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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 30, 2012
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Depreciation and Amortization policies on Property, Plant and Equipment, other than Mineral Rights and Construction in Progress

 

   

Useful life

(in years)
Buildings (including salt pans)   8 - 20
Plant and machinery (including protective shells, transmission channels and ducts)   5 - 8
Motor vehicles   5
Furniture, fixtures and equipment   8

 
Computation of Basic and Diluted Earnings Per Share
    Three-Month Period Ended
September 30,		     Nine-Month Period Ended
September 30,		  
    2012     2011     2012     2011  
Numerator                                
Net income   $ 4,113,216     $ 5,584,346     $ 13,088,997     $ 29,972,600  
                                 
Denominator                                
Basic: Weighted-average common shares outstanding during the period     34,560,743       34,620,004       34,560,743       34,694,607  
Add: Dilutive effect of stock options     139,246       -       396,476       1,057  
Diluted     34,699,989       34,620,004       34,957,219       34,695,664  
                                 
Net income per share                                
Basic   $ 0.12     $ 0.16     $ 0.38     $ 0.86  
Diluted   $ 0.12     $ 0.16     $ 0.37     $ 0.86