TORONTO — Mining and energy entrepreneur Lukas H. Lundin, who worked with his family to start and build a string of successful resource companies, has died at 64 years old.
Lundin Mining Corp., which he founded in the 1990s with his father, the late Adolf H. Lundin, said Wednesday that the cause was brain cancer.
Lundin’s four sons Harry, Adam, Jack and William said in a joint statement released by the company that the family is deeply saddened by his death, but that they take comfort in knowing his legacy will live on for generations.
“Our father is our biggest inspiration. His passion for the industries to which he devoted his life was unparalleled.”
Lundin started his career in the international energy and mining sectors in the early 1980s, working alongside his father.
Along with Lundin Mining, he helped found several other companies, including Lucara Diamonds, NGEx Minerals Ltd. and Filo Mining Corp.
Working with his brother Ian and other family members, he grew the Lundin Group of Companies to encompass 11 companies employing more than 15,000 people with a combined market capitalization of more than US$11 billion.
Canadian Business magazine said in 2018 that Lundin’s net worth was estimated at $2.42 billion, making him the 41st richest Canadian, though he lived in Geneva, Switzerland in recent years.
Lundin also founded the Lundin Foundation, a Canadian registered non-profit organization, after a 12,000 kilometre motorcycle trip from Cairo to Cape Town. The foundation is focused on “investing in the entrepreneurial ambitions of local people.”
Peter Rockandel, chief executive of Lundin Mining, said in a statement that Lundin’s guidance and support for his colleagues will be deeply missed.
“The many successes of Lundin Mining and the Lundin Group owe directly to Lukas’ extraordinary strategic foresight, matched only by his relentless drive.”
This report by The Canadian Press was first published July 27, 2022.
Companies in this story: (TSX:LUN; TSX:LUC; TSX:FIL)
