Lundin Mining (TSX: LUN) announced that former president Jack Lundin has officially assumed the role of chief executive officer and will join the board of the Canadian miner on January 1.
During Rockandel’s tenure, the firm acquired a majority stake in the Caserones copper mine in Chile. He also spearheaded the process of moving the company’s head office back to Vancouver from Toronto, where most of the Lundin family lives.
A wave of leadership departures followed the move, including at least three vice-presidents.
With Jack Lundin taking the reins, the company’s key officer positions are now held by siblings, as his brother Adam is currently Lundin Mining’s chairman.
With a nearly 15% stake, the Lundin family is the largest shareholder in Lundin Mining, part of a conglomerate that includes mining, renewable energy and oil and gas companies and which was founded by Jack and Adam’s grandfather Adolph Lundin.
Lundin Mining produces copper and gold from mines in South America, including Chile, Brazil and Argentina, and gets about 65% of its annual revenue from copper. It also has operations in Portugal, Sweden and the United States.