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Inventories | 12 Months Ended
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Dec. 31, 2024
Inventories [Abstract] |
Inventories |
| 9. | Inventories
|  | December 31, |
|  | 2024 |  |  | 2023 |
Current inventory: |  |  |  |  |  |
Finished goods |  | $ | 2,596,456 |  |  | $ | 2,332,207 |
Work-in-process |  |  | 128,451 |  |  |  | 92,439 |
Billets |  |  | 2,601,270 |  |  |  | 1,929,808 |
Raw materials and supplies |  |  | 4,574,146 |  |  |  | 4,661,167 |
Materials, spare parts and rollers |  |  | 1,261,415 |  |  |  | 1,186,889 |
Materials in-transit |  |  | 2,632 |  |  |  | 1,300 |
|  | $ | 11,164,370 |  |  | $ | 10,203,810 |
Non-current inventory:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Coke |  | $ | 1,414,703 |  |  | $ | 1,249,353 |
Spare parts |  |  | 70,486 |  |  |  | 73,268 |
Rollers |  |  | 203,701 |  |  |  | 197,308 |
Finished goods |  |  | 353,095 |  |  |  | 353,095 |
|  |  | 2,041,985 |  |  |  | 1,873,024 |
Less, valuation allowance at the lower of cost or net realizable value. |  |  | (353,095 | ) |  |  | (353,095 | )
|  | $ | 1,688,890 |  |  | $ | 1,519,929 |
The Company has $ 1,414,703 and $ 1,249,353 of coke inventory on hand as of December 31, 2024 and 2023, respectively (See note 4-e), which the Company would use as an input to its blast furnace in the Lorain facility which is currently idled. Management of the Company continually evaluates both the idled facility and the coke inventory for impairment. Management periodically evaluates the potential degradation of the coke inventory and has determined that it continues to be suitable as a blast furnace input or, alternatively, for sale to other blast furnace facilities. As noted in note 2, the plants located in the United States of America ceased operations in October 2023. The existing inventories in these plants amounted to $ 4,381,748.00 in the short term and $ 1,414,703.00 in the long term as of December 31, 2024. At the end of the year, the coke inventories and an important part of the other inventories were evaluated by an expert in the field.

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