New sample preparation laboratory in Sudbury, Ontario

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

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.

The new policy will not affect those qualified as "advanced coal projects" such as the controversial Grassy Mountain mine.

Global gold production will peak at about 3,250 tonnes (105 million oz.) next year, according to CRU's Oliver Blagden.