Lucara founder,Billionaire Lukas Lundin steps down from company chair & director role

On Thursday Lucara Diamond Corporation, 100 percent owners of Karowe Mine announced the retirement of company Chairman Lukas Lundin.

A statement from Lucara headquarters, Vancouver Canada , announced that Mr. Lukas Lundin, current Chair and a Director of the Company, has indicated his intention to retire from the Board upon the completion of his term at the Company’s upcoming 2022 Annual Meeting of Shareholders.

Eira Thomas, President and CEO, commented, “On behalf of the Board and management team of Lucara, I want to thank Lukas for his invaluable contributions to the Company as a founder and visionary, who was instrumental in transforming Karowe into one of the world’s leading, high margin diamond mines, renowned for its recovery of large, high value diamonds and the only mine in recorded history to have recovered three diamonds in excess of 1000 carats. With his ongoing support, we look forward to a long and successful future at Karowe, expanding the mine underground and extending mine-life out until at least 2040.”

Given the significant Lundin family ownership of Lucara shares (~24.5%), it is the family’s intention to recommend ongoing representation on the Lucara Board of Directors.

The Company’s Corporate Governance and Nominating Committee will evaluate and assess the skills and experience for any director nominee to replace Mr. Lundin, to ensure that Lucara retains the skills and experience necessary for a competent board

The director nominee will stand for election at Lucara’s Annual General Meeting, scheduled to be held on May 6, 2022 in Vancouver, Canada.

Lukas Henrik Lundin is a Swedish-Canadian billionaire businessman, based in Geneva, Switzerland.

He is the chairman of Lundin Mining, Denison Mines, Lucara Diamond, NGEx Resources Inc, Lundin Gold Inc, the Lundin Foundation, and Vostok Gas. He is also the owner of a $100 million superyacht, Savannah.

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.

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