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PROPERTY, PLANT AND EQUIPMENT, NET | 3 Months Ended
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Mar. 31, 2022
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
|  | March 31, 2022 |  | December 31, 2021
At cost: |  |  |  |  |  |  |  |
Mineral rights |  | $ | 3,037,938 |  |  | $ | 3,025,017 |
Buildings |  |  | 35,055,241 |  |  |  | 34,906,137 |
Plant and machinery |  |  | 201,702,769 |  |  |  | 201,012,254 |
Motor vehicles |  |  | 140,159 |  |  |  | 139,563 |
Furniture, fixtures and office equipment |  |  | 2,505,055 |  |  |  | 2,494,400 |
Construction in process |  |  | 68,574,529 |  |  |  | 44,310,149 |
Total |  |  | 311,015,691 |  |  |  | 285,887,520 |
Less: Accumulated depreciation and amortization |  |  | (128,599,846 | ) |  |  | (123,229,974 | )
Impairment |  |  | — |  |  |  | — |
Net book value |  | $ | 182,415,845 |  |  | $ | 162,657,546 |
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 $17,526,711 and $17,911,910 as at March 31, 2022 and December 31, 2021, respectively. During the three-month period ended March 31, 2022, depreciation and amortization expense totaled $5,001,619, of which $1,761,068, $1,197,687 and $2,042,864 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue, respectively. During the three-month period ended March 31, 2021, depreciation and amortization expense totaled $4,102,929, of which $1,816,782, $163,233 and $2,122,914 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue, respectively.

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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 https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://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 https://asc.fasb.org/extlink&oid=126982197&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 https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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