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FINANCIAL INSTRUMENTS (Unrealized gains losses) (Details) oz in Thousands, lb in Millions, $ in Millions |  | 12 Months Ended
--- | --- | ---
Dec. 31, 2016 lb oz $ / lb $ / lb $ / oz | Dec. 31, 2016 USD ($) $ / lb $ / lb $ / oz | Dec. 31, 2015 USD ($) | Dec. 31, 2014 USD ($)
Commodity Contract [Member] |  |  |  |
Unrealized gains (losses): |  |  |  |
Derivative financial instruments |  | $ 16 | $ (3) | $ (12)
Hedged item – firm sales commitments |  | (16) | 3 | 12
Realized gains (losses): |  |  |  |
Matured derivative financial instruments |  | $ 1 | (34) | (9)
Commodity Contract [Member] | Designated as Hedging Instrument [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 42 |  |  |
Derivative, Average Forward Price | $ / lb | 2.35 | 2.35 |  |
Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Amounts recorded in Sales [Member] |  |  |  |
Realized gains (losses): |  |  |  |
Matured derivative financial instruments |  | $ 266 | (406) | (280)
Crude Oil Options [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Freeport-McMoRan Oil & Gas | Amounts recorded in Sales [Member] |  |  |  |
Realized gains (losses): |  |  |  |
Matured derivative financial instruments |  | (35) | 87 | 513
Natural Gas Swaps [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Freeport-McMoRan Oil & Gas | Amounts recorded in Sales [Member] |  |  |  |
Realized gains (losses): |  |  |  |
Matured derivative financial instruments |  | $ 0 | 0 | (8)
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 3 |  |  |
Derivative, Average Forward Price | $ / lb | 2.57 | 2.57 |  |
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Amounts recorded in Cost of Sales |  |  |  |
Realized gains (losses): |  |  |  |
Matured derivative financial instruments |  | $ 5 | $ (15) | $ (4)
Copper | Short [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 698 |  |  |
Derivative, Average Forward Price | $ / lb | 2.36 | 2.36 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | $ / lb | 2.51 | 2.51 |  |
Copper | Long [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 140 |  |  |
Derivative, Average Forward Price | $ / lb | 2.37 | 2.37 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | $ / lb | 2.51 | 2.51 |  |
Gold | Short [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | oz | 207 |  |  |
Derivative, Average Forward Price | $ / oz | 1,195 | 1,195 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | $ / oz | 1,161 | 1,161 |  |

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