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.
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. 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 move significantly expands Greenland Mines' exposure to critical minerals and emerging technologies. Anorthosite is a key material for sustainable construction and has potential in space exploration, positioning the company at the intersection of resource development and innovation. For investors, the increased stake in AnorTech demonstrates Greenland Mines' commitment to building a multi-asset platform with exposure to rare earth magnet materials, precious metals and select midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
The transaction underscores the growing importance of Greenland's mineral resources in global supply chains, particularly for critical minerals essential to the energy transition and advanced technologies. As demand for sustainable materials and space-related research grows, Greenland Mines' expanded investment in AnorTech could yield long-term strategic benefits. AnorTech's work on CO2-free cement and high-purity alumina also aligns with global efforts to reduce carbon emissions in industrial processes.
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