Greenland Mines adds midstream resource exposure with $3.7M investment in AnorTech

Greenland Mines (Nasdaq: GRML) says it has acquired at least a 9.9% interest in technology and resource developer AnorTech (TSXV: ANOR), in a move that expands its footprint in the North Atlantic supply chain while providing direct exposure to low-emission industrial materials.

In a press release on Tuesday, the rare earth developer said it bought 12.4 million shares of AnorTech for a total investment of C$5.2 million ($3.72 million). It also has the option to increase its holding to as much as 19.9% by purchasing up to 25.17 million shares.

Shares of AnorTech surged to a five-year high of C$0.13 on the announcement, giving it a market capitalization of C$19.7 million ($14.1 million). Greenland Mines also gained 7%, trading at a market capitalization of $37.1 million in New York.

Alumina exposure

The transaction provides a differentiated critical materials and processing platform, rather than simply a passive equity position, Greenland Mines said in the release, adding that this would add “meaningful optionality” to its broader strategy of building a North Atlantic critical metals corridor.

Vancouver-based AnorTech is currently developing a proprietary process to produce sustainable smelter-grade alumina (SGA) and high-purity alumina (HPA) from anorthosite, designed to eliminate conventional bauxite-residue tailings and instead generate saleable byproducts, including amorphous silica and calcium-based industrial materials.

In February 2025, AnorTech filed a US provisional patent covering its sustainable SGA process, and the company has also advanced related product lines including CO2-free refractory cement, 3D-printable cement, and alumina-based catalyst applications.

Midstream segment

Greenland Mines said this investment is “strategically significant” because alumina and aluminum sit at the center of multiple industrial and security-relevant value chains, while conventional supply chains remain exposed to concentrated upstream sourcing, logistics disruption and growing environmental pressure.

“This investment expands Greenland Mines beyond upstream resource exposure and moves us closer to the midstream segment of the critical materials value chain, where strategic bottlenecks and value capture increasingly sit,” stated Bo Møller Stensgaard, president of Greenland Mines.

The company believes the strategic importance of the midstream segment is becoming increasingly clear across rare earths, battery materials, industrial minerals, and metal chemicals, where processing capacity, technology ownership and industrial siting are often as important as the underlying resource itself.

Expanded mining portfolio

In addition, AnorTech also owns a massive anorthosite deposit in southwest Greenland called Gronne Bjerg.

Greenland Mines said this project, located approximately 80 km from Nuuk on open tidewater, is “highly complementary” to its own portfolio and logistics vision, particularly as the company advances a strategy linking its resource assets with downstream industrial opportunities in allied North Atlantic jurisdictions.

The Greenland-focused miner is currently developing the Skaergaard platinum group metals/gold project in southeast Greenland. The project is 80% owned and holds an indicated resource of 11.4 million oz. of palladium equivalent. Recently, it added a second asset by acquiring the Sarfartoq rare earth project in southwest Greenland from Neo Performance Materials (TSX: NEO). AnorTech has a 5% free carried interest on this project.