Exhibit 23.1


                      CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the incorporation by reference in this Amendment No. 1 to
the Registration Statement on Form S-3 of our report dated April 3, 2003
relating to the consolidated financial statements, which appears in Phelps Dodge
Corporation's Annual Report on Form 10-K for the year ended December 31, 2002.
We also consent to the incorporation by reference of our report dated April 3,
2003 relating to the financial statement schedule, which appears in such Annual
Report on Form 10-K.  We also consent to the reference to us under the heading
"Experts" in such Registration Statement.


/s/  PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Phoenix, Arizona
July 11, 2003