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INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES
 12 Months Ended
Dec. 31, 2023
Inventory Disclosure [Abstract]  
Inventories, Including Long-Term Mill And Leach Stockpiles INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES
The components of inventories follow:
 December 31,
 20232022
Current inventories:
Raw materials (primarily concentrate)$469 $443 
Work-in-process221 221 
Finished goodsa
1,782 1,169 
Total product$2,472 $1,833 
Total materials and supplies, netb
$2,169 $1,964 
Mill stockpiles$179 $216 
Leach stockpiles1,240 1,167 
Total current mill and leach stockpiles$1,419 $1,383 
Long-term inventoriesc:
Mill stockpiles$251 $199 
Leach stockpiles1,085 1,053 
Total long-term mill and leach stockpilesc
$1,336 $1,252 
a.The increase in finished goods inventory at December 31, 2023, was primarily associated with the change in PT-FI’s commercial arrangement with PT Smelting (refer to Note 3) and the timing of shipments of anode slimes.
b.Materials and supplies inventory was net of obsolescence reserves totaling $41 million at December 31, 2023, and $39 million at December 31, 2022.
c.Estimated metals in stockpiles not expected to be recovered within the next 12 months.