Lundin Mining Corporation Founder Passes Away

Lundin Mining Corporation Founder Passes Away
Lundin Mining Corporation's founder and former chairman has passed away.

Lundin Mining Corporation (LMC) has announced that its founder and former chairman, Lukas H. Lundin, passed away on July 26 at the age of 64, following a two-year battle with brain cancer.

Lundin founded Lundin Mining with his father, the late Adolf H. Lundin, in the mid-1990s and was a member of the board of directors and chairman of the company for more than 25 years until he stepped down in May 2022. In his role as chairman, he oversaw Lundin Mining’s development from an exploration-stage company into a global mid-tier producer with a strong copper focus and a portfolio of world-class assets, LMC noted in a statement posted on its website.

In the statement, LMC outlined that, over the past 40 years, Lundin has been a driving force behind the successes of companies within the Lundin Group. He started his career in the international energy and mining sectors in the early 1980s working with his father.

Under the leadership of Lukas and his brother Ian, and in close cooperation with the rest of the Lundin family, the Lundin Group has grown into an internationally recognized portfolio of energy and mining companies with operations spanning the globe, LMC highlighted. The eleven companies that comprise the Lundin Group today have a combined market capitalization in excess of $11 billion, LMC pointed out.

“Our father is our biggest inspiration,” Lundin´s sons Harry, Adam, Jack and William said in a joint statement.

“His passion for the industries to which he devoted his life was unparalleled. Lukas saw people as the key to success and spent decades building some of the strongest management teams in our industries. He always strived to empower those working with him and continuously pushed us to aim higher. We could not have had a better father and mentor,” they added.

“Our family is deeply saddened about Lukas’ passing but takes comfort in the knowledge that his legacy will live on for generations to come. Having worked side-by-side with Lukas for many years, all of us look forward to continuing to build on the successes of the companies within the Lundin Group – with the support of our shareholders and other stakeholders, not least the members of the local communities where we operate. The companies in the Lundin Group stand stronger than ever and the Lundin family is united in our commitment to remain long term shareholders,” Lundin’s sons continued.

Lundin Mining’s President and CEO, Peter Rockandel, said, “the many successes of Lundin Mining and the Lundin Group owe directly to Lukas’ extraordinary strategic foresight, matched only by his relentless drive”

“His guidance and support for his colleagues will be deeply missed, however, his pursuit and vision of creating a world-class base metals company lives on. Lukas would say, ‘Get the right people. Empower the people. And have good assets.’  Those of us that worked closest with Lukas share in his approach and will continue to build upon his legacy,” Rockandel added.

Daniel Fitzgerald, the CEO of Orrön Energy, which traces its roots back to Lundin Energy and its predecessor company Lundin Petroleum, said, “Lukas Lundin has been pivotal not only in the success and growth of the Lundin Group companies but in creating and nurturing the culture, leadership and assets that have continually delivered for shareholders and stakeholders over many decades”.

“He had such a contagious enthusiasm and drive for business, finding untapped potential and opportunity where others didn’t and his long-term vision allowed companies to create significant value, also through long periods of difficult market conditions,” Fitzgerald added.

“It was an honor to have worked with Lukas, and on behalf of Orrön Energy our thoughts and condolences are with the Lundin Family. Lukas’ energy, vision and steadfast resolve will be missed, but his legacy will live on through all of us in the Lundin Group, guided by the next generation of the Lundin Family,” Fitzgerald continued.

Back in February, LMC announced the retirement of Lundin as the chair of Lundin Mining’s board of directors, effective at the time of the company’s 2022 Annual Shareholders Meeting. In a statement at the time, Lundin said, “I am very proud of the many successes Lundin Mining has achieved over the past nearly three decades, though there is still much to accomplish”.

“The outlook for base metals is very constructive and I am fully confident that the culture, leadership, people and prospects are in place for Lundin Mining to continue building on its positive legacy,” he added at the time.

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