The Chief Executive Officer of Thor Explorations Ltd, Mr. Segun Lawson, has commended the Minister of Solid Minerals Development, Dr. Dele Alake, for his decisive intervention in resolving the company’s dispute with the Osun State government in Southern Nigeria.
Speaking in an exclusive interview with Voice of Nigeria, Mr. Lawson expressed satisfaction with the findings of the ministerial fact-finding report.
“We are very pleased with the report. Since the allegations surfaced between late September and early October, a committee was set up to investigate, and the fact-finding report confirms that we have done nothing wrong. We look forward to fostering an amicable relationship with Osun State and continuing our operations in a mutually beneficial manner. I am deeply grateful to the Minister for his foresight in facilitating a peaceful resolution,” Mr. Lawson stated.
Mr. Lawson underscored the significance of presenting a shareholding certificate to Osun State, emphasizing the long-standing partnership between Thor Explorations and the State.
“These shares were issued to Osun State in August 2016, nearly nine years ago. Over this period, the project has undergone various phases—from exploration and feasibility studies to construction and full-scale production. Our initial priority was repaying the project loans, which were facilitated by the Africa Finance Corporation. Now that those loans have been settled, we are excited to commence the distribution of dividends to our shareholders, including Osun State. The official presentation of the certificate was a symbolic acknowledgment of the state’s stake in the project and our commitment to aligning with our host communities for mutual development,” he explained.
Thor Explorations’ Methodical Approach To Gold Discovery
Providing insights into the company’s gold exploration strategy, Mr. Lawson detailed the meticulous and risk-mitigating methodology employed to identify viable gold deposits.
“For gold exploration, we adopt a multi-stage approach to minimize risks before committing to full-scale drilling. Our process begins with extensive desktop research, analyzing regional magnetic data and geological mapping to identify promising sites.
Once potential areas are identified, we conduct ground truthing by visiting these sites to observe geological features such as faulting and shearing. This is followed by soil geochemistry sampling, where soil and stream samples are analyzed for gold content in a laboratory. If the results are promising, we proceed to trenching to assess the mineral composition below the surface.” Mr. He explained.
Environmental Sustainability in Mining Operations
Addressing environmental concerns, Mr. Lawson emphasised Thor Explorations commitment to responsible mining, particularly in tailings management and waste rock disposal.
“Our environmental impact assessment (EIA) includes a comprehensive tailings management plan, which involves the development of a tailings storage facility to safely contain mining waste. All tailings are treated to neutralize residual chemicals, and we ensure that water used in the process is recycled, minimizing raw water consumption.
Additionally, our waste rock is carefully managed through organized waste rock dumps. We have also invested in a crusher that processes waste rock into stone dust and road-building materials.
These materials are then used to maintain mine roads and improve local infrastructure as part of our corporate social responsibility efforts.”
Lithium Exploration and Future Expansion
While gold remains Thor Explorations’ primary focus, Mr. Lawson highlighted the company’s ongoing lithium exploration efforts in Oyo State, Southern Nigeria. The company has secured a 600-square-kilometer portfolio and conducted preliminary drilling, which has yielded encouraging results.
“Our primary focus remains on gold, but we have also initiated lithium exploration in Oyo State. At present, we are prioritizing the development of our gold assets before expanding lithium operations. However, we are optimistic about Nigeria’s untapped potential and are committed to continuously exploring new opportunities in the country’s mining sector.”
Commitment to Nigeria’s Mining Potential
Beyond gold and lithium, Thor Explorations CEO said it remains steadfast in evaluating new mineral prospects across Nigeria, reinforcing its role as a pioneer in the nation’s emerging mining industry. The company is open to strategic partnerships with license holders in geologically promising regions, further solidifying its position as a leader in responsible and sustainable mining.
“We believe Nigeria is vastly underexplored and holds immense potential as a mining jurisdiction. We are committed to taking a long-term view and continuously reviewing opportunities to expand our footprint.
Exploration is ongoing around Segilola, and we remain open to partnerships with entities that hold mining licenses in promising regions.”
With a strong commitment to sustainability, responsible resource development, and community engagement, Thor Explorations continues to position itself as a major player in Nigeria’s mining industry.
Thor Explorations Ltd is a leading West African gold producer. Its Segilola Gold Mine, Nigeria’s first large-scale gold mine, has produced steadily since 2021, with 85,000 ounces in 2024. Thor also holds a 70% stake in Senegal’s Douta Gold Project.
Olusola Akintonde
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