Greenland Mines Ltd. (NASDAQ: GRML) has entered into a strategic share exchange agreement with AnorTech Inc. (TSX.V: ANOR) (OTCQB: ANORF), acquiring an initial 9.9% equity interest in the Greenland-focused technology and resource development company. The company also holds an option to increase its ownership to as much as 19.9% within six months, according to a press release.
The investment supports Greenland Mines' North Atlantic Critical Metals Corridor strategy and provides exposure to AnorTech's portfolio of sustainable technologies, including smelter-grade alumina, high-purity alumina, CO2-free cement, and industrial materials derived from its Gronne Bjerg anorthosite project in Greenland. The transaction is expected to close by June 30, subject to customary closing conditions and acceptance by the TSX Venture Exchange.
Greenland Mines said the deal expands its reach beyond upstream resource development into the midstream processing segment of the critical materials value chain. AnorTech is advancing a proprietary process designed to produce sustainable smelter-grade alumina and high-purity alumina from anorthosite while eliminating conventional bauxite-residue tailings, a significant environmental advantage over traditional alumina production.
This move comes as global demand for critical minerals, including rare earth elements and aluminum, continues to rise, driven by the transition to clean energy technologies and electric vehicles. The strategic partnership positions Greenland Mines to participate in multiple stages of the supply chain, from mining to processing, which could enhance its competitive edge.
Greenland Mines operates two divisions: Mining, focused on the Skaergaard Project and the Sarfartoq neodymium-praseodymium rare earths project in Greenland; and Biotech, including Klotho's KLTO‑202 primary indication for ALS. The company's strategy is to build a multi-asset platform with exposure to rare earth magnet materials, precious metals, and midstream processing opportunities.
For more information about Greenland Mines, visit https://greenlandmines.com/. The full press release is available at https://ibn.fm/uIGCl.
