Greenland Mines Ltd, a critical-minerals development company focused on Greenland, has exercised its option in full to acquire an additional 9.9% of AnorTech, lifting its total ownership to 19.9%. The move, disclosed by NEWMEDIAWIRE, underscores the company’s push to secure a larger stake in a project that could feed growing demand for industrial materials and space-age technologies.
Greenland Mines (NASDAQ: GRML) (FSE: HK6) 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. The purchase will be 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 deal matters because it deepens Greenland Mines’ position in a resource that sits at the intersection of several high-growth markets. Anorthosite is a key feedstock for alumina and cement alternatives, and its use in lunar simulants ties it to space exploration research. By raising its stake to just under 20%, Greenland Mines gains greater influence over AnorTech’s direction while maintaining a strategic foothold in Greenland’s emerging critical-metals sector.
Greenland Mines 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.
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