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PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2025

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

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5. PROPERTY, PLANT AND EQUIPMENT

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​	​	​	​	​	​	​	​	​	​
​	​	Net Book Value of Property, Plant and Equipment at March 31, 2025
(thousands of dollars)		Alabama			Corporate			Total
Mineral rights and properties	​	$	8,972	​	$	—	​	$	8,972
Buildings	​	​	3,213	​	​	—	​	​	3,213
Other property, plant and equipment	​		4,105	​		12	​		4,117
Construction in progress	​	​	122,794	​	​	—	​	​	122,794
Total	​	$	139,084	​	$	12	​	$	139,096

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​	​	​	​	​	​	​	​	​	​
​	​	Net Book Value of Property, Plant and Equipment at December 31, 2024
(thousands of dollars)		Alabama			Corporate			Total
Mineral rights and properties	​	$	8,972	​	$	—	​	$	8,972
Buildings	​	​	3,243	​	​	—	​	​	3,243
Other property, plant and equipment	​		2,364	​		13	​		2,377
Construction in progress	​	​	123,276	​	​	—	​	​	123,276
Total	​	$	137,855	​	$	13	​	$	137,868

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Construction in Progress

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Construction in progress represents assets that are not ready for service or are in the construction stage. Assets are depreciated based on the estimated useful life of the asset once it is placed in service.  

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Impairment of Property, Plant and Equipment

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The Company reviews and evaluates its long-lived assets for impairment on an annual basis or more frequently when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. For the three months ended March 31, 2025, no events or changes in circumstance are believed to have impacted recoverability of the Company’s long-lived assets. Accordingly, it was determined that no interim impairment was necessary.  As discussed in Note 2, if the Company is required to abandon construction and development or alter its intended long-term plans related to the Kellyton Graphite Plant, the Company could be required to evaluate the recoverability of its long-lived assets.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-7

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