Pickstone Peerless underground project to increase...

Pickstone Peerless underground project to increase revenue, growth as mine shifts from open cast

Oscar J Jeke

ZIM NOW REPORTER

Dallaglio Investments-owned Pickstone Peerless Mine has been tipped to increase revenue and growth in the mining industry owing to its combined gold production output with Eureka Mine in Guruve, of 210kgs per month, which is estimated to increase to 230kgs per month in 2025.

The Chegutu mine, which was commissioned yesterday by President Emmerson Mnangagwa, has shifted to underground mining from open cast for improved gold grades, a development that has also created 550 new jobs.

President Mnangagwa commended Dallaglio for its investment and development, noting that it is in line with government’s development agenda, especially with the timely opening of the mine at a time the country has launched a gold-backed currency.

“It is fortunate that this commissioning ceremony of the Pickstone Pecrless Mine Underground Mining Project is occurring a few days after the historic and unprecedented opening of our national vaults as well as launch of our country’s structured currency,” President Mnangagwa said.

The President also encouraged the mining company to compensate its workers that work to produce the precious mineral.

“Make money, make money, develop our economy, but also pay well the workers….,” the President added.

Pickstone Peerless Mine is one of the two concessions obtained from Lobengula through the Rudd Concession, and began operations in 1907 to 1921 owned by Charles Rudd.

The current owners, Dallaglio Investments, bought the company in 2014 after it has closed in 1972, and to date, they have full ownership of the mine.