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PROPERTY, PLANT AND EQUIPMENT, NET | 6 Months Ended
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Jun. 30, 2021
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, NET | NOTE 4 – PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net consist of the following: Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment
|  | June 30, 2021 |  | December 31, 2020
At cost: |  |  |  |  |  |  |  |
Mineral rights |  | $ | 2,985,480 |  |  | $ | 2,955,780 |
Buildings |  |  | 64,668,005 |  |  |  | 64,024,667 |
Plant and machinery |  |  | 260,997,193 |  |  |  | 258,400,710 |
Motor vehicles |  |  | 31,724 |  |  |  | 6,553 |
Furniture, fixtures and office equipment |  |  | 3,353,441 |  |  |  | 3,318,564 |
Construction in process |  |  | 23,271,504 |  |  |  | 12,095,565 |
Total |  |  | 355,307,347 |  |  |  | 340,801,839 |
Less: Accumulated depreciation and amortization |  |  | (183,189,944 | ) |  |  | (173,212,554 | )
Impairment |  |  | (18,828,910 | ) |  |  | (18,641,596 | )
Net book value |  | $ | 153,288,493 |  |  | $ | 148,947,689 |
The Company has certain buildings and salt pans erected on parcels of land located in Shouguang, PRC, and such parcels of land are collectively owned by local townships or the government authority. The Company has not been able to obtain property ownership certificates over these buildings and salt pans. The aggregate carrying values of these properties situated on parcels of the land are $18,587,921 and $19,302,600 as at June 30, 2021 and December 31, 2020, respectively. During the three-month period ended June 30, 2021, depreciation and amortization expense totaled $4,119,073 of which $758,445, $163,868 and $3,196,760 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue. During the six-month period ended June 30, 2021,depreciation and amortization expense totaled $8,222,022 of which $2,575,227, $327,101 and $5,319,694 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue. During the three-month period ended June 30, 2020, depreciation and amortization expense totaled $4,103,026 of which $1,167,114, $198,413 and $2,737,500 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue. During the six-month period ended June 30, 2020, depreciation and amortization expense totaled $7,556,589 of which $3,745,884, $399,819 and $3,410,886 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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