Exhibit 18.1
March 25, 1994

Freeport-McMoRan Inc.
1615 Poydras Street
New Orleans, LA  70112

RE:   FORM 10-K REPORT FOR THE YEAR ENDED DECEMBER 31, 1993

This  letter  is written  to  meet  the  requirements  of Regulation  S-K
calling  for  a  letter  from  a   registrant's  independent  accountants
whenever there has been a change in accounting principle or practice.

We have been informed that, as of January 1, 1993, Freeport-McMoRan  Inc.
(FTX) changed its methods of accounting for the following items:

1.  TURNAROUNDS - the accounting  for maintenance turnarounds was changed
    from the deferral method  to the direct expense method.   Previously,
    FTX  deferred  costs  related   to  periodic  scheduled   maintenance
    (turnarounds)  when incurred  and amortized  them on  a straight-line
    basis,  generally over  six  months  to  two  years  until  the  next
    scheduled  turnaround.   According  to the  management  of FTX,  this
    change was made  to conform FTX's policy with that  which is followed
    by  IMC-Agrico Company, a joint venture to which substantially all of
    FTX's phosphate fertilizer production assets were contributed on July
    1, 1993.

2.  DEFERRED CHARGES - the accounting for deferred charges was changed to
    provide for deferral of only those  costs that directly relate to the
    acquisition,  construction  and  development  of assets  and  to  the
    issuance of debt and related  instruments.  Previously, certain other
    costs  which benefitted  future periods  were deferred  and amortized
    over the  period  benefitted.    According to  FTX  management,  they
    believe  this change provides  a better measure of operating results.
    In  addition, the administrative costs  of accounting for assets will
    be reduced by not deferring any relatively insignificant expenditures
    that do not have a material effect on measuring periodic net income.

3.  MANAGEMENT INFORMATION SYSTEMS (MIS)  COSTS - Costs of MIS  equipment
    and software that have  a material impact on periodic  measurement of
    net  income  are  capitalized  and  amortized  over  their  estimated
    productive lives.  Other MIS costs, including equipment and purchased
    software  that  involve  relatively  immaterial   amounts  (currently
    individual expenditures  of less  than $500,000) and  short estimated
    productive lives  (currently less  than three  years) are  charged to
    expense  when  incurred.    Previously,  most  expenditures  for  MIS
    equipment and  purchased software  were capitalized.   The accounting
    for MIS  costs was changed to  recognize the rapid rate  of change in
    MIS,  which  results  in  short productive  lives  of  equipment  and
    software and a need  for continuing investments.  Generally  within a
    two-to-three year  period, if such  hardware has  not been  replaced,
    significant  upgrades will  have been  required.   Within  two years,
    maintenance  costs  on existing  equipment  often  equals or  exceeds
    replacement cost.   Software is  subject to constant  modification to
    meet the needs  of the changing hardware environment, as  well as the
    changing  business environment.    Reasonable  business judgement  is
    required  in   determining  appropriate  application   of  accounting
    principles,   including   judgement  regarding   the  cost   and  the
    materiality of the impact of accounting precision.

A complete  coordinated set  of  financial  and reporting  standards  for
determining the preferability  of accounting principles  among acceptable
alternative  principles  has  not  been  established  by  the  accounting
profession for the  items referred  to above.   Thus, we  cannot make  an
objective determination  of whether the  changes in accounting  described
in the preceding paragraph  are to preferable methods.  However,  we have
reviewed  the pertinent  factors, including  those  related to  financial
reporting,  in these  particular  cases on  a  subjective basis,  and our
opinion stated below is based on our determination made in this manner.

We are of the opinion that FTX's changes in methods  of accounting are to
acceptable  alternative methods  of  accounting,  which, based  upon  the
reasons stated above  for the respective changes (including the costs and
benefits of  alternative principles  and the  related materiality  of the
application thereof)  and our discussions with  you, are  also preferable
under  the circumstances in these particular cases.   In arriving at this
opinion, we have relied on  the business judgement and  business planning
of your management.

                                          Very truly yours,



                                          Arthur Andersen & Co.

New Orleans, Louisiana
January 25, 1994