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FINANCIAL INSTRUMENTS (Unrealized gains losses) (Details) oz in Thousands, lb in Millions, $ in Millions |  | 12 Months Ended
--- | --- | ---
Dec. 31, 2018 lb oz $ / lb $ / lb $ / oz | Dec. 31, 2018 USD ($) $ / lb $ / lb $ / oz | Dec. 31, 2017 USD ($) | Dec. 31, 2016 USD ($)
Derivatives Not Designated as Hedging Instruments | Amounts recorded in Sales [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | $ |  | $ (317) | $ 515 | $ 266
Commodity Contract [Member] |  |  |  |
Unrealized gains (losses): |  |  |  |
Derivative financial instruments | $ |  | (20) | 4 | 16
Hedged item – firm sales commitments | $ |  | 20 | (4) | (16)
Realized gains (losses): |  |  |  |
Matured derivative financial instruments | $ |  | $ (22) | 30 | 1
Commodity Contract [Member] | Designated as Hedging Instrument [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 68 |  |  |
Derivative, Average Forward Price | $ / lb | 2.77 | 2.77 |  |
Crude Oil Options [Member] | Derivatives Not Designated as Hedging Instruments | Freeport-McMoRan Oil & Gas | Amounts recorded in Sales [Member] |  |  |  |
Realized gains (losses): |  |  |  |
Matured derivative financial instruments | $ |  | $ 0 | 0 | (35)
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 8 |  |  |
Derivative, Average Forward Price | $ / lb | 2.76 | 2.76 |  |
Copper Forward Contracts [Member] | Derivatives Not Designated as Hedging Instruments | Amounts recorded in Cost of Sales |  |  |  |
Realized gains (losses): |  |  |  |
Matured derivative financial instruments | $ |  | $ 18 | (15) | 5
Copper | Derivatives Not Designated as Hedging Instruments | Amounts recorded in Sales [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | $ |  | $ (310) | 489 | 262
Copper | Short [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 489 |  |  |
Derivative, Average Forward Price | $ / lb | 2.78 | 2.78 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | $ / lb | 2.70 | 2.70 |  |
Copper | Long [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 117 |  |  |
Derivative, Average Forward Price | $ / lb | 2.79 | 2.79 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | $ / lb | 2.71 | 2.71 |  |
Gold | Short [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | oz | 119 |  |  |
Derivative, Average Forward Price | $ / oz | 1,229.00 | 1,229.00 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | $ / oz | 1,286.00 | 1,286.00 |  |
Cobalt | Long [Member] | Embedded Derivative Financial Instruments [Member] | Derivatives Not Designated as Hedging Instruments |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, Nonmonetary Notional Amount, Mass | lb | 9 |  |  |
Derivative, Average Forward Price | $ / lb | 19.58 | 19.58 |  |
Realized gains (losses): |  |  |  |
Derivative Average Market Price | $ / lb | 19.25 | 19.25 |  |
gold and other [Member] | Derivatives Not Designated as Hedging Instruments | Amounts recorded in Sales [Member] |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | $ |  | $ (7) | $ 26 | $ 4

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