INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES

12 Months Ended

Dec. 31, 2013

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,
	2013			2012
Current inventories:
Raw materials (primarily concentrates)	$	238		$	237
Work-in-processa	199			252
Finished goodsb	1,146			911
Total product inventories	$	1,583		$	1,400
Mill stockpiles	$	91		$	104
Leach stockpiles	1,614		c	1,568
Total current mill and leach stockpiles	$	1,705		$	1,672
Total materials and supplies, netd	$	1,730		$	1,504
Long-term inventories:
Mill stockpiles	$	698		$	615
Leach stockpiles	1,688			1,340
Total long-term mill and leach stockpilese	$	2,386		$	1,955

a. FCX's mining operations also have work-in-process inventories that are included in mill and leach stockpiles.

b. Primarily included molybdenum concentrates; copper concentrates, anodes, cathodes and rod; and various cobalt products.

c. Amount is net of a $76 million charge associated with updated mine plans at Morenci that resulted in a loss in recoverable copper in leach stockpiles.

d. Materials and supplies inventory was net of obsolescence reserves totaling $24 million at December 31, 2013, and $27 million at December 31, 2012.

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