Osun State secures major milestones in mining sector negotiations

Osogbo, Nigeria – Osun State achieved major progress in mining sector negotiations with Thor Explorations Limited, as announced by Governor’s spokesperson Mallam Olawale Rasheed via the state’s official X account.

The discussions yielded resolutions prioritizing mutual cooperation and protecting Osun’s economic interests, signaling a transformative phase for the state’s mining industry.

Central to the agreement, the government transferred Thor Explorations’ share certificate, formalizing Osun’s shareholder status.

Simultaneously, Thor Explorations agreed to pay 1.2 billion Naira in undisputed PAYE taxes, addressing pending financial obligations.

Furthermore, Osun State presented an environmental audit report to resolve ecological concerns, with the Federal Ministry of Solid Minerals tasked to review related claims.

Regarding mining encroachment, both parties mandated federal authorities to investigate Segilola Resources’ alleged intrusion into Osun’s 88 cadastral units.

Additionally, stalled partnership talks between the state and Segilola resumed, aiming to resolve lingering disputes.

To enhance communication, both parties proposed establishing a liaison office to streamline tax-related correspondences for companies operating near Segilola’s sites.

Rasheed dismissed critics’ claims as unfounded, stressing that detractors sought to undermine the state’s progress.

“A new paradigm is here,” he declared, confirming Osun’s expanded shareholder rights in Thor Explorations beyond Tropical Mines Limited. He emphasized the state’s readiness to foster a productive operational climate while securing insider insights as stakeholders.

The spokesperson reiterated Osun’s commitment to leveraging this partnership for sustainable development, calling the resolutions a pivotal milestone. He expressed confidence that collaboration would unlock further growth, ensuring the state benefits from mining sector opportunities. By securing equitable earnings and improving oversight, Osun aims to balance economic gains with environmental and community safeguards.

Ultimately, these steps reflect Osun’s strategic focus on maximizing resource-driven prosperity while nurturing investor-friendly policies. The government’s proactive engagement underscores its determination to transform mineral wealth into tangible development outcomes. Through strengthened partnerships and transparent processes, Osun positions itself as a model for resource governance, prioritizing both progress and accountability.

Rasheed concluded by affirming the state’s resolve to counter misinformation, urging stakeholders to embrace this new era of cooperation. As Osun transitions from negotiation to implementation, the focus remains on delivering lasting benefits for residents and businesses alike. The outcomes highlight how strategic dialogue and firm advocacy can align corporate operations with public interest, setting a precedent for equitable resource management nationwide.

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