4. Mineral Property, Plant and Equipment

Details of the Mineral Property, Plant and Equipment are as follows:

Net Book Value		Mineral Property			Plant and Equipment			Total
Balance - December 31, 2021	$	422,077		$	644		$	422,721
Additions		8,318			-			8,318
Changes to environmental rehabilitation provision (Note 6)		11,206			-			11,206
Depreciation		-			(192	)		(192	)
Balance - December 31, 2022		441,601			452			442,053
Gross carrying value		488,769			2,166			490,935
Accumulated depreciation and impairment	$	(47,168	)	$	(1,714	)	$	(48,882	)

Net Book Value		Mineral Property			Plant and Equipment			Total
Balance - December 31, 2020	$	414,709		$	850		$	415,559
Additions		7,038			-			7,038
Changes to environmental rehabilitation provision (Note 6)		330			-			330
Depreciation		-			(206	)		(206	)
Balance - December 31, 2021		422,077			644			422,721
Gross carrying value		469,245			2,166			471,411
Accumulated depreciation and impairment	$	(47,168	)	$	(1,522	)	$	(48,690	)

Mineral Property		December 31, 2022		December 31, 2021
Mineral property acquisition and interest	$	79,625	$	79,625
Mine plan and development		54,356		53,085
Environmental		152,894		149,275
Consulting and wages		66,906		64,299
Reclamation and remediation (Note 6)		56,120		44,914
Site activities		31,622		30,801
Mine equipment		78		78
Total	$	441,601	$	422,077

In November 2005, the Company acquired from Cliffs Erie LLC, a subsidiary of Cleveland Cliffs Inc. (together "Cliffs") large parts of a processing facility located approximately six miles from the ore body. In December 2006, the Company acquired from Cliffs additional property and associated rights sufficient to provide it with a railroad connection linking the mine development site and the processing facility. The transaction also included a railcar fleet, locomotive fueling and maintenance facilities, water rights and pipelines, administrative offices on site and an additional 6,000 acres of land to the east and west of the existing tailings storage facilities. The consideration paid for the processing facility and associated infrastructure was $18.9 million in cash and $13.953 million in shares. As part of the consideration, the Company indemnified Cliffs for reclamation and remediation obligations of the acquired property (see Note 6).

During 2022, the Company capitalized development costs of $8.318 million (2021 - $7.038 million) necessary to bring the NorthMet Project to commercial production. No borrowing costs were capitalized during 2022. As NorthMet Project assets are not in use or capable of operating in a manner intended by management, no depreciation or amortization of these assets has been recorded to December 31, 2022.

The Company regularly assesses whether there are indicators of asset impairment. No indicators of asset impairment were identified during 2022.