Lukas Lundin Explained

Lukas Lundin
Birth Date:3 July 1958
Birth Place:Stockholm, Sweden
Nationality:Swedish-Canadian
Alma Mater:New Mexico Institute of Mining and Technology
Occupation:Businessman
Chairman of Lundin Mining
Parents:Adolf H. Lundin
Children:4 sons
Relations:Ian Lundin (brother)

Lukas Henrik Lundin (3 July 1958 – 26 July 2022) was a Swedish-Canadian businessman, based in Geneva, Switzerland. He was the chairman of Lundin Mining, Denison Mines, Lucara Diamond, NGEx Resources Inc, Lundin Gold Inc, the Lundin Foundation, and Vostok Gas. He was also the owner of a $100 million superyacht, Savannah.

Early life and education

Lukas Lundin was born in 1958, the son of Adolf H. Lundin, the founder of Lundin Mining and Lundin Petroleum.[1] He graduated from the New Mexico Institute of Mining and Technology in 1981.

Career

Lundin was in charge of International Petroleum Corporation's oil and gas operations in 1982, based in Dubai. From 1990 to 1995, he was president of International Musto Exploration Limited, where he was responsible for the acquisition of the Bajo de la Alumbrera deposit, in a $500 million takeover.

Lundin was the chairman of Lundin Mining, Denison Mines, Lucara Diamond, NGEx Resources Inc, Lundin Gold Inc, the Lundin Foundation, and Vostok Gas.

Together with his younger brother Ian Lundin, who chairs Lundin Petroleum, he had a net worth of at least US $2.5 billion, mostly from commodity-based companies in oil and gas, metals and mining, gold, diamonds, and cattle in Latin America.[2]

Speaking in 2016, Lundin said, "It's a good time to acquire right now", citing in particular possibilities in base metals, and that Lundin Mining should continue expand further, after acquiring the Eagle nickel and copper mine in Michigan from Rio Tinto Group in 2013, and control of the Candelaria/Ojos del Salado copper mines in Chile from Freeport-McMoRan Inc in 2014. Lundin believed zinc was the best bet on a two-five year horizon, and copper and nickel perhaps in the longer term, and that Chile, Argentina and Peru are all places where he was "comfortable doing business".

Superyacht

Lundin owned the $100 million superyacht Savannah, designed by De Voogt Naval Architects and CG Design, and which was built in 2015 at the Feadship yard in Aalsmeer, Netherlands.[3] [4] The yacht uses a single diesel engine, which uses three generators to charge banks of lithium-ion batteries to drive electrically-powered screws, and producing a 30% fuel savings, as it allows a choice between diesel, electric or hybrid modes as needed.[5] [6] The yacht has a crew of 22, and can take 12 passengers.

Personal life

Lundin was divorced, with four sons.[7] [8]

Lundin was based in Vancouver, Canada, for nearly 25 years, before moving to Geneva, Switzerland in 2013, where his brother Ian already lived, and where they commuted to work together from houses on the shores of Lake Geneva.[9]

He competed in the Paris-Dakar rally four times on a motorcycle, and twice climbed Mount Kilimanjaro.

Lundin died on 26 July 2022, after two years with brain cancer.[10]

Notes and References

  1. Web site: Lukas Lundin – Lundin Petroleum Board of directors . Lundin-petroleum.com . 18 March 2017 . live . https://web.archive.org/web/20160325232934/https://www.lundin-petroleum.com/eng/board_director_lhl.php . 25 March 2016 .
  2. Web site: The Swedish Tycoon Hunting for Commodities Says He Makes His Own Luck . Bloomberg . 29 August 2016 . 18 March 2017 . live . https://web.archive.org/web/20170406180653/https://www.bloomberg.com/news/articles/2016-08-29/no-guts-no-glory-motto-has-commodity-baron-lundin-eyeing-deals . 6 April 2017 .
  3. Web site: Lukas Lundin and his Amazing US$ 100 Million Luxury Yacht Savannah . Superyachtfan.com . 19 March 2017 . live . https://web.archive.org/web/20161221232839/http://www.superyachtfan.com/superyacht_savannah.html . 21 December 2016 .
  4. Web site: Baumgard . Josh . The award-winning $100M Savannah is docked in Miami – Curbed Miami . Miami.curbed.com . 26 September 2016 . 19 March 2017 . live . https://web.archive.org/web/20161001095811/http://miami.curbed.com/2016/9/26/13059714/savannah-superyacht-miami . 1 October 2016 .
  5. News: Szondy . David . Savannah, the world's first hybrid superyacht . 26 March 2017 . New Atlas . 31 January 2015 . live . https://web.archive.org/web/20170326225543/http://newatlas.com/feadship-savannah/35779/ . 26 March 2017 .
  6. News: Frank. Robert. Hybrid-Powered Megayachts Come With Green Bragging Rights. 26 March 2017. New York Times. 22 August 2015.
  7. News: Commodity tycoon Lukas Lundin expects oil to hit US$100 on global capex cuts | Financial Post . Financial Post . 30 August 2016 . 19 March 2017 . live . https://web.archive.org/web/20161004015632/http://business.financialpost.com/news/energy/commodity-tycoon-lukas-lundin-expects-oil-to-hit-us100-on-global-capex-cuts . 4 October 2016 . News . Bloomberg .
  8. Web site: The brothers Lundin want to pour oil on the waves . Cdn.ceo.ca.s3-us-west-2.amazonaws.com . 19 March 2017.
  9. News: Andy Hoffman . Lundin's death leaves big shoes to fill for sons . . 19 March 2017.
  10. Web site: Lucara Founder and Former Chairman and Director Lukas H. Lundin Passes Away .