Tag Archives: Britannia Mining Solutions

Britannia Mining Sciences bolsters PhotonAssay lease order

Environmental, Mineral exploration, Mining services, Sustainable mining, , , , , , , ,

Chrysos Corporation Limited says it has signed 10 new PhotonAssay™ lease agreements with existing customer Britannia Mining Solutions (BMS), bringing Chrysos’ total number of deployed or contractually-committed units to 48.

The combined initial five-year terms of the 10 new BMS lease agreements increases Chrysos’ Total Contract Value by A$149 million ($106 million) to A$705 million.

The first of BMS’ 12 PhotonAssay units is set to arrive in Montreal in the September quarter of 2023. In due course, BMS’ hub-and-spoke market expansion plan will deliver PhotonAssay technology to strategically important mining centres across the US, Canada, Central and South America, the Middle East and Europe.

Chrysos Managing Director and Chief Executive Officer, Dirk Treasure, said: “These 10 new PhotonAssay leases signal a significant expansion of the existing relationship between Chrysos and Britannia Mining Solutions.

“We are particularly excited by BMS’ targeted approach to the roll-out of its PhotonAssay units. Its proposed regional hub model offers flexibility for large and small miners globally and complements the existing mine site and near mine site deployment strategies of Chrysos’ other customers.”

PhotonAssay, Chrysos says, delivers faster, safer and more accurate analysis of gold, silver and complementary elements by non-destructive measurement of larger and more representative samples in as little as two minutes, enabling rapid turnaround of critical operational information that drives optimisation throughout the mining value chain.

The system, originally developed at Australia’s national science agency, CSIRO, provides an environmentally friendly, chemical-free, more sustainable replacement for traditional fire assay methods, significantly reducing CO2 emissions and hazardous waste.

Based in Canada, BMS’ parent company, Britannia Life Sciences, offers an integrated suite of services including analytical and microbiological testing, product development and quality assurance, plus safety and regulatory compliance.

Peter Shippen, CEO of Britannia Life Sciences, said: “Britannia is pleased to partner with Chrysos in revolutionising the global minerals analysis industry. Like Chrysos, our Mining Solutions team has an unwavering commitment to the creation of exceptional market value. The signing of these 10 new PhotonAssay lease agreements reflects the desire of both organisations to deliver unparalleled levels of customer service through faster, safer and more sustainable assaying technologies.”

Chrysos Corp adds Britannia Mining, Kibali to PhotonAssay customer base

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Chrysos Corp continues to expand the reach of its PhotonAssay™ technology, with the company set to provide new units to Britannia Mining Solutions, Intertek and Barrick Gold’s Kibali gold mine.

This brings the total number of deployed or contractually committed units to 38, up from the previous total of 33 units, with the new lease contracts increasing Chrysos’ total contract value by A$108.6 million to A$559.8 million ($386.8 million).

Two five-year leases (with five-year renewal options) have been signed with new customer Canada-based Britannia Life Sciences to deploy PhotonAssay units across its newly formed North American subsidiary, Britannia Mining Solutions. The contract specifies the deployment of an initial two PhotonAssay units while providing the opportunity for further expansion of the agreement in the future.

Two other new lease contracts highlight Chrysos’ growing relationship with international testing, inspection and certification company, Intertek (ITK). The association, which started with the installation in 2021 of two PhotonAssay units at ITK’s Minerals Global Centre of Excellence in Perth, Western Australia, has since expanded to include another already-operating unit in Perth and the upcoming deployment of two new units on a five-year plus five-year-option contract basis for the ITK business in Ghana.

Chrysos says one recently commissioned PhotonAssay unit is now operating in Val d’Or, Canada, with MSALABS, and another unit is now fully operational in Kalgoorlie, Western Australia, with ALS, it added.

Furthermore, Barrick Gold is expanding its adoption of PhotonAssay technology, with one of MSALABS’ already-committed PhotonAssay units to be deployed to Barrick’s Kibali gold mine in the Democratic Republic of Congo. Barrick, in partnership with MSALABS Ltd, installed a Chrysos PhotonAssay laboratory at the Bulyanhulu mine in Tanzania last year.

Managing Director and Chief Executive Officer, Dirk Treasure, said: “This is an exciting time for our business as we continue to execute our expansion plans and focus on key international mining hubs.

“With increasing demand, a strong pipeline of blue-chip customers and our global market penetration continuing at pace, we feel the business is well positioned to meet its ongoing strategic and operational objectives.”

PhotonAssay, Chrysos says, delivers faster, safer and more accurate analysis of gold, silver and complementary elements by non-destructive measurement of larger and more representative samples in as little as two minutes, enabling rapid turnaround of critical operational information that drives optimisation throughout the mining value chain.

The system, originally developed at Australia’s national science agency, CSIRO, provides an environmentally friendly, chemical-free, more sustainable replacement for traditional fire assay methods, significantly reducing CO2 emissions and hazardous waste.

Chrysos went public on the Australian Securities Exchange earlier this month following a successful, fully underwritten IPO, raising A$183.5 million at A$6.50 per share.