PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment and Depreciation and Depletion Expense

The Company’s property, plant and equipment consisted of the following:

	March 31, 2023		December 31, 2022
(in thousands)
Land and land improvements	$	16,112	$	16,102
Buildings and building improvements	15,856		15,111
Machinery and equipment	275,541		186,388
Assets under construction	323,444		338,482
Mineral rights	438,395		438,395
Property, plant and equipment, gross	1,069,348		994,478
Less: Accumulated depreciation and depletion	(67,108)		(58,735)
Property, plant and equipment, net	$	1,002,240	$	935,743

The Company’s depreciation and depletion expense were as follows:

	For the three months ended March 31,
(in thousands)	2023		2022
Depreciation expense	$	5,245	$	2,101
Depletion expense	$	2,800	$	3,069