U.S. seeks rare earths as Orsted fights wind halt - Sep 22, 2025

As of September 22, today’s news sees developments in energy projects and strategic material acquisitions, alongside significant corporate shifts and geopolitical negotiations. The U.S. Defense Logistics Agency is seeking to buy scandium oxide worth up to 40 million dollars over the next five years from a unit of mining giant Rio Tinto to secure supplies of the critical material for addition to the national stockpile. Scandium is one of the rare earth elements, whose importance to the Western defence and technology sectors has been in the spotlight since China, the main producer, imposed export controls. Meanwhile, a federal judge will consider today a request by Danish offshore wind developer Orsted to restart work on the nearly finished Revolution Wind project, which President Donald Trump's administration halted last month. Orsted and its joint venture partner Skyborn Renewables are asking Judge Royce Lamberth of the U.S. District Court in Washington to grant a preliminary injunction in a lawsuit they filed earlier this month challenging the U.S. Interior Department's stop-work order. On the financial side, the International Aluminium Institute announced that global primary aluminium output rose by 0.9% year-on-year in August, totaling 6.277 million tonnes. In further market updates, Spanish utility Iberdrola forecasts an increase in net profit to 6.4 billion euros this year, with expectations to reach 7.3 billion euros by 2028, newspaper Expansion says. Meanwhile, copper prices are experiencing stability, with rising inventories countered by restocking activities in China, resulting in little movement in prices. Looking at broader macro trends, a report from the World Nuclear Industry Status Report indicates that while global nuclear power production hit a record level in 2024, maintaining this momentum will be challenging due to aging infrastructure and required investments. The report outlines that 44 new nuclear startups should be initiated to sustain output through 2030, emphasizing concerns around current development speeds. Turning to notable corporate developments, Italian energy company Eni has signed a deal exceeding 1 billion euros with Commonwealth Fusion Systems to procure power from a future fusion energy project. This agreement illustrates the growing interest in fusion energy amidst rising electricity demand in the U.S. Furthermore, the Global Energy Alliance for People and Planet wants to invest around 7.5 billion dollars during its next five-year plan, executives told Reuters, and is seeking more philanthropic partners as richer nations cut government aid. In international news, a summit organized by France and Saudi Arabia aims to bolster support for a two-state solution concerning the Palestinian issue, though significant ground change appears unlikely. Additionally, Russian President Vladimir Putin has proposed a one-year extension to the New START nuclear weapons treaty with the U.S., stressing the need for continued dialogue on arms control amid ongoing geopolitical tensions.