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FINANCIAL INSTRUMENTS (Unrealized gains losses) (Details) oz in Thousands, lb in Millions, $ in Millions |  | 12 Months Ended
--- | --- | ---
Dec. 31, 2017 lb oz $ / lb $ / lb $ / oz | Dec. 31, 2017 USD ($) $ / lb $ / lb $ / oz | Dec. 31, 2016 USD ($) | Dec. 31, 2015 USD ($)
Commodity Contract [Member] |  |  |  |
Unrealized gains (losses): |  |  |  |
Derivative financial instruments | $ |  | $ 4 | $ 16 | $ (3)
Hedged item – firm sales commitments | $ |  | (4) | (16) | 3
Realized gains (losses): |  |  |  |
Matured derivative financial instruments | $ |  | $ 30 | 1 | (34)
Commodity Contract [Member] | Designated as Hedging Instrument [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 41 |  |  |
Derivative, Average Forward Price | 3.02 | 3.02 |  |
Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Amounts recorded in Sales [Member] |  |  |  |
Realized gains (losses): |  |  |  |
Matured derivative financial instruments | $ |  | $ 515 | 266 | (406)
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 | $ |  | $ 0 | (35) | 87
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 4 |  |  |
Derivative, Average Forward Price | 3.11 | 3.11 |  |
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Amounts recorded in Cost of Sales |  |  |  |
Realized gains (losses): |  |  |  |
Matured derivative financial instruments | $ |  | $ (15) | $ 5 | $ (15)
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 | 642 |  |  |
Derivative, Average Forward Price | 3.06 | 3.06 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | 3.28 | 3.28 |  |
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 | 120 |  |  |
Derivative, Average Forward Price | 3.02 | 3.02 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | 3.28 | 3.28 |  |
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 | 318 |  |  |
Derivative, Average Forward Price | $ / oz | 1,269 | 1,269 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | $ / oz | 1,300 | 1,300 |  |
Cobalt | 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 | 6 |  |  |
Derivative, Average Forward Price | 22.97 | 22.97 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | 26.81 | 26.81 |  |

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