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LONG-TERM DEBT
6 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
We have entered into long-term debt agreements to purchase surface properties and the associated mineral rights from landowners that form part of “Mining interests” on our consolidated balance sheets. These purchases were fully or partly financed by the seller of each of the surface properties. Our long-term debt is payable in monthly installments ranging from approximately $2,000 to $20,000 per month on terms ranging from 2 to 5 years. Payments include an implied or stated interest rate of 10% and are secured by the respective real property.
The outstanding balances of our long-term debt agreements were as follows:
December 31,
2021
June 30,
2021
June 30,
2020
Current portion of long-term debt$762,189 $1,085,142 $577,576 
Long-term debt, net of current portion914,147 1,226,404 1,740,042 
Total long-term debt$1,676,336 $2,311,546 $2,317,618 

We paid interest on our long-term debt as follows:
Six Months Ended
December 31, 2021
Years Ended June 30,
202120202019
Interest paid$112,869 $271,264 $107,569 $— 
Scheduled payments for the principal portion of our outstanding long-term debt are as follows:
December 31,
2021
2022$762,189 
2023610,809 
2024288,822 
202514,516 
Total$1,676,336