Sky Commanders(1987)

Deep in the South Pacific, a tumultuous and untamed new continent has erupted, spawned by a highly unstable new element, known as Phaeta-7. If this powerful new element could be controlled, whoever possessed it would be the undisputed ruler of the world! One man, General Lucas Plague, is determined to hold that title. And it's up to a rugged team of mountaineering experts, led by Commander Mike Summit, to stop him.