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COMMITMENTS AND CONTINGENCIES
 6 Months Ended
Jun. 30, 2025
COMMITMENTS AND CONTINGENCIES (Note 12)  
COMMITMENTS AND CONTINGENCIES

NOTE 12 – COMMITMENTS AND CONTINGENCIES

 

Historically, BRZ has from time to time been assessed fines and penalties by the Mine Safety and Health Administration (“MSHA”). During the six months ended June 30, 2025, BRZ received three citations from MSHA, one of which was significant and substantial. All three citations were rectified by BRZ and terminated by MSHA on the day the citations were issued. At June 30, 2025 and December 31, 2024, BRZ had “accrued liabilities” in the Condensed Consolidated Balance Sheets of $4,827 and $19,074, respectively, relating to MSHA citations.

 

BRZ has a lease with Zeolite, LLC that entitles BRZ to surface mine and process zeolite on property in Preston, Idaho, in exchange for an annual payment and a royalty payment, which is based on the amount of zeolite shipped from the leased property (“BRZ Lease”). In February 2025, the Company extended the BRZ Lease through December 31, 2034 with similar terms and conditions as the prior agreement.

 

In April 2025, the Company began contracting for engineering and construction services to expand its existing smelting operations located in Thompson Falls, Montana. Total capital expenditures associated with the expansion plans are estimated to be approximately $17,000,000 of which approximately $4,500,000 has been formally agreed to with various third-party vendors.