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ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH
 6 Months Ended
Jun. 30, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations and Restricted Cash ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH
Asset Retirement Obligations
The following table summarizes the Company’s asset retirement obligations:
Asset retirement obligations, December 31, 2023$10,922 
Revision of estimate177 
Accretion of liabilities589 
Asset retirement obligations, June 30, 2024$11,688 
The Company’s asset retirement obligations are subject to legal and regulatory requirements. Estimates of the costs of reclamation are reviewed periodically by the Company and the applicable regulatory authorities.
The upward revision of the estimate of $0.18 million for the six months ended June 30, 2024 includes net changes in estimated costs of future reclamation activities. These revisions were recognized in Property, plant and equipment, net on the Consolidated Balance Sheet and will be depreciated over the useful life of the related asset.
Restricted Cash
The Company has cash, cash equivalents and fixed income securities as collateral for various bonds posted in favor of the applicable state regulatory agencies in Arizona, Colorado, New Mexico, Utah and Wyoming, and the U.S. Bureau of Land Management and U.S. Forest Service for estimated reclamation costs associated with the White Mesa Mill, Nichols Ranch and other mining properties. The restricted cash will be released when the Company has reclaimed a mineral property, sold a mineral property to a party having assumed the applicable bond requirements, or restructured the surety and collateral arrangements. See Note 13 – Commitments and Contingencies for more information.
The following table summarizes the Company’s restricted cash:
Restricted cash, December 31, 2023$17,579 
Additional collateral posted345 
Restricted cash, June 30, 2024$17,924