Osun Government secures shareholding in gold mining site and ‘tax data’ amid FG’s mediation 

This was disclosed in a statement by Mallam Olawale Rasheed, Spokesperson for the State Governor, Ademola Adeleke, on Tuesday.

The development occurred during a mediation meeting between the governor and representatives from Segilola Resources Operating Limited (SROL), facilitated by the Minister of Solid Minerals Development, Dr. Dele Alake.

Naijaonpoint previously reported that the Federal Ministry of Solid Minerals Development had, on October 5, 2024, cautioned the Osun State Government against jeopardizing the Federal Government’s efforts to attract Foreign Direct Investments by closing down a mining site.

Alake was reacting to claims and counterclaims between the Osun State Government and Thor Explorations Limited, the owner of Segilola Resources Operating Limited (SROL), regarding alleged taxation and operational issues.

On September 30, 2024, the Osun State Government reportedly sealed the business premises of SROL, insisting that a court had ordered the state to confiscate the company for “flagrant tax violations” and other operational matters.

Alake vowed to address the dispute and restore industrial harmony by setting up a fact-finding team to make the state government understand that mining falls under the exclusive legislative list, and that the Ministry of Solid Minerals should be consulted before any disruptive actions by any state are taken against an investor.

According to the state government, the parties agreed to jointly work together to address four major areas of disagreement raised by the Osun State Government against Thor Explorations Limited, including the resolution of Osun’s shareholding in the Segilola Mining company, tax payments by the firm, environmental degradation, and disputed mining fields, among others.

“After a closed tripartite meeting, resolutions were reached on the handing over of the state shareholding to the Governor and the 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,” the state government added.