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PROPERTY, PLANT AND MINE DEVELOPMENT
6 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND MINE DEVELOPMENT PROPERTY, PLANT AND MINE DEVELOPMENT
Property, plant and mine development, net, is presented in the following table:
June 30,
2022
December 31,
2021
Mining interests$47,622,685 $39,303,043 
Mine development2,044,891 — 
Land688,829 688,829 
Facilities and equipment111,058 107,248 
Construction in process3,249,534 — 
Property, plant, and mine development53,716,997 40,099,120 
Accumulated depreciation(23,328)(43,766)
Property, plant, and mine development, net$53,693,669 $40,055,354 
Depletion of mine development and mining interests does not commence until the assets are placed in service. As of June 30, 2022, we have not recorded depletion expense for any of our mine development or mining interests assets.
The vast majority of our construction in process relates to capitalized costs associated with our Carolina Lithium Project.
Depreciation expense is presented in the following table and is included in “General and administrative expenses” in our consolidated statements of operations:
Three Months Ended
June 30,
Six Months Ended
June 30,
2022202120222021
Depreciation expense$6,146 $1,376 $11,208 $2,752