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INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventories

The Company’s inventories consisted of the following:

			September 30, 2024						December 31, 2023
(in thousands)
Raw materials and supplies, including spare parts(1)			$	46,138					$	42,371
Mined ore stockpiles			30,300						28,507
Work in process			24,695						15,019
Finished goods			15,566						9,285
Total current inventories			116,699						95,182
Add: Non-current portion(2)			19,825						13,350
Total inventories			$	136,524					$	108,532

(1)Includes raw materials to support activities pertaining to the Company’s rare earth metal, alloy and magnet manufacturing capabilities.

(2)Primarily represents stockpiled ore that is not expected to be processed within the next 12 months as well as certain raw materials that are not expected to be consumed within the next 12 months. The stockpiled ore amounts as of September 30, 2024 and December 31, 2023, were $12.0 million and $9.1 million, respectively.

Schedule of Noncurrent Inventories

The Company’s inventories consisted of the following:

			September 30, 2024						December 31, 2023
(in thousands)
Raw materials and supplies, including spare parts(1)			$	46,138					$	42,371
Mined ore stockpiles			30,300						28,507
Work in process			24,695						15,019
Finished goods			15,566						9,285
Total current inventories			116,699						95,182
Add: Non-current portion(2)			19,825						13,350
Total inventories			$	136,524					$	108,532

(1)Includes raw materials to support activities pertaining to the Company’s rare earth metal, alloy and magnet manufacturing capabilities.

(2)Primarily represents stockpiled ore that is not expected to be processed within the next 12 months as well as certain raw materials that are not expected to be consumed within the next 12 months. The stockpiled ore amounts as of September 30, 2024 and December 31, 2023, were $12.0 million and $9.1 million, respectively.

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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.

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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(6)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483489/210-10-50-1

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Tabular disclosure of inventories not expected to be converted to cash, sold or exchanged within the normal operating cycle including inventoried costs relating to long-term contracts or programs.

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