Dallaglio Investments shines bright with 25% gold ...

Dallaglio Investments shines bright with 25% gold production surge

Oscar J Jeke

Zim Now Reporter

Dallaglio Investments, the gold mining subsidiary of Padenga Holdings, has announced a significant milestone: a 25% increase in gold production during the first half of 2024. This achievement, driven by strategic investments and operational expansions, has positioned Dallaglio as a leading player in Zimbabwe's thriving gold mining industry.

Over the past four years, Padenga has invested a substantial US$86 million into its mining operations. This investment has fueled a surge in production capacity and efficiency, enabling Dallaglio to extract more gold from its mines. Key initiatives driving this growth include ongoing underground development at the Pickstone Peerless mine and a new thickener project at the Eureka mine.

The commencement of the second phase of underground development at Pickstone Peerless has allowed Dallaglio to access deeper, richer ore reserves. This expansion has not only extended the mine's life but has also boosted its output. Meanwhile, the new thickener project at Eureka is designed to enhance gold recovery rates, further contributing to the company's production increase.

These strategic investments and infrastructure upgrades are already paying off. Dallaglio's record sales in the first half of 2024 are a testament to the company's successful implementation of its growth strategy.

The Zimbabwean government has been actively promoting the gold mining industry as a key economic driver. This support, coupled with Dallaglio's continued investment in cutting-edge mining technology, positions the company for further expansion.