Chrysos Corporation Expands Its Mining Technology in Morocco
The Australian group Chrysos Corporation, specialized in analysis technologies for the mining industry, is preparing to enter the Moroccan market. The company plans to deploy a PhotonAssay device in Morocco, previously utilized in Ghana, as part of a new assignment scheduled between July and December.
This transfer comes a few months after Chrysos Corporation established a 100% owned subsidiary in Morocco, aimed at supporting the development of its activities within the Kingdom.
The equipment to be installed in Morocco was previously used in Ghana, where its contract came to an end. Consequently, Chrysos has opted to redeploy the device to a new market rather than withdrawing it from its operational network.
Technology for Analyzing Minerals
PhotonAssay is the primary technology developed and marketed by Chrysos Corporation. It enables rapid analysis of metal contents in mining samples, including gold, silver, and copper.
This technology was originally developed by the Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia’s national scientific research body, which remains a shareholder in Chrysos Corporation.
The process employs high-energy X-rays to determine the concentration of various metals in samples. It is particularly designed for mining operators and laboratories seeking fast, efficient analysis solutions tailored for high volumes.
Morocco Joins the International PhotonAssay Network
Chrysos’s model is based on leasing its devices under multi-year contracts with mining companies or specialized laboratories.
The company retains ownership of the equipment, allowing it to redeploy devices to other markets after a contract ends. The relocation of a device from Ghana to Morocco exemplifies this strategy, enabling the group to optimize the usage of its global fleet.
Chrysos collaborates with several major international laboratory networks, including SGS, ALS, Bureau Veritas, and Intertek, to deploy its technology to the players in the mining industry.
As of the end of June, 46 PhotonAssay devices were installed across five continents, an increase from 40 a year prior. Seven new machines joined the fleet during the financial year, while 83 leasing contracts were active at the close.
Four new agreements signed after this date later brought the portfolio to 87 contracts.
Over 11 Million Samples Analyzed
Chrysos Corporation’s operations are experiencing significant acceleration. During the 2026 fiscal year, the company’s equipment allowed for the analysis of 11.3 million samples, reflecting a 67% increase year-over-year.
The group also indicated that it surpassed the threshold of one million analyses per month for five consecutive months. In July, the monthly volume even exceeded 1.1 million samples.
This growth reflects both the increase in the number of devices in service and the expansion of Chrysos’s customer network in various mining markets.
Revenue Growth of 33%
The growth in business has directly impacted the financial results of the Australian group.
Chrysos Corporation reported an annual revenue of AUD 88.1 million, approximately 579 million dirhams, marking a 33% increase from the previous year.
EBITDA reached AUD 27.2 million, nearly 179 million dirhams, compared to AUD 16.1 million, about 106 million dirhams, in the previous financial year.
The company also continued to develop its teams, employing 236 staff across 14 countries by the end of June, up from 207 employees in 13 countries a year earlier.
Chrysos Aims for Further Growth in 2027
The Australian group intends to continue its international expansion throughout the 2027 financial year.
Chrysos Corporation projects revenues between AUD 108 million and AUD 118 million, approximately 710 to 775 million dirhams. EBITDA is expected to fall between AUD 35 million and AUD 42 million, equivalent to about 230 to 276 million dirhams.
The arrival of a PhotonAssay device in Morocco is expected to occur during the first half of this financial year.
With this establishment, the Kingdom is gradually integrating into the international network of Chrysos Corporation and could benefit from an analysis technology aimed at supporting exploration, extraction, and processing activities in the mining sector.
