Exhibit 10.24

                         AGREEMENT FOR CONSULTING SERVICES


                 THIS AGREEMENT, entered into effeective as of the 1st
            day of January, 1991, between Freeport-McMooRan Inc. ("FMI"),
            whose mailing address is P.O. Box 61520, New Orleans,
            Louisiana  70161, and B. M. Rankin, Jr. ("Consultant"),
            whose mailing address is 4500 Roland Avenue, Unit 604,
            Dallas, Texas  75219.

                                W I T N E S S E T H:


                 1.   Consultant agrees to perform for FMI the services
            described in Section A of the annexed Schedule.  Such
            services shall be performed during the period mentioned in
            Section B of this Schedule and at times and locations
            specified in the Schedule.

                 2.   For satisfactory performance of the services
            described herein, FMI shall pay to Consultant the
            compensation provided for in Section C of the Schedule.

                 3.   In performing services under this Agreement,
            Consultant shall operate as and have the status of an
            independent contractor and shall not act as or be an agent
            or employee of FMI.

                      All services performed by Consultant hereunder
            shall meet the approval of FMI, but the detailed manner and
            method of performing the services shall be under the control
            of Consultant, FMI being interested only in the results
            obtained.

                      Nothing in this agreement shall affect in any way
            any of Consultant's other agreements or arrangements with
            FMI.

                 4.   Consultant agrees that he will perform the
            services with that standard of care, skill, and diligence
            normally provided in the performance of such services in
            respect to work similar to that hereunder.  Consultant is
            hereby given notice that FMI will be relying on the accuracy, 
            competence accuracy, competence and completeness of Consultant's
            services hereunder in utilizing the results of such
            services.

                 5.   Consultant agrees that he will not divulge to
            third parties, without the written consent of FMI, any
            information obtained from or through FMI in connection with
            the performance of this Agreement unless (a) the information
            is known to Consultant prior to obtaining same from FMI, (b)
            the information is, at the time of disclosure by Consultant,
            then in the public domain, or  (c) the information is
            obtained by Consultant from a third party who did not
            receive same, directly or indirectly, from FMI.  Consultant
            further agrees that he will not, without the prior written
            consent of FMI, disclose to any third party any information
            developed or obtained by Consultant in the performance of
            this Agreement, except to the extent that said information
            falls within one of the categories in (a), (b), (c) above.

                 6.   Unless otherwise agreed by FMI in writing,
            Consultant shall personally perform the services specified
            herein.  This contract shall not be assigned by Consultant,
            whether by operation of law or otherwise, without the
            express prior written consent of FMI.

                 7.   Consultant agrees to immediately notify FMI in
            writing of any existing or proposed association, contract or
            other business relationship with any individual, corporation
            or other organization which directly or indirectly has
            interests adverse to FMI.

                 8.   The validity, operation and performance of this
                 Agreement shall be governed and controlled by the law of the
            State of Louisiana, and its terms shall be construed and
            interpreted in accordance with said law.


            WITNESSES:                              FREEPORT-McMoRan INC


            /S/  Ursula L. Joseph                 By:  /S/ Thomas J. Egan

                                                         Thomas J. Egan
            /S/  Elizabeth J. Mancuso                    Vice President
                                                         & CEO


                                               CONSULTANT


            /S/ Shirley Raines                By:  /S/ B. M. Rankin, Jr.

                                                     B. M. Rankin, Jr.
            /S/ Sandra McGuire




                                      SCHEDULE



            SECTION A      -    Scope of Work


                      Consultant is to provide business consulting
            services including, without limitation, consulting services
            relating to finance, accounting and business development.

            SECTION B      -    Period of Performance


                 This Agreement shall be effective from January 1, 1991
            and shall continue for one year.  Said Agreement shall be
            automatically continued for like terms unless and until
            cancelled by either party upon thirty (30) days' written
            notice prior to the end of any contract term.

            SECTION C      -    Compensation


                 1.   A fee of $14,000.00 per calendar quarter shall be
            paid to Consultant for performance of the services described
            in Section A above during the contract term, to be paid
            quarterly in arrears.

                 2.   Reasonable direct expenses, such as hotel and
            other lodging accommodations, transportation and travel
            associated with Section A above, will be reimbursable when
            authorized by FMI and supported by appropriate receipts.