Greenland Mines (Nasdaq: GRML) says it has acquired at least a 9.9% stake in technology and resource developer AnorTech (TSXV: ANOR), in a move that will expand its supply chain presence in the North Atlantic while providing direct exposure to low-emission industrial materials.
In a press release issued Tuesday, the rare earth developer said it purchased 12.4 million shares in AnorTech for a total investment of C$5.2 million (US$3.72 million). It also has the option to increase its stake to up to 19.9% by purchasing up to 25.17 million shares.
AnorTech shares rose to a five-year high of C$0.13 following the announcement, giving it a market value of C$19.7 million. Shares of Greenland Mines also rose 7%, trading at a market value of $37.1 million in New York.
Exposure to alumina
The deal provides an important differentiated materials and processing platform, rather than just a passive equity position, Greenland Mines said in the statement, adding that this would add a “meaningful option” to its broader strategy to build a critical minerals corridor in the North Atlantic.
Vancouver-based AnorTech is currently developing a proprietary process to produce sustainable melt-grade alumina (SGA) and high-purity alumina (HPA) from anorthosite, designed to eliminate traditional bauxite tailings and generate salable byproducts, including amorphous silica and calcium-based synthetics.
In February 2025, AnorTech filed a provisional US patent covering its sustainable SGA process, and the company has also developed related product lines including CO2-free refractory cement, 3D printable cement, and alumina-based catalyst applications.
Midway sector
Greenland Mines said the investment is “strategic” because alumina and aluminum are at the center of multiple industrial and security value chains, while traditional supply chains remain vulnerable to concentrated upstream sourcing, logistics disruption, and increasing environmental pressures.
“This investment expands Greenland Mines beyond primary resource exposure and brings us closer to the midstream segment of the biomaterials value chain, where strategic bottlenecks and value capture are increasingly present,” said Bo Müller-Stensgaard, President of Greenland Mines.
The company believes that the strategic importance of the transportation sector is becoming increasingly evident across rare earths, battery materials, industrial minerals and metallurgical chemicals, where processing capacity and ownership of technology and industrial sites are often as important as the underlying resource itself.
Expand your mining portfolio
In addition, AnorTech also owns a huge anorthosite deposit in southwest Greenland called Gronne Bjerg.
Greenland Mines said the project, located approximately 80 kilometers from Nuuk on open tidal waters, is “highly complementary” to its own portfolio and logistics vision, particularly as the company develops a strategy linking its resource assets to downstream industrial opportunities in allied jurisdictions in the North Atlantic.
The Greenland-focused mining company is currently developing the Skaergaard Minerals and Gold Cluster project in southeast Greenland. The project is 80% owned and has indicated resources of 11.4 million ounces. Of palladium equivalent. He recently added a second asset by Acquisition of Sarfartoq rare earth project in Southwest Greenland from Neo Performance Materials (TSX: NEO). AnorTech has a 5% free interest on this project.
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