Aggregator
‘The Shards’ Ending Explained: Will There Be A ‘Shards’ Season 2?
Trump will pledge to slash ‘out-of-control credit card swipe fees’ at GOP midterm convention
Trump vows to end cashless bail and increase death penalty use at Republican midterm convention
Trump tells RNC midterm convention he must ‘finish the job’ — lays out plan for next two years of GOP control
Paul Pelosi’s Bloom trade blossoms — what a surprise
AI has taken a toll on kids’ brains — removing technology from the classroom will fix that
NextEra Secures $1.9BN Loan From Dept Of Energy For Restart Of Duane Arnold Nuclear Power Plant
By Zachary Skidmore of DataCenterDynamics
NextEra Energy has secured a $1.9 billion loan from the US Department of Energy’s Office of Energy Dominance Financing (EDF) to support the restart of the Duane Arnold nuclear power plant, which is tied to a long-term Power Purchase Agreement (PPA) with Google.
The plant, located in Linn County, Iowa, is the only nuclear energy project in the state and first entered service in February 1975. However, due to the 2020 Midwest derecho (straight-line windstorm), which damaged the facility’s cooling towers, repairs were deemed uneconomical, leading to its shutdown.
Duane Arnold Energy Center in Linn County, IowaReports surfaced in 2024 that NextEra was considering a restart of the 615MW plant, following Microsoft's announcement that it would take 100 percent of a revived Three Mile Island nuclear power plant in Pennsylvania. The company subsequently announced that it had signed a 25-year PPA with Google in October, with the plant expected to begin delivering power by 2029.
According to the DOE, the latest loan will help finance the restart of the plant and represents the third loan provided by EDF to support a nuclear plant restart in the US. These include the Crane Clean Energy Center (Three Mile Island Unit 1), which received a $1bn loan, and the Palisades nuclear power plant in Covert Township, Michigan, which secured a $1.52bn loan.
“President Trump has set an ambitious course to restore American nuclear leadership, and the restart of Duane Arnold Nuclear Plant in Iowa marks another step in advancing America’s nuclear renaissance,” said US deputy secretary of energy James P. Danly. “Returning 615MW of reliable baseload generation will drive down electricity costs, while supporting thousands of American jobs. This administration is pursuing a comprehensive nuclear strategy, restarting existing reactors, increasing the output of our nuclear fleet, and accelerating new construction, to build the abundant, affordable, and reliable power system required for American prosperity and reindustrialization.”
The plant is one of several to have its capacity contracted to a hyperscale data center firm. In addition to Google and Microsoft, Meta signed a 20-year PPA with Constellation Energy for the entire output of the 1.1GW Clinton Clean Energy Center in Clinton, Illinois. AWS has also gotten in on the act, signing a 1.92GW PPA with Talen Energy for energy from the 2.5GW Susquehanna nuclear power plant in Pennsylvania.
Tyler Durden Wed, 09/09/2026 - 21:45Angelina Jolie makes rare comment about raising her 6 children to be ‘individuals’
Angelina Jolie makes rare comment about raising her 6 children to be ‘individuals’
Ralph Lauren opens New York Fashion Week with celeb-packed show
Barry Melrose, NHL head coach and longtime ESPN analyst, dead at 70
Harrowing video shows man, 40, fatally stabbed on NYC street after confronting group with metal pole
Ben Shelton’s former coach reveals how he slayed Carlos Alcaraz — and has a bold US Open prediction for American star
Lakers release new dazzling ‘specter’ jerseys
Lunatic California professors throw profane public tantrums
Steelers star Cameron Heyward goes scorched earth on franchise tag amid Joey Porter Jr. saga
"Not Behind Us": Major US Tool Distributor Warns Tungsten Cost Shock Is Hitting Factory Floors
Speaking at the Jefferies Industrials Conference earlier on Wednesday, MSC Industrial executive Martina McIsaac warned of a tungsten supply shock rippling through the company's supply chain and continuing to drive up industrial tooling costs.
McIsaac told Steve Volkmann, an industrial analyst at Jefferies, that inflation affecting tungsten carbide inputs is "in the neighborhood of 500%" and said suppliers were still passing higher costs through the manufacturing chain.
Cutting tools represent about 15% of MSC's revenue, making tungsten a major source of pricing pressure for one of the largest industrial distributors of tools and supplies across North America used by factories and machine shops. Notably, Grainger and Fastenal are larger by revenue.
"Tungsten has been the biggest driver," McIsaac said. "It's not our whole business, but it's a chunk of business, and it's not behind us."
Volkmann asked McIsaac: "Okay. And you said that it wasn't over yet, but I believe tungsten prices have flattened out a bit."
McIsaac responded: "They have stabilized, but the ripples through the supply chain aren't over yet. So some suppliers, for example, depending on where they source their tungsten powder and how much they had on hand, the cadence of their increases is all different. So every supplier is behaving a little differently, but there's still a way to come. I think we said in the third quarter, we expected late ... our late fourth quarter, early first quarter, there would be another price increase."
MSC sells tungsten-carbide cutting tools used to machine metal parts across North America. McIsaac's comments offer one of the first examples we've found of how the severe tungsten shortage, driven by China's export restrictions and continued Western demand, is pressuring industrial customers. Prices have climbed above $3,000, according to a recent Cantor Fitzgerald note.
China's dominance of tungsten production has certainly exposed a major vulnerability in Western manufacturing and defense supply chains.
The latest Katusa Research note puts China's share of global tungsten mine production at roughly 79% last year, or 67,000 tons out of 85,000 tons worldwide. The US has had no commercial mine production since 2015.
Beijing's February 2025 export-licensing requirements intensified that dependence. Katusa cites a nearly 70% decline in Chinese exports of ammonium paratungstate, or APT, through the first 11 months of 2025.
Rotterdam APT prices jumped from around $390 per metric ton unit at the beginning of 2025 to roughly $3,400 this spring, according to Katusa Research.
Citing Financial Times reporting, Katusa said that Chinese traders have panic-hoarded carbide inserts, drill bits and worn tooling, sometimes bidding as much as five times normal market prices.
Christian Keller, Barclays' global head of economics research, co-authored a note on Tuesday warning that "China's quasi-monopolistic position provides it with significant geopolitical leverage."
The end result has been a mad dash across the West, from governments to importers, to secure tungsten supplies outside China ahead of any further tightening of Chinese supply. However, there is only one problem...
Companies that can bring supply online sooner could capture a crucial early market advantage, including Almonty as it ramps up tungsten production in South Korea.
Jefferies initiates critical mineral companies Almonty, Materion, USA Rare Earth and Neo Performance with Buy; the firms are expected to benefit from increased demand for supply outside of China.
Almonty (buy, PT $26.25)
Sees Almonty offering public exposure to Western tungsten…
Deliverable supplies of critical materials from outside China can command a higher premium, reinforcing our broader decoupling theme. Our view is to identify companies positioned to bring new supplies to market as governments and manufacturers rebuild supply chains on an ex-China basis.
Tyler Durden Wed, 09/09/2026 - 21:20