The Fuse

Minerals & Materials

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Geopolitical Supply Shocks Reshaping Global Aluminum Availability

Last week’s attacks on two of the world’s largest aluminum smelters have increased fears that aluminum prices could persist. Combined with recent Iranian attacks on critical energy infrastructure throughout the Middle East, primary producers are in a precarious position—facing increased energy costs and damaged facilities. The aluminum market, which was already undergoing a structural realignment before the current conflict, is now teetering on a crisis. 

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Minerals & Materials

Disruption in the Strait of Hormuz is Cutting Off Military-Grade Aluminum

When geopolitical crises erupt in the Middle East, Americans instinctively worry about oil. But the conflict in Iran is also disrupting military-grade aluminum supply chains dependent on Middle Eastern nations and the Strait of Hormuz.

topics: aluminum, Geopolitics, Iran, National Security, supply chains
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Minerals & Materials

Introducing FORGE: The Trump Administration’s Evolving Approach to U.S. International Critical Minerals Partnerships

The Trump Administration’s evolving approach to international collaboration provides additional space for U.S. leadership in shaping the global critical minerals agenda. New initiatives, such as FORGE and Pax Silica, alongside bilateral agreements and engagement through established platforms like the G7 and G7+, provide Washington with multiple entry points to advance strategic priorities and influence policy.

topics: critical minerals, Energy, supply chains
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Minerals & Materials

No Power, No Smelter: The Real Test of America’s Aluminum Revival

Electricity policy, not capital, is now the biggest constraint on domestic aluminum production. The Century–Emirates Global Aluminum announcement, although welcome and long overdue, is a reminder of how far policy must go to make the next wave of American industrial resurgence a reality.

topics: aluminum, Energy, Grid & Infrastructure
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Advancing Mobility

What Welcoming Chinese Automakers Means for National Security

Same as it ever was? Not this time. Foreign investment from a direct adversary won't end well.

topics: Auto Manufacturing, China, Chinese Automakers, Defense Industrial Base, National Security
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Minerals & Materials

Not Your Typical Section 232 Tariffs Actions: Next Steps for Critical Minerals

Unlike aluminum and steel, the Trump administration is taking a different tack with critical minerals. President Trump is signaling concern for preserving access to processed minerals and derivatives as U.S. demand surges, processing capacity has been hollowed out, and new projects will not come online fast enough.

topics: critical minerals, Geopolitics, supply chains, Tariffs
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Minerals & Materials

The Department of War’s $150 Million Alumina Investment: What it Means for the U.S. Defense Industrial Base

The U.S. aluminum industry is facing a critical juncture, balancing rising demand with dwindling supply. The U.S. Department of War $150 million investment into Atlantic Alumina to produce more than 1 million metric tons of alumina and up to 50 metric tons of gallium per year is a vital step towards achieving the Trump administration’s goals of a manufacturing resurgence, establishing supply chain security, and fortifying the defense industrial base.

topics: aluminum, critical minerals, supply chains
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Minerals & Materials

I Read the U.S. Geological Survey’s Critical Minerals Methodology So You Don’t Have To

The U.S. Geological Survey (USGS) and the U.S. Department of the Interior (DOI) unveiled the highly anticipated 2025 List of Critical Minerals, an expanded catalog now covering 60 minerals deemed essential to U.S. economic and national security. The updated list and methodology offers a window into the key considerations shaping how policymakers assess risk and determine which supply chains warrant the most attention. We read the list and methodology, and break it down for you in our latest Fuse post, so you don't have to.

topics: critical minerals, supply chains
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Minerals & Materials

U.S. Critical Minerals Diplomacy Gains Ground in Asia

The recent deals between the United States and Cambodia, Malaysia, and Thailand demonstrate the Trump Administration’s interest in cultivating broader relationships in Asia through critical minerals dealmaking, marking a rapid expansion of U.S. critical minerals diplomacy in the region. Whether these agreements translate into sustained cooperation and real project delivery will depend on follow-through, financing, and the ability to reconcile differing priorities among partners.

topics: critical minerals
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Minerals & Materials

What’s New in the New U.S.-Australia Critical Minerals Agreement?

The new United States-Australia Minerals Framework marks the next phase of a partnership that has been steadily deepening for years, and builds on sustained cooperation that was initiated by the first Trump administration. The Framework calls for increased collaboration, potential strategic stockpiles and reserves, and price floors, but many of these policy tools are still in early stages, and key decisions lie ahead.

topics: critical minerals, supply chains
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Minerals & Materials

PRC’s Evolving Export Controls: From Retaliation to a Global Compliance Regime

China's recent expansion of export controls to super hard materials, medium and heavy rare earth elements (REEs), REE production equipment, and high-density lithium-ion batteries and battery materials highlights China's desire to institutionalize control over global supply chains and the dangerous vulnerabilities driving long-term diversification and resilience efforts among allied economies.

topics: China, critical minerals, Geopolitics