Note 3 - Property, Plant and Equipment

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

PROPERTY, PLANT AND EQUIPMENT

NOTE 3—PROPERTY, PLANT AND EQUIPMENT

Property, plant, and equipment consisted of the following:

(In thousands)	June 30, 2023		December 31, 2022
Plant and equipment	$	251,002	$	232,885
Mining property and mineral rights		120,533		120,760
Construction in process		35,039		34,698
Capitalized mine development costs		165,812		153,436
Less: accumulated depreciation, depletion, and amortization		(114,822)		(111,937)
Total property, plant and equipment, net	$	457,564	$	429,842

On July 10, 2022, the Company experienced a methane ignition at the Berwind No. 1 mine, which was one of the active mines at our Berwind mining complex. The other mines resumed production while the Berwind No. 1 mine was idled until a full investigation could be conducted. There were no personnel in the mine at the time of the incident and no injuries or fatalities occurred. Production from the Berwind No. 1 mine restarted in the first quarter of 2023.

Depreciation, depletion, and amortization included:

	Three months ended June 30,				Six months ended June 30,
(In thousands)	2023		2022		2023		2022
Depreciation of plant and equipment	$	7,661	$	5,270	$	14,428	$	10,024
Amortization of right of use assets (finance leases)		1,999		1,383		3,881		2,097
Amortization and depletion of capitalized
mine development costs and mineral rights		3,896		3,130		7,098		6,342
Total depreciation, depletion, and amortization	$	13,556	$	9,783	$	25,407	$	18,463