- Dubai praised Zimbabwe’s diamonds after 500,000 carats were sold through Trans Atlantic Gem Sales.
- ZCDC operates mines in Chiadzwa and Chimanimani, formed after government closures in 2016.
- Trade with the UAE has grown, with gold and diamonds making up the bulk of exports.
DUBAI Multi Commodities Centre (DMCC) Executive Chairman Sultan Ahmed Bin Sulayem has praised the quality of Zimbabwe’s diamonds after a shipment of more than 500,000 carats was sold in Dubai.
The sale was conducted by Trans Atlantic Gem Sales (TAGS), which recently became Zimbabwe Consolidated Diamond Company’s (ZCDC) second international tender house.
ZCDC, owned by the Mutapa Investment Fund, also sells through Taurum Group. By law, local producers must reserve 10% of their output for domestic buyers, ensuring that Zimbabweans have access to part of the production.
The Minerals Marketing Corporation of Zimbabwe (MMCZ), the sole marketing agent for minerals except gold and silver, plays a key role in ensuring fair value. “Our business is to develop new markets for Zimbabwean minerals,” MMCZ General Manager Dr Nomusa Jane Moyo said last year.
Bin Sulayem said TAGS was “a cornerstone of our precious stones ecosystem, consistently delivering the scale, transparency and professionalism that global buyers expect.” He added that Dubai had become the world’s leading rough diamond hub, trading more than 1 billion carats in the past five years.
ZCDC operates mines in Chiadzwa and Chimanimani. The company was formed in 2016 after government closed several operators over accountability concerns, following years of artisanal rushes and allegations of lost revenue in the Marange fields.
Diamond mining contributes significantly to Zimbabwe’s economy. A 2026 industry report noted that new technology is boosting production, though global price volatility remains a risk. “Zimbabwe’s diamond sector is experiencing a resurgence, fuelled by investments in cutting-edge technologies,” said the Association of Intelligent Diamond International.
Environmental and social impacts remain pressing. Research shows mining has caused deforestation and land degradation, with over 200,000 hectares of forest lost annually, while communities in Chiadzwa have reported displacement and limited benefits.
TAGS, headquartered in Dubai, runs tenders in Angola and South Africa as well. The company is recognised for transparency and advanced viewing facilities, which attract international buyers.
The Dubai Diamond Exchange (DDE), home to more than 1,300 firms, provides secure trading and is affiliated with the World Federation of Diamond Bourses. Its role has helped Dubai strengthen its position as a global diamond centre.
Zimbabwe’s trade with the UAE has grown, with gold and diamonds making up the bulk of exports. Officials say the partnership boosts foreign currency inflows while giving Dubai access to Southern Africa’s resources, creating benefits for both sides.
