INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES

12 Months Ended

Dec. 31, 2012

Inventories, Including Long Term Mill and Leach Stockpiles [Abstract]

Inventories, Including Long-Term Mill And Leach Stockpiles

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES

The components of inventories, excluding mill and leach stockpiles, follow:

	December 31,
	2012		2011
Mining operations:a
Raw materials	$	2	$	1
Finished goodsb	904		769
Atlantic Copper:
Raw materials (concentrates)	235		260
Work-in-process	252		187
Finished goods	7		9
Total product inventories	$	1,400	$	1,226
Total materials and supplies, netc	$	1,504	$	1,354

a. FCX's mining operations also have work-in-process inventories (i.e., mill and leach stockpiles), which are summarized below.

b. Primarily included molybdenum concentrates and copper concentrates, anodes, cathodes and rod.

c. Materials and supplies inventory was net of obsolescence reserves totaling $27 million at December 31, 2012, and $26 million at December 31, 2011.

A summary of mill and leach stockpiles follows:

	December 31, 2012
	North America		South America		Indonesia		Africa		Total
Current:
Mill stockpiles	$	53	$	23	$	28	$	—	$	104
Leach stockpiles	1,208		271		—		89		1,568
Total current mill and leach stockpiles	$	1,261	$	294	$	28	$	89	$	1,672
Long-term:a
Mill stockpiles	$	5	$	610	$	—	$	—	$	615
Leach stockpiles	741		363		—		236		1,340
Total long-term mill and leach stockpiles	$	746	$	973	$	—	$	236	$	1,955

	December 31, 2011
	North America		South America		Indonesia		Africa		Total
Current:
Mill stockpiles	$	40	$	11	$	18	$	—	$	69
Leach stockpiles	963		216		—		41		1,220
Total current mill and leach stockpiles	$	1,003	$	227	$	18	$	41	$	1,289
Long-term:a
Mill stockpiles	$	—	$	535	$	—	$	—	$	535
Leach stockpiles	718		284		—		149		1,151
Total long-term mill and leach stockpiles	$	718	$	819	$	—	$	149	$	1,686

a. Estimated metals in stockpiles not expected to be recovered within the next 12 months.