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INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Current Inventories

The Company’s inventories consisted of the following:

			December 31,
(in thousands)			2022						2021
Materials and supplies(1)			$	28,590					$	10,711
In-process			27,212						25,574
Finished goods			1,752						2,407
Total current inventories			57,554						38,692
Add: Non-current portion(2)			5,744						—
Total inventories			$	63,298					$	38,692

(1)Includes materials acquired during the third quarter of 2022 to support activities pertaining to the Company’s rare earth metal, alloy and magnet manufacturing facility as a part of Stage III.

(2)Represents stockpiled ore that is not expected to be processed within the next 12 months.

Noncurrent Inventories

The Company’s inventories consisted of the following:

			December 31,
(in thousands)			2022						2021
Materials and supplies(1)			$	28,590					$	10,711
In-process			27,212						25,574
Finished goods			1,752						2,407
Total current inventories			57,554						38,692
Add: Non-current portion(2)			5,744						—
Total inventories			$	63,298					$	38,692

(1)Includes materials acquired during the third quarter of 2022 to support activities pertaining to the Company’s rare earth metal, alloy and magnet manufacturing facility as a part of Stage III.

(2)Represents stockpiled ore that is not expected to be processed within the next 12 months.

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- References

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- Definition

Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(6)(c))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.5-02(6)(b))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(6)(a))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

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