Murray Pezim award given to Lundin

The Association for Mineral Exploration BC (AME BC) recently announced that its Murray Pezim Award for perseverance and success in financing mineral exploration will be given posthumously to Adolf Lundin (1932-2006).

The award will be presented during AME BC’s annual awards gala on Jan. 31, 2007, at The Westin Bayshore Hotel in Vancouver during the annual Mineral Exploration Roundup 2007 convention.

Born in Sweden in 1932, Lundin earned a master of science in engineering in 1956 from the Royal Institute of Technology in Stockholm. He soon joined oil company Royal Dutch Shell Group in the Netherlands, but later returned to school to earn an MBA in 1961.

Sweden’s Axel Johnson Group was next on his resume and it was there that he found a flair for swinging business deals.

Lundin struck out on his own in 1971. His first big success came as head of Gulfstream Resources Canada when the company discovered one of the world’s largest gas fields off the coast of Qatar in 1976.

During his lengthy career, Lundin struck oil in Sudan, Libya, and Malaysia.

In the 1980s, Lundin put his oil and gas explorers into one basket to form Consolidated International Petroleum, which ultimately became Lundin Oil. In 2001, Lundin sold Lundin Oil to Talisman Energy for US$529 million.

Black gold wasn’t his only success; Lundin was also drawn by the allure of the yellow metal.With International Musto Explorations, Lundin developed the Bajo de la Alumbrera gold project in Argentina. In 1994, Musto sold half of Alumbrera to M.I.M. Holdings for US$130 million. The following year, Lundin sold the other half for about US$510 million.

Meanwhile, another Lundin company, Argentina Gold, was developing the Veladero gold-silver property in Argentina. Homestake Mining paid roughly $7.80 for each share of Argentina Gold in 1999 or roughly US$300 million. The company had traded at 45 six years earlier.

“Adolf Lundin demonstrated great vision, integrity, and leadership in financing and investing in exploration projects in B.C. His perseverance and dedication in raising funds for Vancouver-based mineral exploration and mining companies, and subsequent establishment of the Lundin Group of companies here have clearly contributed to Vancouver’s role as a global centre for mineral exploration,” says AME BC president and CEO Dan Jepsen.

The winner of the H.H. “Spud” Huestis Award for excellence in prospecting and mineral exploration will be J.C. Stephen, president of his namesake company.

Stephen was nominated by a number of industry professionals who attested to his forward-thinking approach to geological targets that culminated in discoveries like the Mount Polley copper-gold mine, near Williams Lake, B.C., in the late 1960s.

Stephen began his career in 1947 working in the engineering and geology departments at Central Patricia Gold Mines, and then for Eldorado Mining and Refining, Madsen Gold Mines, Hasaga Gold Mines, and Pickle Crow Gold Mines.

From 1968 to 1977, he worked for Bacon and Crowhurst as the supervisor of various exploration syndicates, one which resulted in the Mount Polley discovery.

From 1977 until now, he has been president of J.C. Stephen Explorations.

The E.A. Scholz Award for excellence in mine development will be awarded to Brian Kynoch for his contribution to the development of several mines in B.C. Kynoch was a part of the engineering teams that brought the Nickel Plate, Goldstream, and the Mount Polley mines into production.

“We recognize (Kynoch’s) entrepreneurial vision and involvement in evaluating, advancing and developing mining projects in B.C. Through his analytical approach to mine development Mount Polley Mine is a sustainable operation that generates wealth for the local economy,” says AME BC chairman Rob Pease.

The Hugo Dummett Diamond Award for excellence in diamond exploration and development will be given to John Stephenson, Grenville Thomas, Buddy Doyle, and Robert (Bob) Hindson for their contributions to the discovery and development of the Diavik diamond mine, thereby triggering the Great Canadian Diamond Rush.

The Colin Spence Award for excellence in global mineral exploration will be presented to Ross Beaty.

Beaty founded Pan American Silver, which produced 12.5 million oz. silver in 2005. He also established Lumina Copper, a pure copper producer, since split into three companies.

Of note, AME BC will pay a special tribute to Doug Oldenburg, professor and director at the University of British Columbia’s Geophysical Inversion Facility, for his contributions to global mineral exploration.

Through his role at UBC, Oldenburg has helped transform geophysical data into three-dimensional models in order to get the most out of the geophysical data.

AME BC represents over 3,800 members including individual geoscientists, prospectors, engineers, entrepreneurs, exploration companies, suppliers and producers.