Chrysos goes international ahead of float

AUSTRALIAN mining technology company Chrysos Corporation has achieved a significant milestone by installing its first international PhotonAssay unit at Barrick Gold’s Bulyanhulu mine in Tanzania.
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A Chrysos PhotonAssay lab has been installed at Barrick Gold’s Bulyanhulu mine in Tanzania

Staff reporter

The unit, which is also the company's first deployment directly to a mine site, is part of a collaboration with MSALABS, a subsidiary of London-listed Capital, which will see at least seven Chrysos PhotonAssay units installed across the globe over the next 18 months. 

The installation also represented Chrysos' first deployment directly to a mine site.

The new technique delivered faster, safer and more accurate analysis of gold, silver and complementary elements, Barrick said, adding the system provided an environmentally friendly, chemical-free, more sustainable replacement for traditional fire assay methods, significantly reducing carbon dioxide emissions and hazardous waste.

Hitting samples with high-energy X-rays, the technology caused excitation of atomic nuclei allowing enhanced analysis of gold, silver, and complementary elements in as little as two minutes, Chrysos said.

Barrick president and chief executive Mark Bristow said the installation was part of the group's continuing drive to harness technological innovation in the service of operational excellence, occupational safety and environmental care.

Chrysos CEO Dirk Treasure said the company had an "ambitious plan" to deploy 80 PhotonAssay units - originally developed at Australia's national science agency, CSIRO - over the next five years.

"At that point, with each unit capable of processing up to 480,000 samples per annum, we will be helping our customers reduce CO2 emissions by an estimated 18,000 tonnes and decrease hazardous waste by approximately 12,000 tonnes every year," he said.

He expected to see at least seven units installed around the globe over the next 18 months through the collaboration with MSALABS.

Chrysos raised A$50 milllion last month as it moves towards an initial public offering.