Newmont Taps Chrysos Tech in Ahafo Mine Deal Amid ASX300 Mining Shifts

May 09, 2025 03:39 PM AEST | By Team Kalkine Media

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Newmont Taps Chrysos Tech in Ahafo Mine Deal Amid ASX300 Mining Shifts — Image source: Shutterstock

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Highlights

Newmont (NYSE:NEM) to implement Chrysos’ PhotoAssay tech at Ahafo mine

Chrysos (C79) shares surged over 19% after the deal announcement

Broader gold sector faced downward pressure due to stronger US dollar

Chrysos Corporation (ASX:C79) has announced a significant agreement with gold mining giant Newmont Corporation (NYSE:NEM) that will see its advanced PhotoAssay technology deployed at Newmont’s Ahafo mine in Ghana. This development marks a noteworthy expansion of Chrysos’ global footprint in mineral analysis and highlights ongoing innovation within the broader ASX300 mining landscape.

Under the newly inked contract, Newmont will begin using the PhotonAssay technology starting in the first half of FY26. The agreement includes a renewable five-year term with structured payments based on sample volume and a minimum monthly assay commitment.

PhotoAssay is a non-destructive, fast, and highly accurate alternative to traditional fire assay methods used to detect gold, silver, copper, and other metals. Its speed and environmental benefits have made it increasingly attractive to miners seeking more efficient solutions.

Following the announcement, shares of Chrysos (ASX:C79) surged by 19.13% to reach AU$4.92 in afternoon trade, reflecting renewed market enthusiasm for the company’s technology and commercial momentum. However, the stock remains down 13.07% over the past year.

Chrysos’ CEO, Dirk Treasure, expressed confidence in the partnership and broader adoption trends: “We are continuing our strategy of converting the world’s biggest gold miners to PhotonAssay. We are pleased to see top- and mid-tier producers adopting our technology, a trend that will only accelerate as we continue to penetrate the global mining market.”

In contrast, Newmont (NYSE:NEM) shares edged lower by 1.04% to US$83.03 amid a general pullback in gold-related stocks. The decline in gold prices, largely due to a stronger US dollar, weighed on the sector broadly during the session.

This collaboration arrives at a time when mining companies listed on the ASX are increasingly turning toward high-tech solutions to improve efficiency and reduce environmental impact. It also draws attention to forward-looking mining service providers within the universe of ASX dividend stocks, as some investors evaluate longer-term income strategies from innovative firms.

As technology continues to reshape the resource sector, partnerships like this one between Newmont and Chrysos signal evolving standards in exploration and production — a trend being closely followed by stakeholders in the ASX300 and beyond.

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