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, with an option to increase its ownership to as much as 19.9% within six months. The announcement, made on June 17, 2026, underscores the company's commitment to its North Atlantic Critical Metals Corridor strategy and aims to provide exposure to AnorTech's innovative technologies for sustainable alumina, high-purity alumina, CO2-free cement, and industrial materials derived from its Gronne Bjerg anorthosite project in Greenland.
The transaction allows Greenland Mines to expand 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. This aligns with growing demand for environmentally friendly critical mineral processing methods, particularly as global efforts intensify to secure reliable supply chains for materials essential to clean energy technologies, electric vehicles, and defense applications.
The investment is expected to close by June 30, subject to customary closing conditions, including acceptance by the TSX Venture Exchange. Greenland Mines' strategy centers on building a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities. The company operates two divisions: Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of a previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and Biotech, including Klotho's KLTO-202 primary indication for ALS.
This move comes amid increasing geopolitical focus on securing critical mineral supply chains, particularly in Greenland, which holds significant deposits of rare earth elements and other strategic minerals. By integrating AnorTech's processing technologies, Greenland Mines aims to reduce reliance on traditional bauxite processing and associated environmental impacts, potentially offering a more sustainable alternative for alumina production. The company's North Atlantic Critical Metals Corridor vision links Greenland resources with allied downstream jurisdictions and industrial infrastructure, enhancing supply chain resilience.
For more details on the transaction, visit the full press release at https://ibn.fm/uIGCl. Additional information about Greenland Mines is available at https://greenlandmines.com/. The latest news and updates relating to GRML are available in the company's newsroom at https://ibn.fm/GRML.
Forward-looking statements in this release involve risks and uncertainties, as detailed in the company's SEC filings. Undue reliance should not be placed on forward-looking statements, which are based on information available as of the date hereof. All parties undertake no duty to update this information unless required by law.
