Greenland Mines (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.
The transaction matters because it deepens Greenland Mines’ position in a resource that spans both terrestrial industrial markets and emerging space applications. Anorthosite’s dual role—as a feedstock for low-carbon cement and alumina as well as a lunar analogue—could attract investors interested in critical minerals and space exploration. By consolidating a larger stake, Greenland Mines gains more influence over AnorTech’s direction and potentially positions itself within a supply chain that could serve future lunar construction and research. The deal also aligns with Greenland Mines’ strategy of building a multi-asset platform with exposure to rare earth magnet materials, precious metals and midstream processing opportunities, while advancing its North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
For investors tracking Greenland Mines, the latest news and updates relating to GRML are available in the company’s newsroom at https:/nnw.fm/GRML. The full press release can be viewed at https://nnw.fm/wIx6e.
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