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                                                              EXHIBIT 10.10
                          PROMISSORY DEMAND NOTE


U.S. $150,000,000.00                                  December 22, 1997
                                                      Chicago, Illinois

FOR   VALUE  RECEIVED,  PHOSPHATE  RESOURCE  PARTNERS  LIMITED  PARTNERSHIP
(formerly known as Freeport-McMoRan Resource Partners, Limited Partnership,
the "Borrower") promises to pay to the order of IMC GLOBAL INC. ("IMC")  on
demand at the principal office of IMC at 2100 Sanders Road, Northbrook,  IL
60062-6146, or at such other place as the holder of this Note may from time
to  time  designate in writing, the principal sum of up to U.S. ONE HUNDRED
FIFTY  MILLION and NO/100 dollars (U.S. $150,000,000.00) or, if  less,  the
amount  advanced  by  IMC  to the Borrower under this  Note  together  with
interest on the principal amount of this Note from time to time outstanding
at the rates and in the manner specified hereinbelow.  All payments on this
Note  shall be made in lawful money of the United States and in immediately
available  and freely transferable funds at the place of payment and  shall
be  paid  no  later  than 2:00 p.m. (Chicago time) on the  date  when  due,
without set-off or deduction of any kind.

IMC  shall  record  on its books or records the principal  amount  of  each
advance  made,  all  payments of principal and interest and  the  principal
balances  from  time  to time outstanding.  IMC's books  and  records  with
respect  to  the  principal amount due and the amount of  interest  payable
thereon shall be deemed correct absent manifest error.

Interest shall be computed on the basis of a year of 360 (or 365 or 366, as
the case may be) days and actual days elapsed at a per annum rate equal  to
8.75%, or at such other rate as prescribed by statute.

Accrued  interest shall be payable quarterly on the last day  of  December,
March,  June  and September and at maturity, commencing with the  first  of
such  dates  to occur after the date hereof, or as the parties  hereto  may
otherwise agree (each such date, an "Interest Payment Date").  The Borrower
shall,  on demand, pay interest (calculated on the basis of a 360-day  year
for  the actual number of days elapsed) on any overdue principle and on any
other  amounts  overdue hereunder for each day from  the  date  of  payment
thereon was due to the date of actual payment, at a rate per annum equal to
the lesser of (i) the maximum permissible amount under applicable state and
federal  usury laws and (ii) 2% above the interest rate applicable to  such
amounts immediately prior to the date such overdue amount became due.

Should  any payment of principal or interest become due and payable on  any
day  other  than a business day (business day being any day not a Saturday,
Sunday  or legal holiday in Chicago, Illinois), the maturity thereof  shall
be extended to the next succeeding business day and interest shall continue
to  accrue at the applicable rate until such payment is made.  The Borrower
hereby expressly waives presentment, demand, protest or notice of any  kind
with respect to this Note.

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The Borrower represents and warrants that the obligation of the Borrower to
pay  principal, interest and all other sums payable under this  Note  ranks
(and  so  long  as any such obligation remains outstanding hereunder,  will
continue  to  rank)  at  least pari-passu in all respects  with  all  other
unsecured and unsubordinated loans, debts, guaranties and other obligations
incurred, created, assumed or guaranteed by the Borrower.

The indebtedness evidenced hereby may be prepaid in whole or in part at any
time and from time to time without premium or penalty.

The  failure  of  IMC  to exercise any of its rights,  powers  or  remedies
hereunder in any instance shall not constitute a waiver thereof in that  or
any  other  instance and no single or partial exercise by the Bank  of  any
right, power or remedy shall preclude other or further exercise thereof  or
any exercise of any other rights, powers or remedies.

This  Note shall be governed and construed in accordance with the  laws  of
the State of Illinois.

PHOSPHATE RESOURCE PARTNERS
LIMITED PARTNERSHIP
By:  IMC Global Inc., its administrative
     managing general partner


By:
   Name:  Eric T. Martinez
   Title: Assistant Treasurer
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                          Schedule to
         Promissory Demand Note Dated December 22, 1997

              PHOSPHATE RESOURCE PARTNERS LIMITED PARTNERSHIP
                                    to
                              IMC GLOBAL INC.



              Amount of                        Unpaid
      Amount  Principal  Interest   Maturity  Principal
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