Quarterly report pursuant to Section 13 or 15(d)

East Tennessee Materials and Energy Corporation (''M&EC'')

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East Tennessee Materials and Energy Corporation (''M&EC'')
3 Months Ended
Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
East Tennessee Materials and Energy Corporation ("M&EC")

9. East Tennessee Materials and Energy Corporation (“M&EC”)

 

The Company has completed the physical on-site closure and decommissioning activities at its M&EC facility (in closure status) in accordance with M&EC’s license and permit requirements, with final closure of the facility subject to completion of final surveys and regulatory approvals.

 

At March 31, 2019, total accrued closure liabilities for our M&EC subsidiary totaled approximately $281,000 which are recorded as current liabilities. The Company recorded an additional $165,000 in closure costs and current closure liabilities due to finalization of closure requirements. The following reflects changes to the closure liabilities for the M&EC facility from year end 2018:

 

Amounts in thousands      
Balance as of December 31, 2018   $ 1,142  
Adjustment to closure liability     165  
Spending     (1,026 )
Balance as of March 31, 2019   $ 281