Former Anglo American CEO Mark Cutifani Joins Diamond Standard Advisory Board

Rhea-AI Summary

Diamond Standard Co. announces the appointment of Mark Cutifani CBE, former CEO of Anglo American, to its board of advisors. Cutifani's successful track record in the mining industry and experience with leading companies like De Beers and Vale Base Metals aligns with Diamond Standard's plan to launch financial products for diamonds, offering investors a new asset class. The company's innovative commodities, backed by natural diamonds, aim to provide diversification, inflation protection, and wealth storage opportunities for both institutional and individual investors.

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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SOURCE Diamond Standard Co.

FAQ

Who is the new board member joining Diamond Standard Co.?

Mark Cutifani CBE, former CEO of Anglo American.

What is the aim of Diamond Standard Co.'s innovative commodities?

To provide diversification, inflation protection, and wealth storage opportunities for investors.

What financial products does Diamond Standard Co. plan to launch?

Listed futures on MGEX via CME Globex, options on MIAX, and previously filed an ETF.

What is the value of the natural resource accessed by investors through Diamond Standard Co. commodities?

$1.2 trillion, more than all the world's silver and platinum combined.

What organizations supervise the assembly of Diamond Standard Co.'s commodities?

Bermuda Monetary Authority and internal audit by Deloitte.