The Aluminium Crisis Nobody Saw Coming

The Aluminium Crisis Nobody Saw Coming

Aluminium prices are at a four-year high, up more than 25% this year, as war in the Middle East and a blocked Strait of Hormuz choke off nearly a quarter of the world's seaborne metal supply. In this episode, Henry Sanderson speaks with Paul Adkins of AZ Global Consulting about the structural shortage reshaping the aluminium market: which Gulf smelters have been knocked out, why a bombed plant can take a year or more to rebuild, and why China — which makes 60% of the world's aluminium — won't ride to the rescue. Plus: how Europe's carbon border rules are quietly transforming Chinese industry, and why this war could force a fundamental rethink of where the world builds its aluminium smelters.

China's Rare Earth Weapon: Inside the 'Mineral War' with Tomasz Nadrowski

China currently holds an unprecedented grip on the critical minerals and rare earth magnets that power our future—from EVs to wind turbines. As export restrictions tighten, is the West finally moving from "strategic competition" into an actual war footing? In this episode, host Henry Sanderson sits down with Tomasz Nadrowski, a New York-based fund manager and author of the new book, Mineral War: China’s Quest for Weapons of Mineral Destruction. [https://www.amazon.co.uk/Mineral-War-Chinas-Weapons-Destruction/dp/B0GHDYRLZK] They dive into why the US and Europe built "houses of straw" while Japan prepared for the storm, the massive financing advantage China holds over Western miners, and whether the West can actually rebuild its supply chains before time runs out. Go Deeper:For more analysis on the geopolitical race for resources, subscribe to Volt Insight [https://www.google.com/search?q=https://yourlinkhere.substack.com], the companion newsletter to this podcast, available on Substack. Sign up to Amvest Capital's newsletter https://mailchi.mp/amvestcapital/terraden [https://mailchi.mp/amvestcapital/terraden].

Why Can’t The World Quit Coal?

We are burning more coal than at any point in human history — more than during the Industrial Revolution, and more than during the global energy crisis of the 1970s. Global coal demand likely rose by 0.5% last year to a record 8.85 billion tonnes, according to the International Energy Agency, driven largely by China. This is happening despite the rapid reduction in the cost of solar panels, wind turbines, and lithium-ion batteries. So why can’t the world quit coal? Lucy Shaw, who writes the ⁠Slow Burn substack newsletter⁠ [https://esgstuff.substack.com/], digs into this contradiction in this episode.

Unlocking Chile’s Lithium: Boric’s Legacy and the Future of Supply

Chilean President Gabriel Boric is nearing the end of his term. One of Boric’s signature achievements was his National Lithium Strategy — an effort to open new areas for lithium production and reshape how Chile manages one of the world’s most important critical minerals. I’m joined by Ignacio Mehech, CEO of CleanTech Lithium and formerly Country Manager for Albemarle in Chile. Ignacio offers an insider’s view on what Boric’s strategy was really trying to achieve — and what may change under the next administration. The company plans to re-apply for a special lithium operating contract ("CEOL") for its Laguna Verde project in Chile. We dig into the strict new technological requirements, including the mandated use of Direct Lithium Extraction (DLE), a process that could make Chilean lithium far more sustainable but is not yet proven at large scale. With decades of experience in the sector, Ignacio is the perfect guide to Chile’s next chapter in lithium.

Bill Gates-backed Mantle8 and the race for natural hydrogen

Hydrogen is the universe’s oldest and most abundant element. The clean energy discussion has centered on “green hydrogen”—manufacturing it using renewable electricity. But what if the earth itself held vast, untapped reserves of pure, naturally occurring hydrogen, ready for us to tap into? In this week’s podcast I speak to Emmanuel Masini, known as Manu, a geologist and the CEO of Mantle8 [https://mantle8.com/], a company at the forefront of exploring this game-changing resource. The company is backed [https://mantle8.com/natural-hydrogen-exploration-startup-mantle8-raises-e3-4m-seed-round-to-scale-revolutionary-technology] by Bill Gates’ Breakthrough Energy Ventures and Kiko Ventures. We discuss how natural hydrogen is formed in the earth’s crust, and what conditions need to exist to find pure natural hydrogen. Manu explains what he calls the “geological trifecta” that is needed for economic natural hydrogen extraction. Extraction of natural hydrogen could overcome the cost barriers of green hydrogen production, which remains much higher than hydrogen produced from fossil fuels. Mantle8 is targeting a production cost of less than one euro per kilogram, compared to between 5 to 7 euros for green hydrogen produced from renewable sources of electricity. Currently the only producing natural hydrogen well is in Mali, but it only produces around 5 tonnes a year.