INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES (Tables)

12 Months Ended

Dec. 31, 2018

The components of inventories follow:



	December 31,
	2018		2017
Current inventories:
Total materials and supplies, net^a	$	1,528	$	1,323

Mill stockpiles	$	282	$	360
Leach stockpiles	1,171		1,062
Total current mill and leach stockpiles	$	1,453	$	1,422

Raw materials (primarily concentrate)	$	260	$	265
Work-in-process	192		154
Finished goods	1,326		985
Total product inventories	$	1,778	$	1,404

Long-term inventories:
Mill stockpiles	$	265	$	300
Leach stockpiles	1,049		1,109
Total long-term inventories^b	$	1,314	$	1,409


a.	Materials and supplies inventory was net of obsolescence reserves totaling $24 million at December 31, 2018, and $29 million at December 31, 2017.


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