PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment, Net [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 10 PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following:

	As of December 31,
	2012			2011
Cost:
Buildings	$	34,264,012		$	11,399,913
Office equipment		415,007			383,797
Motor vehicles		696,015			688,283
Machinery		21,545,892			15,597,187
Total cost		56,920,926			28,069,180
Less: Accumulated depreciation		(9,723,811	)		(7,503,305	)
Net book value	$	47,197,115		$	20,565,875

Depreciation expense for the years ended December 31, 2012, 2011 and 2010 was $3,264,226, $1,895,512 and $1,961,895, respectively.

During the year ended December 31, 2012, the Company completed construction of new production factories, warehouses and three new copper anode smelters and resulted a transfer from construction in progress to property, plant and equipment of approximately $27.9 million.