ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligations and Restricted Cash | ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH Asset Retirement Obligations The following table summarizes the Company’s asset retirement obligations (“AROs”):
(1) Acquired from ASM. (2) Includes a revision for a portion of the Kwale Project asset retirement obligation as reclamation neared completion and the timing of remaining monitoring and end-of-life expenditures was reassessed, resulting in an accelerated accretion charge of $3.10 million during the nine months ended September 30, 2026. (3) Cash paid to settle AROs for reclamation activities completed at the Kwale Project. The Company’s AROs are subject to legal and regulatory requirements. The Company periodically reviews its estimates for reclamation costs and the applicable regulatory authorities. Restricted Cash The Company has cash, cash equivalents and fixed income securities as collateral for various bonds posted in favor of the applicable state regulatory agencies in Arizona, Colorado, New Mexico, Utah, Wyoming, the U.S. Bureau of Land Management, the U.S. Forest Service and applicable national regulatory agency in Kenya, for estimated reclamation costs associated with the White Mesa Mill, Nichols Ranch and other mining properties. Restricted cash is expected to be released when the Company has either reclaimed an asset or transferred the asset to a party that has assumed the applicable bond requirements, or restructured the related surety and collateral arrangements. See Note 16 — Commitments and Contingencies for more information. The following table summarizes the Company’s restricted cash:
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