Adeleke Hails Tinubu, Alake as Osun Resolves Case with Thors Exploration over Segilola Shareholding.

Osun State Government’s long-standing case with Thors Exploration Limited was resolved amicably today by a meeting that involved Osun State Governor, Senator Ademola Adeleke, Minister of Solid Minerals, Dele Alake, and Thors Exploration’s management.

The meeting of the resolution of the dispute, convened by the Minister of Solid Mineral Development, brought both sides to consider four key areas of disagreements raised by the Osun State Government against Thors Exploration.

As contained in a statement issued by Olawale Rasheed, the Governor’s aide, the points of contention were the settlement of Osun’s stake in the Segilola Mining Company, tax liability of the company, environmental issues, and issues relating to mining fields.

While delivering his address to the Minister and the Ministry officials, Governor Adeleke commended Minister Alake and the Federal Ministry of Mines 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 point.” He also acknowledged President Tinubu’s continued reforms in the mining sector, stating,

“We have drawn inspiration from the presidential reform initiatives to implement our own at the state level. I am pleased to be able to say that this resolution is one of the positive spin-offs of these reforms.”

The Governor mentioned that the action by the state government to sue Thors Exploration was not impulsive, pointing out that the action of the Ministry had resulted in a favorable consequence.

He further added, “As Governor, I am personally committed to having good relationships with investors. Osun is open for investment, and we have investors across all sectors.”

Alake, in response to the statement, reaffirmed his determination to resolving the matter and highlighted the imperative of peace and cooperation towards attracting and sustaining foreign investment in the mining sector. He talked of the Federal Government’s efforts towards wooing major mining investors and appealed to both the state and Thors Exploration to come together for the collective development of Osun.

Following a tripartite meeting, the parties reached agreement on several key issues, including the transfer of the state’s shareholding in Segilola Mining into the Governor’s hands, and the exchange of information on tax obligations, environmental damage claims, and disputes on mining fields.

One of the highlights of the meeting was the formal presentation of the Osun State shareholding certificate to Governor Adeleke, marking the resolution of the controversy.