Inventories, Including Long-Term Mill and Leach Stockpiles (Unaudited) (Tables)

6 Months Ended

Jun. 30, 2015

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

Components of inventories

The components of inventories follow (in millions):

	June 30, 2015		December 31, 2014
Current inventories:
Mill stockpiles	$	130	$	86
Leach stockpiles	1,803		1,828
Total current mill and leach stockpiles	$	1,933	$	1,914
Total materials and supplies, neta	$	2,014	$	1,886
Raw materials (primarily concentrates)	$	306	$	288
Work-in-process	155		174
Finished goods	1,023		1,099
Total product inventories	$	1,484	$	1,561
Long-term inventories:
Mill stockpiles	$	361	$	360
Leach stockpiles	1,916		1,819
Total long-term mill and leach stockpilesb	$	2,277	$	2,179

a. Materials and supplies inventory was net of obsolescence reserves totaling $25 million at June 30, 2015, and $20 million at December 31, 2014.

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