A globally respected expert in commodity markets, structured commodity finance, and exchange development, Mr Lamon Rutten, has been appointed as the new chairman of the board of Deap Capital Management and Trust Plc.
Mr Rutten’s appointment is to further strengthen Deap Capital’s leadership as the company advances its mission of mobilising capital and building financial solutions to unlock Africa’s critical minerals potential, positioning it as a strategic bridge between global investors and Africa’s emerging resource economy.
The Dutch national brings to the board over three decades of international experience across Europe, Asia, the Middle East, and Africa.
Mr Rutten described his appointment as a “new dawn for the African metals and minerals financing space,” applauding the decision to make him the chairman of the board, which was newly reconstituted.
The president of Deap Capital, Mr Israel Ovirih, welcomed the new chairman to the fold, noting that his extensive global experience in commodity markets and financial infrastructure development will be instrumental in guiding the company as it builds a world-class platform to finance and support the growth of the critical minerals sector across continental Africa.
“The new chairman and his global experience should enable the unleashing of new possibilities in the African metals and minerals space, including bringing new thoughts on how to modernise and formalise artisanal mining, specifically in Nigeria,” he stated.
Mr Rutten is widely reputed as a pioneer in the development of modern commodity trading and financing infrastructure worldwide, having served at Chie of Energy at the United Nations.
He previously served as the pioneering chief executive of the Multi-Commodity Exchange of India (MCX), also known as the Mumbai Commodity Exchange, where he led the exchange through a period of significant growth and quantum leap, establishing it as the world’s second-largest commodity exchange. Under his leadership, MCX achieved a landmark public listing valued at approximately $1.5 billion and a revenue of over $2.5 trillion by 2012.
He has also held several high-profile leadership and advisory roles globally, including serving as the founding CEO of the Indonesia Commodity and Derivatives Exchange (ICDX) and playing a key role in the development of the Saudi Mining Exchange initiative.
Earlier in his career, he worked with the United Nations Conference on Trade and Development (UNCTAD), where he led an international programme focused on commodity risk management and structured trade finance.
Mr Rutten is also a prolific author and policy expert, having published numerous research papers and policy works on commodity markets, trade finance, and risk management, and has advised governments, multilateral institutions, and financial organisations on commodity market development.