Online Reporter
Ivan Zhakata
Herald Correspondent
TRANS-ATLANTIC Gem Sales (TAGS) has dismissed as false and defamatory reports claiming its appointment by the Zimbabwe Consolidated Diamond Company (ZCDC) and the Minerals Marketing Corporation of Zimbabwe (MMCZ) to market the country’s rough diamonds was irregular and lacked due diligence.
In a statement, the Dubai-based diamond tender house said: “TAGS was selected through a structured, transparent and fully compliant process jointly administered by ZCDC and MMCZ, in accordance with Zimbabwe’s applicable laws and governance standards.”
The company said it followed every legal and procedural requirement before signing the tripartite agreement in September 2025 and that all board resolutions and ministerial approvals were secured.
TAGS said it submitted audited financial statements, proof of incorporation and tax compliance in the United Arab Emirates and verified references from previous partners before the deal was concluded.
“A subsequent visit to TAGS’ Dubai headquarters by ZCDC and MMCZ representatives reaffirmed the company’s strong operational base, security controls, and transparent sales platform,” the statement read.
The company dismissed claims that it is financially unstable.
“Our audited financial statements clearly show that our assets far exceed our liabilities, reflecting a robust and solvent balance sheet.”
TAGS said the agreement includes strict safeguards to protect Zimbabwe’s interests and all diamond sales proceeds are paid into a joint-signatory account requiring ZCDC’s written authorisation.
“It is deeply concerning that certain media outlets have chosen to publish unverified claims and distorted financial data. Such misinformation undermines confidence in Zimbabwe’s efforts to modernise its mineral marketing systems,” reads the statement.
TAGS reaffirmed its commitment to transparency and professionalism, thanking the Government, ZCDC and MMCZ for their confidence and partnership.
