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Mon, May 12, 2025, 7:05 AM 2 min read
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Chrysos Corporation has secured a master services agreement (MSA) with Newmont for the adoption of its PhotonAssay technology in the latter’s gold mining operations.
This technology is expected to transform gold, silver, copper and other elemental analysis with its rapid and environmentally friendly approach.
By exposing samples to high-energy X-rays, Chrysos PhotonAssay technology excites atomic nuclei, enabling improved analysis of gold, silver, copper and other elements in as little as two minutes.
It offers a substantial improvement over conventional assays with reduced labour
and operating costs, enhanced accuracy and precision, and improved occupational
health and safety, according to the company.
An initial PhotonAssay unit is due to be installed at Newmont's Ahafo mine along the Sefwi Volcanic Belt in Ghana in the first half of fiscal year 2026 (FY26).
The agreement between Chrysos and Newmont is structured around the general terms Chrysos offers, featuring an optional renewable five-year term, a fee per sample analysed and a stipulated minimum monthly assay payment.
Chrysos managing director and CEO Dirk Treasure said: “We are proud to have secured both a Master Services Agreement and an initial lease contract with the industry’s leading gold miner. It is a testament not only to Newmont’s approach to operational and environmental excellence, but also reinforcing the significance of PhotonAssay itself.
“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 at their projects, a trend that will only accelerate as we continue to penetrate the global mining market.”
In April this year, Newmont concluded the $4.3bn sale of its Akyem and Porcupine operations in Ghana and Canada.
"Chrysos signs first PhotonAssay unit contract with Newmont" was originally created and published by Mining Technology, a GlobalData owned brand.
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