VAM News update

Governor Ademola Adeleke has applauded progress and successes his administration recorded in the mining sector with securing shareholding within Segilola Operating Limited and enforcement of environmental standards in mining operations among others.

Responding to a situation brief submitted by his Special Adviser on Mining and Solid Minerals, Prof Lukuman Adekilekun Jimoda.

Governor Adeleke recalled that a year ago, he promised an overhauling of the mining sector with a view to secure maximum returns for the state from her solid mineral wealth.

“We are recording an increase in revenue generation. Accumulated service charges on our licences have been cleared. We are at the tail end of upgrading our exploration leases to mining leases. This will bring more investors.

“I am elated to report that we have fulfilled that promise within a year of assuming office, the Governor noted, adding that he was particularly elated with the environmental standard enforcement.

“We are now operating an environmentally friendly operation. EIA (Environmental Impact Assessment) and EMP ( Environmental management plan) is now a must before mining operation. Cleaning up the polluted environment is also ongoing. Our mining operation now has zero tolerance for environmental degradation.

He narrated that a long drawn negotiation with mining companies operating in Osun has been on since the beginning of the year, noting that Osun will soon be earning more revenue from the mining sector

“My strategy was to get Osun to genuinely benefit from her natural wealth within the federal set up. We have positive results now.We have secured shareholding with Segilola Resources Operating limited. Further earnings will soon be coming from Segilola very soon.

“As part of the overall plan,we have increased our signature bonuses in line with reality. We are indeed starting mining processing from early next year.

“To ensure full involvement of all interested parties, I have directed the solid mineral office to organize a meeting of all stakeholders before the end of the year.”

Speaking earlier, Prof Jimoda assured the Governor that no effort is being spared to implement the mining sector sector reform as laid out by Mr Governor.