Indonesia Launches $10.2B Downstream Projects at Weda Bay, Including Aluminum Developments

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 09 Oct , 2026

Listed enterprise Greenland Mines announced that it has fully exercised its option to acquire an additional 9.9% stake in Canadian anorthosite producer AnorTech, increasing its shareholding to 19.9%. AnorTech owns the Gronne Bjerg project in Greenland and holds a proprietary, patent-pending process that can produce sustainable smelter-grade alumina and high-purity alumina from anorthosite without generating bauxite residue tailings; the process also yields multiple saleable by-products, including amorphous silica, calcium silicate, CO2-free refractory cement, 3D-printable cement, and alumina-based catalysts. Greenland believes the Gronne Bjerg project has the potential to become a raw material source for US smelter-grade alumina and high-purity alumina production, while US net imports in 2025 are estimated to have met approximately 71% of its alumina consumption. Greenland President Bo Møller Stensgaard stated that the company aims to establish a supply chain from Greenland to the US that can operate independently of Chinese refining, enabling more processing, manufacturing, and value creation in the US. This increased stake further expands its "North Atlantic Critical Metals Corridor" footprint, providing a potential alternative source for the US alumina supply chain and supporting US industrial self-sufficiency goals.