en.Wedoany.com Reported - Greenland Mines (Nasdaq: GRML) announced Tuesday that it has acquired at least a 9.9% stake in technology and resource developer AnorTech (TSXV: ANOR), expanding its supply chain footprint in the North Atlantic region and gaining direct exposure to low-emission industrial materials.
According to a press release from Greenland Mines, the company purchased 12.4 million shares of AnorTech for a total of C$5.2 million (US$3.72 million). Additionally, it holds the right to increase its stake to 19.9% by acquiring up to 25.17 million more shares.
Following the announcement, AnorTech's shares rose to a five-year high of C$0.13, giving the company a market capitalization of C$19.7 million. Over the same period, Greenland Mines' shares rose 7%, giving it a market capitalization of US$37.1 million on the New York market.
Greenland Mines stated in the press release that the transaction is not merely a passive equity holding but a differentiated platform for critical materials and processing. The company added that the move adds "meaningful optionality" to its strategy of establishing a critical metals corridor in the North Atlantic region.
Vancouver-based AnorTech is currently developing a proprietary process to produce sustainable smelter-grade alumina (SGA) and high-purity alumina (HPA) from anorthosite. The process is designed to eliminate traditional bauxite residue tailings, instead producing marketable by-products including amorphous silica and calcium-based industrial materials.
In February 2025, AnorTech filed a U.S. provisional patent application for its sustainable SGA process. The company is also advancing other related product lines, including CO2-free refractory cement, 3D-printable cement, and alumina-based catalyst applications.
Greenland Mines said the investment is of "strategic importance" because alumina and aluminum are central to multiple industrial and security-related value chains, while traditional supply chains still face challenges such as upstream sourcing concentration, logistics disruptions, and increasing environmental pressure.
"This investment extends Greenland Mines beyond upstream resource exposure, bringing us closer to the midstream segment of the critical materials value chain, where strategic bottlenecks and value capture are increasingly concentrated," said Bo Møller Stensgaard, President of Greenland Mines.
The company believes that the midstream segment is growing in strategic importance in rare earths, battery materials, industrial minerals, and metal chemicals, as processing capabilities, technology ownership, and industrial siting are often as critical as the underlying resources themselves.
Additionally, AnorTech holds a large anorthosite deposit called Gronne Bjerg in southwestern Greenland.
Greenland Mines said the project, located in open tidal waters approximately 80 kilometers from Nuuk, is "highly complementary" to its own asset portfolio and logistics vision. This aligns particularly well with its current strategy of linking its resource assets with downstream industrial opportunities in allied jurisdictions across the North Atlantic.
The Greenland-focused miner is currently developing the Skaergaard platinum group metals/gold project in southeastern Greenland. The company holds an 80% interest in the project, with an indicated resource of 11.4 million ounces of palladium equivalent. Recently, it also added a second asset by acquiring the Sarfartoq rare earth project in southwestern Greenland from Neo Performance Materials (TSX: NEO). AnorTech holds a 5% free carried interest in that project.
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