INFOGRAPHIC: How much do geologists make?

Chilean conglomerate CAP, which has invested $80 million in the company's Penco project, will become a new shareholder.

The Halleck Creek project was named last year as one of the world’s top 10 rare earth projects.

The past year has been torrid for lithium, as a global slowdown in the pace of EV adoption left the market saddled with a glut.

Bullion traded near $2,626 an ounce in thin trading after closing 1.1% higher on Friday.