Annual report pursuant to Section 13 and 15(d)

AMAK Property and Equipment

v3.20.4
AMAK Property and Equipment
 12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Line Items]  
AMAK Property and Equipment PLANT, PIPELINE AND EQUIPMENT
Plant, pipeline and equipment include the following at December 31:
2020 2019
(thousands of dollars)
Platinum catalyst $ 1,580  $ 1,580 
Catalyst 4,325  4,095 
Land 5,428  5,428 
Plant, pipeline and equipment 270,149  258,651 
Construction in progress 6,422  5,052 
Total plant, pipeline and equipment 287,904  274,806 
Less accumulated depreciation (100,800) (85,887)
Net plant, pipeline and equipment $ 187,104  $ 188,919 
Plant, pipeline and equipment serve as collateral for our amended and restated loan agreement with a domestic bank (see Note 13).
Interest capitalized for construction for 2020, 2019 and 2018 was approximately nil, nil and $0.7 million, respectively.
Labor capitalized for construction for 2020, 2019 and 2018 was approximately $0.6 million, $0.0 million and $2.3 million, respectively.
Catalyst amortization relating to the platinum catalyst which is included in cost of sales was approximately $1.2 million, $1.3 million and $0.1 million for 2020, 2019 and 2018, respectively.
AMAK  
Property, Plant and Equipment [Line Items]  
AMAK Property and Equipment Property and Equipment
Property and equipment, net consisted of the following at:
September 30, December 31,
2020 2019
Buildings 191,974,662  191,838,962 
Leasehold improvements 4,051,062  1,838,317 
Heavy equipment 146,801,861  136,066,275 
Motor vehicles 22,753,563  22,467,300 
Civil works 16,288,221  16,288,221 
Tailings dam 23,900,160  23,900,160 
Plant and machinery 332,014,825  326,974,958 
Mining assets – rehabilitation costs 98,894,826  98,894,826 
Mining assets – underground development costs 409,899,633  299,224,519 
Construction in progress 3,356,625  4,789,313 
1,249,935,438  1,122,282,851 
Less accumulated depreciation, depletion and amortization (566,920,733) (511,648,419)
683,014,705  610,634,432 
During 2020 and 2019, additions to Mining Assets - underground development costs relates to capital investments in the Guyan mining area.
Property and equipment serve as collateral for the SIDF loan agreement (see Note 10).
Depreciation, depletion and amortization expense related to property and equipment was approximately, SR55,000,000, SR79,000,000 and SR88,000,000 for the nine months ended September 30, 2020 and the years ended December 31, 2019 and 2018, respectively.