in Abuja.
The discussions focused on four key areas of contention raised by the Osun State government: the resolution of the state’s shareholding in Segilola Mining, tax obligations, issues surrounding environmental degradation, and disputes regarding mining fields. The meeting brought together Governor Adeleke, Minister Alake, and the management of Thors Explorations, culminating in a cooperative agreement aimed at fostering a better relationship between the state and the mining firm.
Governor Adeleke expressed gratitude towards the Ministry of Solid Minerals for their swift intervention, stating, “As a responsible regulator of the solid mineral sector, I commend your prompt action which has brought us to this stage.” He also acknowledged the efforts of President Tinubu in reforming the nation’s mining sector, indicating that these reforms have inspired similar initiatives at the state level.
The governor emphasized the importance of maintaining cordial relations with investors, stating, “Osun is open for investors.” He reassured the Minister and the stakeholders that the state government is keen on nurturing partnerships that will enhance the mining sector’s growth and development.
Minister Alake echoed these sentiments, highlighting the federal government’s commitment to attracting significant mining investments. He stressed that both the state and Thors Explorations must collaborate for mutual development and sustainability in the mining sector.
The meeting concluded with a significant milestone: the presentation of the Osun shareholding certificate to Governor Adeleke, signifying a new chapter in the relationship between the state and Thors Explorations.
This resolution marks a positive step forward for Osun State, paving the way for greater investment and sustainable development in its mining sector.
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NEWS RELEASE
Osun Secures Segilola Shareholding as Governor Adeleke Praises Tinubu, Alake
ABUJA – 25/03/2025 – Osunstate.gov.ng
The long-running battle between Osun state government and Thors Explorations firm was today amicably resolved in the presence of the Osun State Governor, Senator Ademola Adeleke, the Minister of Solid Minerals, Dele Alake, and the management of the Thors Explorations company.
After a conflict resolution meeting initiated by the Minister of Solid Mineral Development, the parties agreed to jointly work together to address four major areas of disagreement raised by the Osun state government against Thors Explorations Limited.
The issues listed by the state government include resolution of Osun shareholding in the Segilola Mining company, tax payment by the firm, environmental degradation, disputed mining fields, among others.
Governor Adeleke in his address to the minister and management team of the ministry commended the minister and the Federal Ministry of Mines for the intervention, adding that “As a responsible regulator of the solid mineral sector, I commend your prompt action which has brought us to this stage.
“I must through you commend Mr. President for the ongoing reforms of the nation’s mining sector. We took hints from the presidential reform initiatives in the mining sector to launch our own reforms at the state level. I am happy to state that this is one of the fruits of those reforms,” the minister noted.
The governor clarified that the state government did not just wake up one day to challenge Thors Explorations Limited and expressed happiness that the intervention of the Ministry has produced positive results.
“As a Governor, I am personally interested in fostering cordial relations with investors. Hence we have several investors across the sectors. Osun is open for investors,” the governor told the ministry team.
Mr. Alake in his response assured the Governor of his determination to resolve the matter today as he explained the need for peace and cordial relations to attract and sustain foreign investment in the mining sector.
Explaining the efforts of the Federal Government to attract big mining investors into the country, Alake said both Osun and the mining firm should cooperate for the common development of the state.
After a closed tripartite meeting, resolutions were reached on handing over of the state shareholding to the Governor and an agreement to exchange data on tax claims, environmental damages, and claims on mining fields.
The major highlight of the meeting was the presentation of the Osun shareholding certificate to Governor Adeleke.
Signed:
Mallam Olawale Rasheed,
Spokesperson to the State Governor
