Ganfeng Lithium and Tianqi Lithium have plunged 51% and 32% respectively since January.

Hancock Prospecting now owns 14.67% of the lithium producer, according to an ASX filing late Tuesday.

The company said it remains on track to achieve annual 2023 production guidance of 130,000 tonnes of lithium concentrate.

Sardinia's regional government said the pilot project for the recycling hub would have to be submitted to a full environmental impact assessment.

Lithium Royalty made an unsolicited offer to acquire TNR Gold for 8 Canadian cents per share on Friday.

Lithium prices are spiraling down toward the lowest level in two years on concerns over the strength of Chinese demand.

After signing a minerals deal with Japan in March, the US, along with both the EU and Britain, is now seeking similar agreements.

Hancock said on Friday it raised its stake from 10.7% last month to 12.4%.