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Dallaglio Investments, the gold mining subsidiary of Padenga Holdings, is projecting a significant surge in gold output in 2026 as ongoing expansion projects come online. For FY2025, the company expects production to remain in line with 2024 levels, Mining Zimbabwe can report.
By Ryan Chigoche
In 2024, Dallaglio produced 2,740 kilograms of gold, a 29% increase from the 2,120 kilograms recorded in 2023.
This growth was driven by higher mill feed grades, improved recovery rates at both the Eureka and Pickstone Peerless mines, and operational efficiencies implemented since late 2023.
The division’s half-year 2025 output of 1,292 kilograms already reflects a 7% year-on-year increase, highlighting the company’s consistent operational performance.
Expansion projects and operational upgrades to drive the anticipated 2026 production leap
Expansion projects across both mines are expected to underpin the next phase of growth. At Pickstone, Phase 3 of the underground project is progressing on schedule, with access to Level 10 established and development work underway.
The project aims to commission hauling and hoisting infrastructure at Level 10.5 by December 2025, enabling more efficient extraction from deeper ore zones. In parallel, Pickstone is set to add a pre-oxidation facility to improve ore leachability in the Carbon-in-Leach (CIL) process, enhancing overall plant recovery. Procurement for this facility will begin in Q3, with commissioning targeted for Q1 2026.
Energy efficiency and sustainability are also central to Dallaglio’s strategy. Preliminary works for a 4.9 MW solar plant at Pickstone were completed in Q2, with commissioning slated for November 2025.
At Eureka Mine, a 5 MW solar project is progressing, with first power expected by Q1 2026. Together, these initiatives are set to improve energy security, reduce reliance on grid electricity, and support the company’s environmental objectives.
Operational improvements are being implemented alongside these infrastructure projects.
At Eureka, evaluation and blasting trials are exploring steeper open-pit slopes, which could allow access to deeper resources and extend the life of the pit, with results expected in Q3.
Meanwhile, Pickstone’s recent drilling campaign indicates a 30% increase in contained ounces compared to previous estimates. An independent review of the updated block model is scheduled for Q3 to confirm these findings and inform the 2026 Mining Plan.
Dallaglio’s expansion and operational plans are supported by a substantial capital investment. For 2025, Padenga Holdings allocated approximately US$30 million to capital projects, with nearly US$29 million directed to Dallaglio’s mining operations.
With underground development, plant upgrades, renewable energy projects, and improved resource access all coming together, Dallaglio expects FY2025 production to remain stable while anticipating substantial growth in 2026. These developments reinforce the company’s position as one of Zimbabwe’s leading gold producers.
