TAGS Refutes ‘False’ Media Reports Following Zimbabwe Appointment

Trans Atlantic Gem Sales (TAGS) has rejected media reports calling it “financially unstable” after its appointment to market rough for Zimbabwe via an international sales partnership.

The tender house, which Zimbabwe Consolidated Diamond Company (ZCDC) and the Minerals Marketing Corporation of Zimbabwe (MMCZ) selected through what it deemed a “structured, transparent and fully compliant process,” said articles accused it of winning the contract after “no due diligence was done,” and that the agreement was “reckless.”

“TAGS followed every step of the formal government tender process as laid out by the authorities, ensuring complete adherence to all procedural, financial, and legal requirements,” the company said Tuesday. “All required board resolutions, legal clearances, and ministerial approvals were secured before the tripartite agreement was executed. Claims that the partnership was concluded without oversight or due diligence are completely untrue and easily disproved.”

The company also added that the figures the articles quoted regarding its assets, liabilities, and financial position were “factually incorrect and grossly misleading.”

Image: Rough diamonds. (Trans Atlantic Gem Sales)