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Inventories, Including Long-Term Mill and Leach Stockpiles | 3 Months Ended
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Mar. 31, 2024
Inventory Disclosure [Abstract] |
Inventories, Including Long-Term Mill and Leach Stockpiles | INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES The components of inventories follow:
| March 31, 2024 |  | December 31, 2023 |
Current inventories: |  |  |  |
Raw materials (primarily copper concentrate) | $ | 413 |  |  | $ | 469 |  |
Work-in-process | 252 |  |  | 221 |  |
Finished goods | 1,691 |  |  | 1,782 |  |
Total product | $ | 2,356 |  |  | $ | 2,472 |  |
Total materials and supplies, net a | $ | 2,202 |  |  | $ | 2,169 |  |
Mill stockpiles | $ | 181 |  |  | $ | 179 |  |
Leach stockpiles | 1,238 |  |  | 1,240 |  |
Total current mill and leach stockpiles | $ | 1,419 |  |  | $ | 1,419 |  |
Long-term inventories: |  |  |  |
Mill stockpiles | $ | 222 |  |  | $ | 251 |  |
Leach stockpiles | 1,091 |  |  | 1,085 |  |
Total long-term mill and leach stockpiles b | $ | 1,313 |  |  | $ | 1,336 |  |
a.Materials and supplies inventory was net of obsolescence reserves totaling $48 million at March 31, 2024, and $41 million at December 31, 2023. b.Estimated metals in stockpiles not expected to be recovered within the next 12 months.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
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