SROL Dominates Maiden Solid Minerals Excellence Awards 2026: A Landmark Achievement for Nigeria’s Gold Mining Sector

Abuja, Nigeria – In a historic moment for Nigeria’s burgeoning mining industry, Segilola Resources Operating Limited (SROL), the operator of the nation’s first commercial gold mine—the Segilola Gold Mine—emerged as a standout winner at the inaugural Solid Minerals Excellence Awards (SOMEA). Held on 14 May 2026 at the Abuja Continental Hotel, the event convened key stakeholders from across Nigeria’s solid minerals sector to celebrate excellence, innovation, and transformative contributions. SROL’s sweeping success not only underscores its operational prowess but also signals a new era of professionalism and accountability in Nigerian mining.

Unprecedented Recognition: Five Nominations, Three Major Wins

SROL received five award nominations and secured three prestigious wins, a feat that highlights its comprehensive impact across production, safety, and community engagement. The awards included:

• SOMEA Gold Mining Company of the Year – Recognizing overall excellence in gold mining operations, including environmental stewardship, economic contribution, and innovation.
• SOMEA Outstanding Gold Producer of the Year – Main Category – The flagship award, honoring the company that demonstrated the highest gold output, operational efficiency, and adherence to best practices.
• SOMEA Outstanding Gold Producer of the Year – Mines Inspectorate Category – A specialized award from the Mines Inspectorate, focusing on regulatory compliance, safety standards, and responsible resource extraction.

Why These Awards Matter: Context and Deeper Insights

The Solid Minerals Excellence Awards (SOMEA) were established to address a critical gap in Nigeria’s mining ecosystem: the need for a formal, transparent recognition system that rewards companies driving sustainable growth. Historically, Nigeria’s solid minerals sector has faced challenges such as illegal mining, environmental degradation, and lack of investor confidence. SOMEA aims to change that narrative by spotlighting operators like SROL that set benchmarks in governance, production, and community relations.

For SROL, these awards are not merely trophies. They represent validation of a decade-long journey to transform Nigeria’s gold mining landscape. The company’s Segilola Gold Mine, located in Osun State, was the first large-scale commercial gold mine in the country, breaking ground in 2019 and achieving first gold pour in 2021. Since then, it has become a case study in how responsible mining can drive economic diversification, create jobs, and attract foreign direct investment.

Production Milestone: 94,130 Ounces of Gold in 2025

In 2025, the Segilola Gold Mine produced 94,130 ounces of gold, reinforcing its position as a leading player in Nigeria’s mining sector. To put this in perspective, Nigeria’s total gold production in 2024 was estimated at under 200,000 ounces, meaning SROL alone accounted for nearly half of the national output. This production level not only contributes to Nigeria’s foreign exchange earnings but also demonstrates the viability of large-scale mining in a country often associated with artisanal and small-scale operations.

Practical example: At current gold prices (approximately $2,000 per ounce), SROL’s 2025 production translates to over $188 million in revenue—a significant boost to the local economy and a model for other operators seeking to scale up responsibly.

Safety First: The SROLSafe System and Occupational Health Excellence

One of SROL’s most notable achievements is its occupational health and safety performance, which earned it the Outstanding Performer in Occupational Health and Safety award. This recognition is driven by the company’s robust safety management system, known as SROLSafe.

SROLSafe is not just a compliance tool; it is a comprehensive framework that integrates risk assessment, incident reporting, emergency response, and continuous training. For example, the system mandates daily safety briefings for all workers, real-time monitoring of hazardous conditions, and a zero-tolerance policy for safety violations. As a result, the Segilola mine has achieved over 5 million man-hours without a lost-time injury—a benchmark that rivals global mining standards.

This focus on safety is critical in a sector where accidents can be catastrophic. By prioritizing worker well-being, SROL not only protects its employees but also reduces operational downtime, lowers insurance costs, and enhances its reputation among international investors and regulators.

Community Engagement: Building a Social License to Operate

SROL also continues to prioritize sustainable relationships with its host communities through strategic community development initiatives and stakeholder engagement. The company’s approach goes beyond corporate social responsibility (CSR) to create shared value. For instance, SROL has invested in local infrastructure, including roads, schools, and healthcare facilities, and has implemented a local employment policy that prioritizes hiring from surrounding villages.

Practical example: In 2025, SROL launched a skills development program for youth in Osun State, training over 200 individuals in welding, electrical maintenance, and heavy equipment operation. Many of these graduates have been employed at the mine or by local contractors, reducing unemployment and fostering economic resilience.

The company noted that the recognition reflects the positive impact of its efforts and its commitment to maintaining a strong social license to operate while creating long-term value for host communities. This is particularly important in Nigeria, where mining has historically been associated with conflict and displacement. SROL’s model demonstrates that mining can be a force for good when companies engage transparently and invest in local development.

About Segilola Resources Operating Limited

Segilola Resources Operating Limited (SROL) is a Nigerian exploration and gold-producing company operating the Segilola Gold Mine, Nigeria’s first commercial gold mine. The company is a subsidiary of Thor Explorations Ltd., a Canadian-listed mining group with a focus on West Africa. SROL’s operations are guided by principles of environmental sustainability, social responsibility, and operational excellence.

For more information, visit Segilola Resources Operating Limited.

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