PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

3 Months Ended

Mar. 31, 2025

Property, Plant, and Equipment [Abstract]

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT

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

		March 31, 2025 (Restated)				December 31, 2024 (Restated)
At cost:
Mineral rights		$	2,686,739			$	2,682,882
Leasehold improvements			3,512,410				3,507,367
Plant and machinery			144,046,220				143,839,420
Furniture, fixtures and office equipment			1,437,153				1,435,090
Motor vehicles			124,394				124,215
Construction in process			10,170,243				10,155,642
Total			161,977,159				161,744,616
Less: Accumulated depreciation and amortization			(68,888,425	)			(65,569,186	)
Less: Impairment			(6,754,076	)			(6,744,380	)
Net book value		$	86,334,658			$	89,431,050

SCHEDULE OF ROLLFORWARD OF PROPERTY, PLANT AND EQUIPMENT

The rollforward of property, plant and equipment, net was as follows:

		December 31, 2024 (Restated)				Depreciation(a)				Foreign currency translation				March 31, 2025 (Restated)
At cost:
Mineral rights		$	2,682,882			$	-			$	3,857			$	2,686,739
Leasehold improvements			3,507,367				-				5,043				3,512,410
Plant and machinery			143,839,420				-				206,800				144,046,220
Furniture, fixtures and office equipment			1,435,090				-				2,063				1,437,153
Motor vehicles			124,215				-				179				124,394
Construction in process			10,155,642				-				14,601				10,170,243
Total			161,744,616				-				232,543				161,977,159
Less: Accumulated depreciation and amortization			(65,569,186	)			(3,226,127	)			(93,112	)			(68,888,425	)
Less: Impairment			(6,744,380	)			-				(9,696	)			(6,754,076	)
Net book value		$	89,431,050			$	(3,226,127	)		$	129,735			$	86,334,658

(a)

During the three-month period ended March 31, 2025, depreciation and amortization expense totaled $3,226,127 were recorded in direct labor and factory overheads incurred during plant shutdown, cost of revenue, and general & administrative expenses.

During the three-month period ended March 31, 2024, depreciation and amortization expense totaled $4,416,261 were recorded in direct labor and factory overheads incurred during plant shutdown, cost of revenue, and general & administrative expenses.