Pickstone Peerless underground Mine commissioning
His Excellency President Emmerson Mnangagwa commissioned the Pickstone Peerless Underground Mining Project in Chegutu, Mashonaland West Province. Pickstone Peerless Mine is owned by Dallaglio, a mining unit of Padenga Holdings Pvt Ltd. Dallaglio, who is confident of great expansion in the coming years, also operates Eureka Mine in Guruve, all these business units created with due regards to the empowerment of Zimbabwean citizens in line with the government policy. They invested in Pickstone Peerless Mine in 2014. Pickstone has been operating an open pit mine, which is nearing the end of its economic life, for the past seven years. They have switched to underground mining. The decision to start mining underground was taken as it had become uneconomical to continue open cast mining at the site. As at 30 June 2020, Pickstone’s underlying claims had a total measured and indicated resource of 368,313 ounces (11,456 kg), and a total resource (including inferred) of 789,424 ounces (24,553 kg). Production levels are expected to reach 250kgs per month by 2025. The mine employes a total of 1082 employees consisting of 26 graduate trainees, students and apprentices and 68% of their labour force is below 40 years of age. In terms of employment creation, 530 new jobs have been created. Pickstone underground project will contribute significantly to increase of revenue and foreign currency inflow in the economy and contributing towards a USD 12 billion mining industry in line with vision 2030 towards a prosperous upper middle income nation by 2030. Pickstone mine’s target is to install a 5 Mega Watts solar plant by the 4th quarter of 2024.