Mediation Report In Osun, Thor’s Dispute Excites Adeleke

Governor Ademola Adeleke has commended the progress made in the state’s dispute with Thor’s Explorations Limited, affirming that mediation has confirmed the reality of most of the state government’s demands.

The governor responded after receiving a preliminary report from the state team led by the Special Adviser to the Governor on Mining and Mineral Matters, Prof. Lukuman Jimoda, Adeleke, said it is excellent news that Thors Limited has eventually produced a written certificate of Osun state shares in the Segilola Gold Project.

He added that the intermediation has also made Segilola, the operator of Thor Explorations, accept the responsibility of opening all its accounting records for examination on the N3.25 billion tax assessment by Osun state, in line with Personal Income Tax Act section 58 (2).

On the update on payment of tax indebtedness to the state by Thors Exploration Limited, which required further documentation from the state, the governor directed his team to submit all the necessary data and records, insisting that “Osun has legitimate PAYE tax demands which Thors firm must fulfil.

Earlier, Prof Jimoda submitted a report on the mediation meeting between Thors’s management and the state government, supervised by the intervention team set up by the Minister of Mines Development, Mr Dele Alake.

He told the governor that the meeting achieved significant milestones for Osun state, especially on the issues of shareholding, payment of monetary implications, continuous discussion on the exact tax indebtedness, and consensus on the need for environmental remediation.

The adviser, however, said the meeting did not address the many court cases involving the disputes. In due course, disputing parties will hold a follow-up meeting in Osun State.