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%, according to a press release distributed by NetworkNewsWire. 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, 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 highlights Greenland Mines' strategy to build a multi-asset platform with exposure to rare earth magnet materials, precious metals and select midstream processing opportunities. The company is focused on developing the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
For investors, the move signals confidence in AnorTech's anorthosite project and its potential to supply both terrestrial and space-related industries. Anorthosite's unique properties make it valuable for high-purity alumina and CO2-free cement, which are critical for reducing carbon emissions in construction and manufacturing. Additionally, its use in lunar simulants positions AnorTech at the forefront of space exploration research, as space agencies and private companies prepare for lunar missions that could utilize local resources.
The increased stake also aligns with global efforts to secure critical minerals supply chains outside of China, which dominates rare earth and specialty metals production. Greenland's mineral wealth is increasingly viewed as strategically important for Western economies, and Greenland Mines' investment in AnorTech could enhance its ability to develop a vertically integrated critical minerals platform.
The full press release can be viewed at https://nnw.fm/wIx6e. The latest news and updates relating to GRML are available in the company's newsroom at https:/nnw.fm/GRML.
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