Greenland Mines announced a strategic share exchange agreement with AnorTech, gaining exposure to sustainable alumina, high-purity alumina, CO2-free cement, and other industrial materials while advancing its North Atlantic Critical Metals Corridor strategy.
Under the agreement, Greenland Mines will acquire 19,958,503 common shares of AnorTech, representing a 9.9% ownership stake, with an option to increase its position to as much as 19.9% over the following six months. The transaction is expected to close by June 30, subject to customary conditions and TSX Venture Exchange approval.
AnorTech is developing a proprietary process to produce sustainable smelter-grade alumina and high-purity alumina from its wholly owned Gronne Bjerg anorthosite project in Greenland. The company’s technology is designed to eliminate conventional bauxite-residue tailings while generating saleable byproducts, including amorphous silica and calcium-based industrial materials. In addition to alumina, AnorTech is advancing product lines including CO2-free refractory cement, 3D-printable cement, and alumina-based catalyst applications.
Greenland Mines said the investment expands its focus beyond upstream mining assets into midstream processing opportunities, which it views as increasingly important for Western supply-chain security. The company believes AnorTech’s Gronne Bjerg project, located approximately 80 kilometers from Nuuk with access to deepwater logistics and hydroelectric power potential, complements its broader vision of linking Greenland resources with downstream industrial infrastructure in allied North Atlantic jurisdictions such as Iceland and North America.
The transaction follows Greenland Mines’ previously announced agreement to acquire the Sarfartoq rare earths project and further strengthens its strategy of building a diversified platform spanning precious metals, magnet rare earths, and industrial critical materials.
KEY QUOTES:
“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. It aligns directly with our vision of building a North Atlantic Critical Metals Corridor linking advantaged Greenland resource assets with industrial processing opportunities in allied jurisdictions such as Iceland or North America, while adding exposure to sustainable alumina and other advanced materials that we believe can become strategically important to Western supply chains.”
Bo Møller Stensgaard, President of Greenland Mines
“We are very excited to be entering into this strategic relationship with Greenland Mines, which is assembling an unmatched portfolio of critical metals projects in Greenland. Greenland Mines has the team, market presence, and financial strength needed to rapidly advance these projects. Greenland Mines recently signed an agreement to acquire the Sarfartoq rare earths project in Greenland, which AnorTech owned and operated for many years. AnorTech will contribute its 24 years of expertise in the exploration and development of Sarfartoq and other projects in Greenland and will provide Greenland Mines with exposure to our leading-edge alumina technologies that we are developing through our Gronne Bjerg anorthosite project.”
Jim Cambon, President of AnorTech
