Lithium carbonate prices recently plunged to a four-year low, and Australia's ASX lithium shares haven't escaped the fallout.

As such, it could be time to take a closer look at ASX lithium miners.

Mineral Resources Ltd (ASX: MIN) 

Mineral Resources has been generating headlines for all the wrong reasons over the past year.

And the company's share price has been dragged down amid the barrage of bad news.

The Mineral Resources share price took another hit this week when the company lowered its iron ore output guidance for its Onslow operations.

At market close on Thursday, Mineral Resources shares finished trading at $22.72.

That's a long way from the $90 Mineral Resources shares were trading for back in late 2022.

With diversified operations spanning lithium, iron ore, and mining services, Mineral Resources' bottom line has not been hit as hard as some pure lithium plays as lithium prices plummet.

When lithium prices rebound, the company could be well-positioned for a turnaround.

Its joint ventures at Wodgina and Mt Marion give it exposure to some of the highest-grade spodumene in the world.

Meanwhile, its mining services business continues to cushion the blow of low commodity prices.

Mineral Resources may present an attractive option for some investors, but I'm steering clear until the company demonstrates that it's on top of its debt and management issues.

Pilbara Minerals Ltd (ASX: PLS) 

Pilbara Minerals, owner of the world-class Pilgangoora operation in Western Australia, is a pure lithium play.

As such, the company's share price has been hit hard by falling lithium prices.

At market close on Thursday, Pilbara Minerals shares finished trading at $1.315.

That represents a decline of 76% since late 2022, when the company's shares were trading at around $5.37.

At its current share price, Pilbara Minerals shares could indeed be too cheap to ignore.

Broker Bell Potter has forecast a loss of $68 million this year but expects Pilbara Minerals to return to profit in the following years.

The company is positioned to continue to withstand a degree of lithium price volatility.

In its March Quarter Activities Presentation, Pilbara Minerals reported having $1.1 billion in cash and an undrawn credit facility of $625 million.

When things turn around, Pilbara Minerals will be well placed to capitalise.

The company is also investing in downstream processing and expanding output.

The price of lithium will eventually go back up.

As such, now could be a great time to snap up the right ASX lithium shares at bargain prices.