Latest news with #MarcLevy
Yahoo
6 days ago
- Business
- Yahoo
Pennsylvania is suing the USDA over cutting funding to a $1 billion food aid program for states
HARRISBURG, Pa. (AP) — Pennsylvania sued the U.S. Department of Agriculture on Wednesday, saying the agency, under President Donald Trump, had illegally cut off funding to it through a program designed to distribute more than $1 billion in aid to states to purchase food from farms for schools, child care centers, and food banks. The lawsuit in federal court, announced by Gov. Josh Shapiro, a Democrat, comes three months after the USDA advised states that it was ending the pandemic-era assistance program because it no longer reflected agency priorities. 'I don't get what the hell their priorities are if not feeding people and taking care of our farmers," Shapiro said at a news conference at a food bank warehouse in Philadelphia. The USDA did not immediately respond to a request for comment Wednesday. The lawsuit, filed in federal court in Harrisburg, asks the court to reverse the USDA's decision to end the reimbursement program. Shapiro's administration, in the lawsuit, said the USDA's termination of the contract was illegal, saying the USDA didn't explain why it no longer reflected agency priorities and that the contract didn't expressly allow the USDA to terminate it for those reasons. Shapiro said he was confident that Pennsylvania would win the lawsuit. 'A deal is a deal,' Shapiro told the news conference. 'They made a deal with our farmers, they made a deal with Pennsylvania and they broke it.' The loss to Pennsylvania is $13 million under a three-year contract, money that the state planned to use to buy food from farms to stock food banks. States also use the money to buy food from farms for school nutrition programs and child care centers. Purchases include commodities such as cheese, eggs, meat, fruits and vegetables. The department, under then-President Joe Biden, announced a second round of funding through the program last year. ___ Follow Marc Levy on X at Marc Levy, The Associated Press
Globe and Mail
15-04-2025
- Business
- Globe and Mail
Updated Mineral Resource Strengthens Micro Cap's Development Plans in Chile
Updating a Mineral Resource Estimate is crucial for advancing a mining project through economic studies and development planning. Not only is it important because it reflects the most recent drilling data and geological insights, giving a more accurate picture of the mineral deposit but it builds investor confidence, adds value to the project, and shows that the company is actively progressing toward production. That's exactly what was announced today when Norsemont Mining Inc. (CSE: NOM) (OTCQB: NRRSF) released an updated Mineral Resource Estimate (MRE) for its Choquelimpie Gold-Silver-Copper Project in Northern Chile. The new MRE outlines 2,184,000 indicated and 557,000 inferred gold equivalent ounces. The update was based on additional drilling and geological reinterpretations, highlighting the project's potential and reaffirming Norsemont's 100% ownership of the site through its Chilean subsidiary, Sociedad Contractual Minera Vilacollo. The breakdown of the MRE includes 81,888,000 tonnes of indicated resources grading 0.83 g/t gold equivalent (AuEq), with 1,731,000 ounces of gold, 33,233,000 ounces of silver, and 50,867,000 pounds of copper. Inferred resources stand at 25,267,000 tonnes grading 0.69 g/t AuEq, containing 446,000 ounces of gold, 7,219,000 ounces of silver, and 19,104,000 pounds of copper. The updated estimate incorporates 3,144 meters of new drilling conducted in 2021 and improved modeling of oxidation zones. 'This updated Mineral Resource Estimate of 2,184,000 indicated and 557,000 inferred gold equivalent ounces marks a significant milestone for Norsemont and provides a strong foundation as we advance Choquelimpie toward development,' said Marc Levy, President and CEO. He emphasized the enhanced confidence in the resource and the project's growth potential. Moving forward, Norsemont will continue drilling in oxide and sulfide zones, as well as conduct metallurgical testing and economic studies to support a Preliminary Economic Assessment. Shares of NOM were trading up 16.67% at $0.245 while U.S. listed shares (NRRSF) were surging 27.14% at $0.178 in late-morning trading. Copyright © 2025 All rights reserved. Republication or redistribution of content is expressly prohibited without the prior written consent of shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. View more of this article on About Media, Inc.: Founded in 1999, is one of North America's leading platforms for micro-cap insights. Catering to both Canadian and U.S. markets, we provide a wealth of resources and expert content designed for everyone—from beginner investors to seasoned traders. is rapidly gaining recognition as a leading authority in the micro-cap space, with our insightful content prominently featured across numerous top-tier financial platforms, reaching a broad audience of investors and industry professionals. Want to showcase your company's story to a powerful network of investors? We can help you elevate your message and make a lasting impact. Contact us today. Contact: Media, Inc.
