Is ASX Tech Firm Chrysos Driving Global Adoption of PhotonAssay in Gold Mining?

May 09, 2025 02:09 PM AEST | By Team Kalkine Media

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Is ASX Tech Firm Chrysos Driving Global Adoption of PhotonAssay in Gold Mining? — Image source: Shutterstock

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Highlights

Chrysos Corporation (C79) signs master services agreement with Newmont Corporation

Agreement includes initial PhotonAssay unit deployment at Ahafo gold mine in Ghana

ASX technology sector expands into international mining operations with this agreement

Operating within the ASX 200 technology sector, Chrysos Corporation (ASX:C79) has entered into a master services agreement with Newmont Corporation to support gold mining operations through its PhotonAssay technology. As a participant on the ASX All Ordinaries index, Chrysos continues to focus on the application of advanced mineral assay methods in collaboration with global mining entities.

PhotonAssay Deployment at Ghana’s Ahafo Mine

The agreement includes the deployment of a PhotonAssay unit to Newmont’s Ahafo mine in Ghana. Ahafo is recognised for its large-scale operations and extensive gold production footprint. The site forms a central part of Newmont’s activities within West Africa, and the addition of Chrysos technology is aligned with the operational structure of the project.

Master Services Agreement Structure

Under the terms of the master services agreement, Chrysos provides PhotonAssay units to support Newmont’s global gold mining activities. This structure allows for scalable deployment across multiple sites, beginning with the initial unit at Ahafo. The agreement reflects a broader operational arrangement that enables collaboration on technology integration within mining workflows.

PhotonAssay’s Position in Mining Assay Innovation

PhotonAssay is an alternative to traditional fire assay methods used in gold analysis. The technology offers a non-destructive method for analysing gold content in geological samples. Its growing adoption in the mining sector underscores changes in how companies approach assay processes in mineral extraction and processing environments.

ASX Tech Sector Reaches International Mining Markets

The master services agreement with Newmont marks an expansion of ASX-listed Chrysos Corporation’s activities beyond Australia. With deployments across different jurisdictions, the agreement illustrates how technology providers on the ASX are engaging with global mining operations through collaborative service models and long-term equipment deployment agreements.

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