Greenland Mines Ltd (NASDAQ: GRML) (FSE: HK6) has exercised in full its option to acquire an additional 9.9% of AnorTech, raising its total ownership to 19.9%, the company announced on October 6, 2026. The move deepens Greenland Mines' involvement in critical-minerals development and expands its exposure to a project with applications ranging from industrial materials to space exploration.
The transaction involves the acquisition of 25,168,669 AnorTech common shares at a deemed price of C$0.30 per share, for aggregate consideration of approximately US$5.3 million, or C$7.55 million. The consideration will be satisfied through the issuance of Greenland Mines common shares. Following completion, Greenland Mines will hold 45,127,172 AnorTech shares. The deal remains subject to TSX Venture Exchange acceptance and customary closing conditions.
AnorTech is advancing its 100%-owned Gronne Bjerg anorthosite project near Nuuk, Greenland, along with technologies targeting smelter-grade and high-purity alumina, CO2-free cement, and other industrial materials. Anorthosite is a rock composed largely of plagioclase feldspar and is increasingly recognized as a source of alumina, a key input for aluminum production, and as a feedstock for low-carbon cement. The project's location in Greenland positions it within a region attracting growing interest for its mineral wealth and strategic proximity to North American and European markets.
Greenland Mines said the increased investment also provides exposure to potential lunar applications for anorthosite, which can be used as an analogue for lunar highlands geology and in lunar regolith simulants. AnorTech reports it has supplied anorthosite to space-sector researchers and has advanced research involving lunar simulants, 3D-printable construction materials, and refractory concretes and cements. This dual-use potential could open new markets beyond terrestrial construction and metallurgy, particularly as space agencies and private companies ramp up efforts to establish a permanent lunar presence.
The news matters for the mining and raw materials sector because it signals continued consolidation and investment in critical minerals projects in Greenland, a jurisdiction viewed as increasingly strategic for rare earths, alumina, and other materials essential to the energy transition and national security. Greenland Mines' broader portfolio includes the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. The company's strategy centers on building a multi-asset platform with exposure to rare earth magnet materials, precious metals, and select midstream processing opportunities, while advancing its North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
For readers tracking raw materials, this transaction underscores the growing importance of anorthosite as a multi-faceted industrial mineral. Its potential to supply smelter-grade alumina could offer an alternative source for aluminum producers, while its use in CO2-free cement aligns with global decarbonization goals. The lunar angle, though speculative, highlights how terrestrial mining projects can inform space resource utilization research, potentially creating new demand streams in the long term.
Investors and industry observers should note that the transaction is subject to regulatory approval and closing conditions, and that forward-looking statements involve risks and uncertainties. For more details, the full press release is available via https://nnw.fm/wIx6e, and the latest updates on Greenland Mines can be found in its newsroom at https://ibn.fm/GRML. Additional information about the company is available at Greenland Mines (NASDAQ: GRML) (FSE: HK6).
