INVENTORIES:

3 Months Ended

Mar. 31, 2012

INVENTORIES:

INVENTORIES:

NOTE 3 - INVENTORIES:

Inventories were as follows:

(in millions)	March 31,2012		December 31,2011
Inventory, current:
Metals at lower of average cost or market:
Finished goods	$	76.5	$	93.3
Work-in-process	258.5		296.1
Supplies at average cost	274.1		262.5
Total current inventory	$	609.1	$	651.9
Inventory, long-term:
Leach stockpiles	$	154.0	$	123.0

In the first quarter 2012 and 2011 total leaching costs capitalized as long-term inventory of leachable material amounted to $52.7 million and $25.2 million, respectively. Long-term leaching inventories recognized as cost of sales amounted to $18.4 million and $10.6 million for the first quarter 2012 and 2011, respectively.