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                                                                    Exhibit 23.1

                     [PricewaterhouseCoopers LLP letterhead]


                       CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the incorporation by reference in this Registration
Statement on Form S-3 of our reports dated January 26, 2000 relating to the
financial statements and financial statement schedules, which appear in Phelps
Dodge Corporation's Annual Report on Form 10-K for the year ended December 31,
1999. We also consent to the reference to us under the heading "Experts" in such
Registration Statement.


/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Phoenix, Arizona
August 16, 2000