To: Timelord who wrote (1399 ) 11/26/1999 8:10:00 AM From: Tomas Read Replies (1) | Respond to of 2742
National Post: B.C.'s Lundin family doesn't let politics get in the way International empire Ian McKinnon National Post, Friday, November 26 CALGARY - Adolf Lundin, the chairman of Lundin Oil AB, has been described as one of the most active and powerful financiers on the Vancouver Stock Exchange. His sprawling empire includes numerous companies worth hundreds of millions of dollars in total. Among them are Red Sea Oil Corp., Tenke Mining Corp. and South Atlantic Resources Ltd. "The Lundins take the view that you should not stay away from a country because of its politics," said Bill Rand, a Vancouver lawyer, Lundin director and family friend. "You should get in there, although sure there will be some people you don't like," Mr. Rand said. Investment creates a middle class that later demands political improvements and stability, he said. Mr. Lundin's 39-year-old son, Ian, is president and managing director of Lundin Oil. He and his father live in Geneva, where Lundin is headquartered. Another son, Lukas, is also a director. Lukas Lundin, 41, lives in Vancouver with his wife and four children. Adolf Lundin was born in Stockholm in 1932. A mining engineer, he began raising money in the 1970s in Canada because of this country's familiarity with junior resource companies. Lundin Oil was created two years ago when Toronto Stock Exchange-listed International Petroleum Corp. merged with Sands Petroleum AB of Sweden. The deal gave the Lundins a 30% stake of the firm that bears their name. "They're risk takers, but they don't go to Las Vegas to gamble at the gambling tables," Mr. Rand said of the three Lundin men. "They are very creative and imaginative and can see beyond problems that others fret about." Ross Sherwood, vice-president of Odlum Brown Ltd., in Vancouver, is a friend of Lukas Lundin, whom he described as a keen skier who spends most winter weekends in Whistler. "He's just a regular dad with a really nice wife and some delightful kids. He's not into the 'see and been seen' scene, it's just not his way." Lukas Lundin is president and chief executive of International Curator Resources Ltd., a Vancouver-based junior miner, and serves as a director for several firms. Some human rights activists have promised to turn their attention on the Lundins once they have concluded their divestment campaign against Talisman. One of Adolf Lundin's companies, Argentina Gold Corp., was acquired earlier this year by Homestake Mining Corp. in a stock deal worth $189-million (US).nationalpost.com