Hancock Prospecting's stake in Azure is just short of the 20% level that would require a mandatory buyout offer.

The Australian billionaire, who recently thwarted Albemarle’s buyout of Liontown, is said to be evaluating ways to hinder SQM's bid.

The miner is confident about the positive effects that supply curbs by major producers and India's two-month import moratorium will have on the market.

The Chilean lithium giant will ultimately increase its interest to 40% by spending $1.9 million in exploration.

It comes as Ghana seeks to diversify away from gold production to tap into the multibillion-dollar battery metals industry.

With its JV partners now out of the picture, Paladin will work on defining a path forward for the project in Labrador, Canada.

The acquisition would mark the Chilean copper giant's first foray into the lithium space, as part of the country's new public-private model for the sector.