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Inventories, Including Long-Term Mill and Leach Stockpiles - Schedule of Inventory (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Current inventories: |  |
Raw materials (primarily copper concentrate) | $ 413 | $ 469
Work-in-process | 252 | 221
Finished goods | 1,691 | 1,782
Product | 2,356 | 2,472
Materials and supplies, net | 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 | 1,313 | 1,336
Inventory obsolescence reserves | $ 48 | $ 41

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