The Sharpened Pickaxe description:
Effect: +200% Production Speed


Actual effect:
+200% production amount


Basically the text reads like it should speed up the production cycles, instead it just increases the production volume per cycle.

The significant difference being that, if it would actually x3 the production cycle from ~10mins to ~3m, it would deplete deposits faster which I hoped it would be doing, but currently is not doing.