ESG
Environment
Thor’s approach to responsible mining is built on protecting ecosystems, reducing emissions, and managing water and waste with discipline.
Our environmental priorities are shaped by the Segilola EIA consents and strengthened through our alignment with International Finance Corporation Performance Standards. We go beyond minimum requirements through additional management plans and rigorous monitoring. This includes daily climate parameter checks, monthly programmes covering air, soil, water, noise and biodiversity, and quarterly compliance audits submitted to regulators. We also apply strict oversight to tailings facilities and groundwater protection to safeguard surrounding communities and environments.
In 2024, Thor recorded 46,842 tCO₂e (Scope 1), with an emissions intensity of 0.59 tCO₂e/oz and energy intensity of 2.04 GJ/oz. Our power mix continued shifting through an optimised CNG system (60%), supporting a lower-emissions pathway aligned with the goals of the Paris Agreement.
Water stewardship is central to operational resilience. During 2024, 77% of total water use was reclaimed from the TMF, reducing freshwater reliance to 337.6 ML and achieving a 37% reduction in water intensity of ore processed. We also maintained zero chemical spills, supported by best-practice monitoring, controls and independent oversight across our sites.
Emissions & energy
In 2024, emissions intensity was 0.59 tCO₂e/oz, supported by an energy mix led by 60% CNG and ongoing decarbonisation initiatives.
Water stewardship
We reclaimed 77% of process water from the TMF and reduced freshwater withdrawal to 337.6 ML, improving circularity and reducing scarcity
Waste & circularity
424,209 tonnes of waste rock were repurposed, delivering ~US$4.8m in savings and supporting local infrastructure, including community road
Monitoring & compliance
Our approach includes daily monitoring, monthly environmental programmes, and quarterly audits for biodiversity, air and water quality, noise and soil, and TMF integrity.
Social
We focus on long-term shared value, built through transparent engagement, local opportunity, and targeted investment in host communities.
Our social approach is formalised through Thor’s Social and Community Development Policy and delivered through CSR programmes, compensation and livelihood restoration, and Community Development Agreements (CDAs). In 2024, SROL held 151 community meetings with 4,761 participants, and delivered 23 community projects with over US$575k invested. We also prioritised local economic contribution, with 84% of procurement spent locally (about US$93.4m), supporting jobs, suppliers and community-level growth.
Governance
Strong governance underpins ethical leadership, regulatory compliance, and accountable ESG performance across the business.
Thor’s governance framework is designed to meet Canadian public company standards and AIM obligations, with Board oversight of strategy, risk management and ESG integration. We maintain 15 Board-approved governance and ESG policies, including anti-bribery and corruption, human rights, whistleblowing and supplier standards. In 2024, we recorded zero cases of bribery and corruption and no cybersecurity breaches. We also support transparency through NEITI and ESTMA reporting, including disclosure of US $7.59m in royalties, taxes and fees paid to host governments.
US$193.1m
FY 2024 revenue (Nigeria)
Cases of bribery and corruption (2024)
Zero
Cases of bribery and corruption (2024)