Newmont signs deal to use Chrysos Corporation technology
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The news: Chrysos Corporation shares rocketed after sealing a deal that will see gold miner Newmont use its technology.
The numbers: Chrysos shares surged 19.13% to $4.92 at 2:14pm AEST. Over the last 12 months they're down 13.07%.
The companies have entered into a contract for Chrysos’ PhotoAssay technology to be installed at Newmonth’s Ahafo mine in Ghana, with deployment expected in the first half of FY26.
The deal includes an optional renewable five-year term, a fee per sample and a minimum monthly assay payment.
Newmont shares were down 1.04% to $83.03 amid a broad fall in gold stocks after the metal's price slipped due to a rise in the US dollar.
The context: Chrysos’ PhotoAssay technology delivers a quick analysis of gold, silver, copper and other elements.
What they said: Chrysos managing director and CEO Dirk Treasure said: “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.”
