Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2014

7. Property, Plant and Equipment, Net

The components of property, plant and equipment are as follows:

	June 30,			December 31,
	2014			2013
	(in thousands)
Mineral properties	$	22,397		$	22,397
Exploration properties	2,993			2,993
Royalty properties	200			200
Buildings	2,357			2,349
Mining equipment and machinery	19,416			19,441
Other furniture and equipment	841			1,054
Asset retirement cost	2,002			2,087
	50,206			50,521
Less: Accumulated depreciation and amortization	(19,567		)	(18,146		)
	30,639			32,375

The asset retirement cost (“ARC”) is all related to the Company’s Velardeña Properties. The decrease in the ARC during the period is related to an adjustment to the asset retirement obligation (“ARO”) (see Note 9).

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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