Diamond Standard Co., developer of the world’s only regulated and market traded natural diamond commodities, reported that Mark Cutifani, the former CEO of mining giant Anglo American, 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.
Diamond Standard said the timing of his joining coincides with the company’s ambitious plans to launch listed financial products for diamonds. 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. A strategic partnership with Oasis Pro Markets will allow for this private fund for accredited investors to list on an Alternative Trading System.
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