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

3 Months Ended

Mar. 31, 2017

Inventory Disclosure [Abstract]

Inventories, Including Long-Term Mill and Leach Stockpiles

INVENTORIES, INCLUDING LONG-TERM MILL AND LEACH STOCKPILES

The components of inventories follow (in millions):

	March 31, 2017		December 31, 2016
Current inventories:
Total materials and supplies, neta	$	1,275	$	1,306
Mill stockpiles	$	301	$	259
Leach stockpiles	1,054		1,079
Total current mill and leach stockpiles	$	1,355	$	1,338
Raw materials (primarily concentrate)	$	194	$	255
Work-in-process	177		114
Finished goods	762		629
Total product inventories	$	1,133	$	998
Long-term inventories:
Mill stockpiles	$	488	$	487
Leach stockpiles	1,137		1,146
Total long-term mill and leach stockpilesb	$	1,625	$	1,633

a. Materials and supplies inventory was net of obsolescence reserves totaling $30 million at March 31, 2017, and $29 million at December 31, 2016.

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