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Note 4. Property, Machinery and Mining Assets, Net

12 Months Ended

Dec. 31, 2013

Note 4. Property, Machinery and Mining Assets, Net

NOTE 4. PROPERTY, MACHINERY AND MINING ASSETS, NET

A summary of property and equipment and the estimated lives used in the computation of depreciation and amortization is as follows:

			As of
	Estimated lives (years)		December 31, 2013		December 31, 2012

Buildings	40	$	13,850,342	$	13,431,167
Right of use land	50		1,852,264		1,796,206

Machinery and equipment	10		4,054,047		3,905,752
Office equipment	5		387,360		375,162
Vehicle	5-10		419,689		580,354
Mining	5-40		598,903		580,778
Construction in progress			766,051		728,282
			21,928,656		21,397,701
Less: Accumulated depreciation			(5,610,611)		(4,675,551)
Total		$	16,318,045	$	16,722,150

Depreciation and amortization expenses for the years ended December 31, 2013 and 2012 were $876,150 and $918,307 respectively.

	Estimated lives (years)
Buildings	40
Right to use land	50
Machinery and equipment	10
Office equipment	5
Vehicle	5-10
Mining	5-40
Leasehold improvement	5
Construction in progress
Sub-total
Less: Accumulated depreciation		)
Total

- 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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