Chronicle Editor
Bongani Ndlovu, Online Reporter
PRESIDENT Mnangagwa commissioned the Pickstone Peerless Mine (PVT) LTD underground shaft upgrade project in Chegutu, Mashonaland West Province this afternoon.
The President first toured the mine, which employs 1 082 people consisting of 26 graduate trainees, students and apprentices and 68 percent of their labour force is below 40 years of age.
In terms of employment creation, 530 new jobs have been created.
The Pickstone underground project will contribute significantly to the increase of revenue and foreign currency inflow in the economy and contribute towards a US$12 billion mining industry in line with Vision 2030 towards a prosperous upper-middle-income nation by 2030.
Pickstone Peerless Mine is owned by Dallaglio, a mining unit of Padenga Holdings Pvt Ltd. Dallaglio, and is confident of great expansion in the coming years.
It also operates the Eureka Mine in Guruve.
All these business units were created with due regard 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.
President Mnangagwa commissioned and broke ground for various projects in Mashonaland West Province since 2018. He commissioned the Zambezi Escarpment, Marongora Road, widening project by JICA in 2021, commissioned Mhondoro/Mubaira rural district hospital facilities in April 2023, commissioned Bio Oxidation Plant at Rio-Zim Cam and Motor mine and also commissioned Muduvuri Referral Hospital in Kadoma in 2023. He also broke ground on the relaunching of David Whitehead Textiles and Non-Profit Hospital in 2022.
As of 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 250 kgs per month by 2025.
Online Reporter