In response to these reports, Thor Explorations has written to the Nigeria’s mining ministry to review the statements made and will seek dialogue with the state governor regarding the allegations.
According to Thor, the state’s claim that the company has dodged over 3.25 billion Nigerian naira (approximately $1.9 million) in taxes is “incorrect and unsubstantiated”, and the Osun State Internal Revenue Service has not even provided a detailed breakdown of how this amount was determined.
In addition, the company says SROL recently received a letter from the OSIRS after a review of the records presented by the company revising the initial tax liability from the aforementioned amount to roughly 99.35 million naira (approximately $62,500) for the five-year period from 2019-2024. The company is reviewing this figure as part of its normal course of business, it adds.
Thor Explorations represents one of the leading mining…
