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                      [PRICEWATERHOUSECOOPERS LETTERHEAD]

                                   Exhibit 15



August 10, 2000


Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549


Commissioners:

We are aware that our report dated July 19, 2000 on our review of interim
financial information of Phelps Dodge Corporation (the "Corporation") for the
period ended June 30, 2000 and included in the Corporation's quarterly report on
Form 10-Q for the quarter then ended is incorporated by reference in its
Registration Statement and Post-Effective Amendment No. 1 and Form S-3 (Nos.
33-44380 and 333-36415) Post-Effective Amendment No. 2 on Form S-3 (No.
33-44380), Registration Statements on Form S-8 (Nos. 33-26442, 33-6141,
33-26443, 33-29144, 33-19012, 2-67317, 33-34363, 33-34362, 33-62648, 333-42231,
and 333-52175) and Post-Effective Amendment No. 4 on Form S-8 to the
Registration Statement on Form S-4 (No. 333-86061).


Very truly yours,



/S/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Phoenix, Arizona