Fintech PR
Former Anglo American CEO Mark Cutifani Joins Diamond Standard Advisory Board
Anglo American is parent of De Beers, the leading diamond miner
NEW YORK, Feb. 27, 2024 /PRNewswire/ — Diamond Standard Co., developer of the world’s only regulated and market traded natural diamond commodities, today announced that Mark Cutifani CBE, an influential mining executive, has joined the company’s board of advisors.
As CEO from 2013 to 2022, Cutifani is credited with transforming Anglo American, one of the world’s largest mining companies, where he delivered a fivefold increase in stock price. He was Chairman of De Beers, the leading diamond mine operator and marketer of natural diamonds.
Currently, he serves as Chairman of Vale Base Metals, which shortly after his appointment raised $3.4 billion from the Public Investment Fund and Ma’aden mining of Saudi Arabia.
Mr. Cutifani was formerly CEO of AngloGold Ashanti, a $7 billion market cap mining company producing gold, silver and uranium.
He was a member of the World Gold Council during the development of the SPDR® Gold Trust. Operated by State Street Global Advisors, it was briefly the largest ETF in the world, and within 7 years of listing, gold had appreciated by over 300%, in part due to this new investor demand.
The timing of his joining Diamond Standard coincides with the company’s ambitious plans to launch listed financial products for diamonds, finally enabling investors to diversify into an underallocated asset with significant upside potential. Diamond Standard has agreed to develop futures on MGEX via CME Globex and options on MIAX, and previously filed an ETF.
Diamond Standard Fund, the company’s inaugural fund offering, is a collaboration with Horizon Kinetics, a $6.5 billion SEC-registered investment advisor and sponsor of the Inflation Beneficiaries ETF (NYSE:INFL). A strategic partnership with Oasis Pro Markets will allow for this private fund for accredited investors to list on an Alternative Trading System.
“Mark’s global perspective and experience will help us to apply our technology to unlock other natural resources as investable assets.” said Diamond Standard Founder, Cormac Kinney.
Diamond Standard’s innovative commodities are transparent coins and bars containing geologically equivalent sets of natural diamonds, assembled under supervision of the Bermuda Monetary Authority and internal audit by Deloitte. Bloomberg and Refinitiv publish the daily market price, and the commodities trade on the Diamond Standard Spot Marketplace.
By using computer science to optimize diamonds into a market-traded asset, Diamond Standard® enables investors to access a natural resource worth $1.2 trillion – more than all the world’s silver and platinum combined. This breakthrough real world asset is efficiently transacted as a vault receipt token, providing diversification, potential inflation protection, and a new store of wealth for institutional and individual investors, while bringing transparency and efficiency to the diamond supply chain. To Invest Brilliantly®, visit www.diamondstandard.co
This does not constitute an offer of securities. Investors should carefully review all risk factors, conflicts, expenses, etc. disclosed by the private placement memorandum. Securities offered by Oasis Pro Markets, LLC member of FINRA / SIPC
CONTACT: Anila Daci, ani@diamondstandard.co
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