<p>The structure, morphology and high-temperature oxidation of composite powders made by high-energy ball milling of powders, mixture of aluminum, activated carbon and graphite in the ratio 95/4/1, were investigated. The ball milling was carried out in AGO-2U laboratory planetary mill with water cooling. The grinding medium consisted mixture of hexane, SPAN-80 (sorbitan monooleate), and paraffin.&#xa0;The content of SPAN-80 was varied within the range of 1 to 7.5% by weight (wt). It was found that oxidation of aluminum in composite powders proceeds in two clearly distinguished stages, and the oxidation rate is extremely high. The reasons for the high reactivity of aluminum in composite powders are discussed.</p> Graphical Abstract <p></p>