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 underscores 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 increased stake in AnorTech could enhance Greenland Mines' position in the critical minerals sector, particularly as demand for rare earth elements and advanced materials continues to grow.
The lunar applications angle adds a speculative but potentially significant dimension, as space exploration and commercialization advance. Anorthosite's use as a lunar analogue and in simulants positions AnorTech at the intersection of terrestrial mining and space research, which could open new markets and partnerships. However, the transaction's completion depends on regulatory approvals, and investors should monitor further developments.
Greenland Mines is listed on the Nasdaq and Frankfurt Stock Exchange, and its latest news and updates 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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