Greenland Mines Ltd (NASDAQ: GRML; FSE: HK6), a Greenland-focused critical-minerals development company, has exercised in full its option to acquire an additional 9.9% of AnorTech, increasing its ownership to 19.9%. The company will acquire 25,168,669 AnorTech common shares at a deemed price of C$0.30 per share for aggregate consideration of approximately US$5.3 million, or C$7.55 million, satisfied through the issuance of Greenland Mines common shares. Following completion, Greenland Mines will hold 45,127,172 AnorTech shares. The transaction remains subject to TSX Venture Exchange acceptance and customary closing conditions.
This strategic investment underscores Greenland Mines’ commitment to expanding its portfolio of critical minerals assets. AnorTech is advancing its 100%-owned Gronne Bjerg anorthosite project near Nuuk, Greenland, along with technologies targeting smelter-grade and high-purity alumina, CO2-free cement and other industrial materials. By increasing its stake, Greenland Mines gains greater influence over these promising developments and reinforces its position in the North Atlantic Critical Metals Corridor.
Greenland Mines said the increased investment also provides exposure to potential lunar applications for anorthosite, which can be used as an analogue for lunar highlands geology and in lunar regolith simulants. AnorTech reports it has supplied anorthosite to space-sector researchers and has advanced research involving lunar simulants, 3D-printable construction materials and refractory concretes and cements. This connection to space exploration could open new avenues for anorthosite beyond terrestrial uses, positioning the company at the intersection of mining and aerospace innovation.
The transaction is being satisfied through the issuance of Greenland Mines common shares, preserving cash for ongoing development. Greenland Mines Ltd is a Nasdaq-listed resource development and mining company focused on the development of the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. The company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and select midstream processing opportunities, while advancing its assets and broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
For investors, this move signals Greenland Mines’ confidence in AnorTech’s projects and the potential for anorthosite in both industrial and high-tech applications. The increased ownership may also enhance collaboration between the two companies, accelerating the development of the Gronne Bjerg project and related technologies. As demand for critical minerals continues to rise, Greenland Mines’ expanded stake in AnorTech could yield significant long-term value.
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