Lukas Lundin, of the Lundin Group, has died at the age of 64 after a two-year struggle with brain cancer.
Lukas oversaw the transformation of Canmex Minerals, from an East African mining company, into Africa Oil. He was also “instrumental” in the inception of Africa Energy in 2015, the company said.
Lukas played a role in the launch of Lundin Energy. He was critical to the combination of the company’s exploration and production assets with Aker BP.
A joint statement from his sons, Harry, Adam, Jack and William, said they “could not have had a better father and mentor”.
“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 stakeholders, not least the members of the local communities where we operate,” they said.
“The companies in the Lundin Group stand stronger than ever and the Lundin family is united in our commitment to remain long-term shareholders.”
Lukas Lundin retired from chairing Lundin Mining in February.
Adolf Lundin founded the Lundin Group in 1971. He had two sons, Lukas and Ian. Companies in the Lundin Group have a combined capitalisation of around $11 billion.
According to family legend, in 1970, Adolf proposed a division between his sons of the oil business and the mining. Lukas, then aged 12, opted for the mines and Ian, aged 9, went for oil and gas.
Africa Oil president and CEO Keith Hill described Lukas as a “leading force in responsible, sustainable and profitable development of natural resources”.
“His tireless enthusiasm, his endless persistence and his steadfast knowledge that we were performing an invaluable service to the world by working with developing nations to create value through the responsible development of their resources, should be a model for future generations,” Hill said.
The Africa Oil official pledged to continue Lukas’ vision with the third generation of the Lundin family.
Africa Energy president and CEO Garrett Soden voiced condolences for group chairman William Lundin and his family.
“Lukas was a legendary entrepreneur whose track record speaks for itself. The Africa Energy team is very thankful for the Lundin family’s continued support, and we look forward to working with the third generation as they carry on Lukas’ vision in the natural resources sector.”
Lukas Lundin had a fortune of around $2.5 billion. He was the owner of the Savannah yacht, said to be the world’s largest metallic-painted floating object.