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Assets Held For Sale
6 Months Ended
Jun. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]  
Assets Held For Sale Assets Held For Sale
The following table summarizes the Company’s Assets held for sale by asset class as of June 30, 2022 and December 31, 2021 (dollars in thousands):
June 30,
2022
December 31,
2021
Equipment not in use$9,913 $11,163 
Mine equipment115 125 
Materials and supplies270 270 
Total$10,298 $11,558 
The Assets held for sale are being marketed for sale and the Company has received interest from potential purchasers. It is the Company’s intention to complete the sales of these assets within the upcoming year. In February 2022, the Company completed the sale of a regrind mill that was included in equipment not in use for gross proceeds of $1.3 million. In June 2022, the Company entered into an Asset Option and Purchase Agreement to sell a dual pinion ball mill included in equipment not in use for an aggregate purchase price of $6.3 million. Payment terms included (i) an upfront non-refundable option payment of $0.6 million, which the Company received in June 2022 and was accounted for as a contract liability and included in Other liabilities, (ii) a non-refundable option payment of $4.8 million, payable no later than August 29, 2022, and (iii) a $0.9 million payment due within 30 days of the date of export, but not later than December 29, 2022.