Greenland Mines expands alumina and critical minerals strategy with stake in AnorTech

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Greenland Mines will fortify its foothold in the critical minerals segment of the economy through a strategic investment in the mineral-focused technology and resource development company, AnorTech Inc., for an initial equity stake of 9.9 per cent. Under the terms of this agreement, Greenland Mines will also have an option to increase its ownership in AnorTech to no more than 19.9 per cent over the next six months. This action bolsters Greenland's determination to create a comprehensive supply chain for critical materials.

The investment supports Greenland Mines’ North Atlantic Critical Metals Corridor strategy, an initiative designed to connect Greenland’s abundant mineral resources with allied industrial and processing hubs. Through the partnership, the company gains exposure to innovative processing technologies capable of producing sustainable alumina, high-purity alumina, CO2-free cement and other industrial products derived from AnorTech’s Gronne Bjerg anorthosite project in Greenland.

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The transaction marks an important step in Greenland Mines’ evolution from a primarily upstream resource developer toward participation in the midstream segment of the critical minerals value chain. AnorTech is advancing a proprietary processing technology that enables the production of smelter-grade alumina and high-purity alumina from anorthosite while eliminating conventional bauxite residue tailings, addressing a significant environmental challenge associated with traditional alumina production.

The share exchange agreement is expected to close on or before June 30, subject to customary closing conditions, including approval from the TSX Venture Exchange.

Greenland Mines currently operates through two business divisions. Its Mining division is focused on advancing the Skaergaard Project in southeast Greenland and, subject to the completion of a previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earth project in southwest Greenland. The company’s Biotech division includes Klotho’s KLTO-202 programme targeting amyotrophic lateral sclerosis (ALS). Together, these assets support Greenland Mines’ strategy of developing a diversified platform with exposure to rare earth elements, precious metals and selected processing opportunities.

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The investment highlights the increasing importance of sustainable processing technologies in securing reliable supplies of critical minerals required for clean energy systems, electric vehicles and defence applications. By combining resource development with advanced processing solutions, Greenland Mines aims to strengthen supply chain resilience across allied markets.