Lukas Lundin has announced his retirement as chairperson of several boards of mining companies that his family controls, including base metals producer Lundin Mining, gold junior Lundin Gold and Botswana's Lucara Diamond Corp.
His retirement will be effective at the respective companies' upcoming yearly meetings.
Lucara indicated that, given the Lundin family’s significant ownership of the Botswana-focused miner (24.5%), the family would recommend ongoing representation on the board.
Lucara president and CEO Eira Thomas thanked Lundin for his contributions to the company as “founder and visionary, who was instrumental in transforming Karowe into one of the world’s leading, high-margin diamond mines”.
The mine is renowned for its recovery of large, high-value diamonds and is the only mine in recorded history to have recovered three diamonds in excess of 1 000 ct.
Lundin Gold stated that its directors had developed a succession plan to ensure a smooth transition and that it expected to name a new chairperson following the annual meeting.
Lundin Gold president and CEO Ron Hochstein commented that the company had acquired the Fruta del Norte deposit, in Ecuador, under the leadership of Lundin and developed it quickly into one of the world’s highest-grade mines.
“His vision, strategic leadership and guidance have been a great benefit to all of us,” commented Hochstein.
Ashley Heppenstall, lead director of Lundin Mining’s board, said: “On behalf of the board, I would like to thank Lukas for the invaluable strategic guidance and perspective he has provided as chair of Lundin Mining. His strong vision and leadership have been paramount to the company’s success, growing from a small team with an exploration property in 1994, to a leading base metal producer with five operations, a global workforce of over 11 000 people and significant growth potential, today.”
Lukas Lundin concluded that he was proud of the many successes Lundin Mining had achieved over the past nearly three decades, but said that there was 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.”