Greenland Mines (NASDAQ: GRML) has entered into a strategic share exchange agreement with AnorTech Inc., acquiring an initial 9.9% equity interest in the Greenland-focused technology and resource development company. The transaction, announced June 17, 2026, includes an option to increase ownership to as much as 19.9% within six months, according to the press release. The investment supports Greenland Mines' North Atlantic Critical Metals Corridor strategy and provides exposure to AnorTech's sustainable alumina, high-purity alumina, CO2-free cement and industrial materials technologies derived from its Gronne Bjerg anorthosite project in Greenland.
Greenland Mines said the transaction expands its reach beyond upstream resource development into the midstream processing segment of the critical materials value chain. AnorTech is advancing a proprietary process designed to produce sustainable smelter-grade alumina and high-purity alumina from anorthosite while eliminating conventional bauxite-residue tailings. The transaction is expected to close by June 30, subject to customary closing conditions, including acceptance by the TSX Venture Exchange.
The investment comes as global demand for critical minerals intensifies, with governments seeking secure supply chains. Greenland Mines, already active in rare earth magnet materials and precious metals, positions itself to capture value across the supply chain. The company's North Atlantic Critical Metals Corridor vision links Greenland resources with allied downstream jurisdictions and industrial infrastructure. AnorTech's technology, which avoids bauxite residue, aligns with environmental sustainability goals, potentially offering a cleaner alternative to traditional alumina production.
For Greenland Mines, this stake diversifies its portfolio and adds a midstream component to its existing mining and biotech divisions. The company operates two divisions: Mining, focused on the Skaergaard Project and the Sarfartoq neodymium-praseodymium rare earths project in Greenland, and Biotech, including Klotho's KLTO-202 primary indication for ALS. The AnorTech investment could provide a steady supply of critical materials for downstream industries, reducing reliance on traditional sources.
The full press release is available at https://ibn.fm/uIGCl. More information about Greenland Mines is accessible at https://greenlandmines.com/. The company's newsroom is located at https://ibn.fm/GRML.
