Annual report pursuant to Section 13 and 15(d)

Non-Controlling Interest

v3.3.1.900
Non-Controlling Interest
12 Months Ended
Dec. 31, 2015
Noncontrolling Interest [Abstract]  
Non-controlling Interest
NON-CONTROLLING INTEREST
The Company owns a 60% controlling interest in a joint venture formed with Swire Resources, Limited ("Swire") to support the development of the Company's business in China. The joint venture was in a formation and start-up phase during 2013 and began operations on January 1, 2014. In 2013, Swire made an initial capital contribution of $8,000,000 in cash, and the Company made an initial capital contribution of $12,000,000 in cash. The accounts and operations of the joint venture are included in the Consolidated Financial Statements for the years ended December 31, 2015, 2014 and 2013. Swire's share of the net income (loss) of the joint venture is included in net income (loss) attributable to non-controlling interest in the Consolidated Statements of Operations for the years ended December 31, 2015, 2014 and 2013. The non-controlling equity interest in the joint venture is presented separately in the Consolidated Balance Sheets and Consolidated Statements of Equity for the years ended December 31, 2015 and 2014.