Greenland Mines Takes 9.9% Stake in AnorTech, Signals Push Into Critical Minerals Processing

Greenland Mines Ltd (Nasdaq: GRML) announced a strategic share-exchange investment in AnorTech Inc. on June 16, marking the company's entry into the critical minerals processing segment. The initial stake amounts to 9.9%, with an option to increase exposure to 19.9%.

AnorTech, a TSX Venture-listed technology developer, is advancing sustainable alumina and high-purity alumina (HPA) production from its Gronne Bjerg anorthosite project in Greenland. The deal is subject to customary closing conditions, including TSX Venture Exchange acceptance, with closing expected by the end of June.

The move extends GRML's footprint beyond resource extraction. GRML now spans two operating divisions: a mining business and a biotech business. The company describes the investment as expanding it beyond upstream resource exposure and moving closer to the midstream segment of the critical materials value chain.

The two companies share history in Greenland: AnorTech previously owned and operated the Sarfartoq rare earths project, the same asset GRML recently agreed to acquire.

AnorTech's sustainable-alumina and HPA process remains at the patent-filing and pilot-preparation stage. GRML's flagship Skaergaard resource has not advanced to a completed feasibility study or production decision, and its Sarfartoq acquisition remains subject to closing, including government approval.