Yahoo
02-04-2025
- Business
- Yahoo
Pennsylvania's largest coal-fired power plant, now retired, to become gas-powered data center campus
HARRISBURG, Pa. (AP) — The owners of what was once Pennsylvania's biggest coal-fired power plant said Wednesday that they will turn it into a $10 billion natural gas-powered data center campus designed to capitalize on the fast-growing energy demands of Big Tech companies to power artificial intelligence and cloud computing applications. The former Homer City Generating Station, about 50 miles (80 kilometers) east of Pittsburgh, will host seven gas-fired turbines to power data centers on site with up to 4.5 gigawatts of electricity, according to the owners, an investor group named Homer City Development. That amount of electricity is enough to power about 3 million homes. Construction is expected to begin this year and power could start flowing by 2027, the group said in a statement. The cost to prepare the site and build the data centers could exceed the initial $10 billion investment by billions more, the group said. Much of the critical infrastructure for the project is already in place from the shuttered Homer City power plant, including transmission lines connected to the mid-Atlantic and New York power grids, substations and water access, the group said. The developers were awarded a $5 million state grant to extend a gas line to the property, which sits atop the prolific Marcellus Shale natural gas reservoir. Last month, the group demolished the three cooling towers and four smokestacks still standing from the former coal plant. It shut down in 2023 after 54 years in operation. The owners, Homer City Development, blamed competition with cheaper natural gas, unseasonably warm winters that demanded less power, the rising cost of coal and increasingly expensive environmental regulations. The late 2022 debut of OpenAI's ChatGPT — built with help from Microsoft's data centers — ignited worldwide demand for chatbots and other generative AI products that typically require large amounts of computing power to train and operate. That has sent Big Tech companies in search of new power sources, spurred interest in a new wave of nuclear reactors, revived interest in building new gas-fired plants and stoked concerns among states and federal regulators about electricity shortages. It's also prompted utilities to delay the retirements of aging power plants and to bring nuclear power plants out of retirement, including last year's announcement that the shuttered Three Mile Island nuclear power plant will reopen under a 20-year agreement to feed Microsoft's data centers. ___ Follow Marc Levy on X at:
The Independent
02-04-2025
- Business
- The Independent
Pennsylvania's largest coal-fired power plant, now retired, to become gas-powered data center campus
The owners of what was once Pennsylvania 's biggest coal-fired power plant said Wednesday that they will turn it into a $10 billion natural gas-powered data center campus designed to capitalize on the fast-growing energy demands of Big Tech companies to power artificial intelligence and cloud computing applications. The former Homer City Generating Station, about 50 miles (80 kilometers) east of Pittsburgh, will host seven gas-fired turbines to power data centers on site with up to 4.5 gigawatts of electricity, according to the owners, an investor group named Homer City Development. That amount of electricity is enough to power about 3 million homes. Construction is expected to begin this year and power could start flowing by 2027, the group said in a statement. The cost to prepare the site and build the data centers could exceed the initial $10 billion investment by billions more, the group said. Much of the critical infrastructure for the project is already in place from the shuttered Homer City power plant, including transmission lines connected to the mid-Atlantic and New York power grids, substations and water access, the group said. The developers were awarded a $5 million state grant to extend a gas line to the property, which sits atop the prolific Marcellus Shale natural gas reservoir. Last month, the group demolished the three cooling towers and four smokestacks still standing from the former coal plant. It shut down in 2023 after 54 years in operation. The owners, Homer City Development, blamed competition with cheaper natural gas, unseasonably warm winters that demanded less power, the rising cost of coal and increasingly expensive environmental regulations. The late 2022 debut of OpenAI's ChatGPT — built with help from Microsoft 's data centers — ignited worldwide demand for chatbots and other generative AI products that typically require large amounts of computing power to train and operate. That has sent Big Tech companies in search of new power sources, spurred interest in a new wave of nuclear reactors, revived interest in building new gas-fired plants and stoked concerns among states and federal regulators about electricity shortages. It's also prompted utilities to delay the retirements of aging power plants and to bring nuclear power plants out of retirement, including last year's announcement that the shuttered Three Mile Island nuclear power plant will reopen under a 20-year agreement to feed Microsoft's data centers. ___ Follow Marc Levy on X at:
Yahoo
12-02-2025
- Business
- Yahoo
US approves fast-tracking power plants in mid-Atlantic grid over complaints that it favors gas
HARRISBURG, Pa. (AP) — The Federal Energy Regulatory Commission has approved a proposal from the operator of the congested mid-Atlantic grid to head off the potential for power shortages but that critics say will effectively fast-track the construction of new natural gas plants. The commission's Tuesday night decision, in a 3-1 vote, said the proposal by PJM Interconnection is 'just and reasonable and not unduly discriminatory or preferential.' The proposal was originally submitted in December. PJM, based in Pennsylvania, has said it made the proposal because a power shortage could affect the grid as early as 2026 as demand grows for electricity at the same time coal-fired plants and aging nuclear plants are retiring. PJM's criteria for an eligible project includes ones that are ready to build, can provide a relatively high power capacity and are likelier to produce electricity when the grid is most likely to see power shortfalls. It said it would open an application period for proposals and select 50 to study. Clean energy advocates say the process favors gas-fired plants, and they blame PJM for creating the existing reliability problem by taking an unduly long time to study proposed wind and solar energy projects in its project queue. Proposals awaiting PJM's approval are more than 97% solar, wind or battery storage, according to federal figures. Less than 3% are natural gas. Some critics questioned PJM's process. The Ohio Consumers' Counsel Office said it will be impossible for consumers to know whether PJM is selecting the most efficient or cost-effective power plants. Demand for electricity has spiked for the first time in decades, as tech companies competing in the artificial intelligence race pursue new power supplies for energy-hungry data centers. On top of that, cryptomining, the broader electrification of society and bipartisan political pressure to bring manufacturing back to the U.S. are fueling new electricity demand. PJM coordinates the electric grid through Delaware, eastern Kentucky, Maryland, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Washington, D.C., as well as small portions of Illinois, Indiana, Michigan and North Carolina. ___ Follow Marc Levy on X at:
