A pickaxe made from Koboldite is a very robust tool, acting to all extents as a Diamond Pickaxe in the hands of a player. Given to a Hobgoblin, its true properties become evident, slicing through materials like they were liquid. Mining speed for a Hobgoblins increases dramatically when holding a Koboldite Pickaxe, and they can auto smelt ores they mine, often at an increased yield. There is also a boost in the drop rate of Koboldite Dust.