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INCOME TAXES (Reconciliation of U.S. federal statutory rate to effective tax rate) (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Amount        
U.S. federal statutory tax rate   $ (377) $ (64) $ (817)
Valuation allowancea   (210) (149) 129
PT-FI historical tax disputes   (8) (145) 0
Percentage depletion   104 118 141
Effect of foreign rates different than the U.S. federal statutory rate   (109) (64) (494)
Withholding and other impacts on foreign earnings   (193) (55) (232)
Adjustment to deferred taxes   0 (49) 0
Non-deductible permanent differences   0 (47) (25)
Uncertain tax positions   (15) (47) (7)
U.S. tax reform   0 29 94
Foreign tax credit limitation   28 (16) (195)
State income taxes   (2) 16 7
Cerro Verde historical tax disputese   (39) 2 (55)
Change in PT-FI tax rates $ 504 0 0  
Timok exploration project sale   53 (15) 0
Effective Income Tax Rate Reconciliation, Disposition of Asset, Amount   $ 135 0 0
Effective Income Tax Rate Reconciliation, Disposition of Asset, Percent   (8.00%)    
Other items, net   $ (41) (24) (41)
Provision for income taxes   $ (944) $ (510) $ (991)
Percent        
U.S. federal statutory tax rate   (21.00%) (21.00%) (21.00%)
Valuation allowancea   (12.00%) (49.00%) 3.00%
PT-FI historical tax disputes   0.00% (47.00%) 0.00%
Percentage depletion   6.00% 39.00% 4.00%
Effect of foreign rates different than the U.S. federal statutory rate   (6.00%) (21.00%) (13.00%)
Withholding and other impacts on foreign earnings   (11.00%) (18.00%) (6.00%)
Adjustment to deferred taxes     (16.00%)  
Non-deductible permanent differences     15.00% 1.00%
Uncertain tax positions   (1.00%) (15.00%)  
U.S. tax reform     0.09 0.02
Foreign tax credit limitation   2.00% (5.00%) (5.00%)
State income taxes     6.00% 1.00%
Cerro Verde historical tax disputese   (2.00%) 1.00% (1.00%)
Change in PT-FI tax rates       13.00%
Timok exploration project sale   3.00% (5.00%)  
Other items, net   (3.00%) (9.00%) (1.00%)
Provision for income taxes   (53.00%) (166.00%) (25.00%)
Valuation allowances   $ 4,732 $ 4,576