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INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY (AMAK) (Tables)
 12 Months Ended
Dec. 31, 2015
INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY ("AMAK") [Abstract]  
Summarized Results of Operation and Financial Position for AMAK
The summarized results of operation and financial position for AMAK are as follows:

Results of Operations

  
Years Ended December 31,
 
  
2015
  
2014
  
2013
 
  
(Thousands of Dollars)
 
Sales
 
$
50,744
  
$
63,300
  
$
104,990
 
Gross profit
  
(10,437
)
  
3,624
   
21,881
 
General, administrative and other expenses
  
8,796
   
10,487
   
12,360
 
Net income (loss)
 
$
(19,233
)
 
$
(6,863
)
 
$
9,521
 

Depreciation and amortization for the years ended December 31, 2015, 2014, and 2013 was $23.2 million, $23.7 million and $24.4 million, respectively.  Therefore, net income before depreciation and amortization was as follows:

  
Years Ended December 31,
 
  
2015
  
2014
  
2013
 
  
(Thousands of Dollars)
 
Net income before depreciation and amortization
 
$
4,016
  
$
16,845
  
$
33,878
 

Financial Position

  
December 31,
 
  
2015
  
2014
 
  
(Thousands of Dollars)
 
Current assets
 
$
26,078
  
$
14,893
 
Noncurrent assets
  
259,527
   
268,473
 
Total assets
 
$
285,605
  
$
283,366
 
         
Current liabilities
 
$
22,740
  
$
23,034
 
Long term liabilities
  
89,364
   
67,598
 
Shareholders' equity
  
173,501
   
192,734
 
Total liabilities and equity
 
$
285,605
  
$
283,366
 
Equity in Income or Loss of AMAK Reflected on Consolidated Statement of Operation
The equity in the income or loss of AMAK reflected on the consolidated statements of income for the years ended December 31, 2015, 2014, and 2013, is comprised of the following:

  
2015
  
2014
  
2013
 
AMAK Net Income (Loss)
 
$
(19,233
)
 
$
(6,863
)
 
$
9,521
 
Zakat tax applicable to Saudi Arabian shareholders only
  
303
   
-
   
-
 
AMAK Net Income (Loss) before Saudi Arabian shareholders' portion of Zakat
 
$
(18,930
)
 
$
(6,863
)
 
$
9,521
 
             
Company's share of earnings (loss) reported by AMAK (35.25%)
 
$
(6,672
)
 
$
(2,419
)
 
$
3,356
 
Amortization of difference between Company's investment in AMAK
            
  and Company's share of net assets of AMAK
  
1,347
   
1,347
   
1,347
 
Equity in earnings (loss) of AMAK
 
$
(5,325
)
 
$
(1,072
)
 
$
4,703