Mining magnate Gina Rinehart's move to increase Hancock Prospecting's stake in Liontown Resources has sparked speculation she may be positioning to negotiate with US company Albemarle.

Hancock, led by Rinehart, boosted its stake in the Perth-based lithium miner to 10.7% after acquiring over 44 million shares for $132 million.

The acquisition comes after Liontown accepted Albemarle's $6.6 billion takeover offer. The firm continues its due diligence before the takeover vote.

Earlier this month, Hancock purchased a 7.72% stake in Liontown for $500 million.

While Liontown secured supply deals with major companies like Ford and Tesla for its Kathleen Valley lithium project, Hancock emphasised project execution expertise amid market challenges.