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PROPERTY, PLANT AND EQUIPMENT (Tables) | 9 Months Ended
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Sep. 30, 2024
Property, Plant and Equipment [Abstract] |
Schedule of Property, Plant and Equipment and Depreciation and Depletion Expense | The Company’s property, plant and equipment consisted of the following:
| September 30, 2024 |  | December 31, 2023
(in thousands) |
Land and land improvements | $ | 40,254 |  |  | $ | 27,091 |
Buildings and building improvements | 95,236 |  |  | 92,203 |
Machinery and equipment | 564,681 |  |  | 503,145 |
Assets under construction | 262,994 |  |  | 211,848 |
Mineral rights | 438,395 |  |  | 438,395 |
Property, plant and equipment, gross | 1,401,560 |  |  | 1,272,682 |
Less: Accumulated depreciation and depletion | (171,043) |  |  | (114,628) |
Property, plant and equipment, net | $ | 1,230,517 |  |  | $ | 1,158,054 |
The Company’s depreciation and depletion expense were as follows:
| For the three months ended September 30, |  | For the nine months ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Depreciation expense | $ | 16,018 |  |  | $ | 13,951 |  |  | $ | 46,012 |  |  | $ | 28,385 |
Depletion expense | $ | 2,969 |  |  | $ | 2,664 |  |  | $ | 8,864 |  |  | $ | 8,407 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
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