CME's lithium hydroxide contract is cash-settled, therefore easy to use as hedgers do not need to worry about taking delivery of unsuitable grades.

Junior producers have been particularly hard hit.

Commodities as a whole had a challenging year, with the group finishing down 12.55% due to a number of factors.

An environmental impact study will be filed for an exploration program to be completed on Block IV during the year.

The Western Australia-based junior entered the ASX on the right foot, having raised A$15 million ($10m) on a heavily oversubscribed IPO.

A series of disappointments for the mining industry comes against the backdrop of weak commodity prices — although gold has been an exception.

A critical review of current developments in the global lithium industry and key takeaways by Chris Williams, Analyst at Adamas Intelligence.