##### 



PHELPS DODGE CORPORATION AND CONSOLIDATED SUBSIDIARIES
 EXHIBIT 21
 LIST OF SUBSIDIARIES AND INVESTMENTS AS OF DECEMBER 31, 2006
 
 Registrant'sPercent ofState/Country of
    
    VotingIncorporation
    
    PowerPhelps Dodge Corporation
    
    NY, USA
    
    
    100.0
    %Ajo Improvement Company
    
    AZ, USA
    
    
    100.0
    %Alambres y Cables de Panama, S.A.
    
    Panama
    
    
    78.1
    %Alambres y Cables Venezolanos, C.A.
    
    Venezuela
    
    
    100.0
    %Alcave Trading, C.A.
    
    Venezuela
    
    
    100.0
    %Cobre Colada Continua C.C.C., C.A.
    
    Venezuela
    
    
    50.0
    %Annavas Development Co., Ltd.
    
    DE, USA
    
    
    100.0
    %Arizona Community Investment Corporation
    
    AZ, USA
    
    
    100.0
    %Bisbee Queen Mining Company
    
    DE, USA
    
    
    65.9
    %Cables Electricos Ecuatorianos, C.A.
    
    Ecuador
    
    
    67.1
    %Cahosa, S.A.
    
    Panama
    
    
    78.1
    %Capital Gestão de Negócios Ltd.
    
    Brazil
    
    
    100.0
    %Cates Douglas Corporation
    
    DE, USA
    
    
    100.0
    %Chino Acquisition Inc.
    
    DE, USA
    
    
    100.0
    %Cobre Cerrillos Sociedad Anonima, S.A. (a)
    
    Chile
    
    
    65.9
    %Cocesa Ingenieria y Construccion, S.A.
    
    Chile
    
    
    100.0
    %Cocetel Ingenieria y Construccion, C.A.
    
    Venezuela
    
    
    100.0
    %CONDUCEN, S.A.
    
    Costa Rica
    
    
    73.4
    %Conductores Electricos de Centro America, S.A.
    
    El Salvador
    
    
    72.4
    %Cyprus Amax Minerals Company
    
    DE, USA
    
    
    100.0
    %Amax Arizona, Inc.
    
    NV, USA
    
    
    100.0
    %Amax de Chile, Inc.
    
    DE, USA
    
    
    100.0
    %Amax Energy Inc.
    
    DE, USA
    
    
    100.0
    %Amax Zinc (Newfoundland) Limited
    
    DE, USA
    
    
    100.0
    %Amax Exploration (Ireland), Inc.
    
    DE, USA
    
    
    100.0
    %Amax Exploration, Inc.
    
    DE, USA
    
    
    100.0
    %Amax Nickel Overseas Ventures, Inc.
    
    DE, USA
    
    
    100.0
    %Amax Realty Development, Inc.
    
    DE, USA
    
    
    100.0
    %Amax Research & Development, Inc.
    
    DE, USA
    
    
    100.0
    %Amax Specialty Coppers Corporation
    
    DE, USA
    
    
    100.0
    %Amax Specialty Metals (Driver), Inc.
    
    DE, USA
    
    
    100.0
    %American Metal Climax, Inc.
    
    DE, USA
    
    
    100.0
    %Ametalco, Inc.
    
    NY, USA
    
    
    100.0
    %Ametalco Limited
    
    United Kingdom
    
    
    100.0
    %Climax Molybdenum U.K. Limited
    
    United Kingdom
    
    
    100.0
    %Blackwell Zinc Company, Inc.
    
    NY, USA
    
    
    100.0
    %Climax Canada Ltd.
    
    DE, USA
    
    
    100.0
    %Climax Engineered Materials, LLC
    
    CO, USA
    
    
    100.0
    %Kinetics Climax, Inc.
    
    DE, USA
    
    
    100.0
    %Cyprus Amax Chile Holdings, Inc.
    
    DE, USA
    
    
    100.0
    %Minera
Cyprus Amax Chile Limitada (b)
    
    Chile
    
    
    67.0
    %Minera
Cyprus Chile Limitada (c)
    
    Chile
    
    
    90.3
    %Cyprus Metals Company
    
    DE, USA
    
    
    100.0
    %Cyprus Climax Metals Company
    
    DE, USA
    
    
    100.0
    %Amax Metals
Recovery, Inc.
    
    DE, USA
    
    
    100.0
    %Climax Molybdenum Company
    
    DE, USA
    
    
    100.0
    %Climax Molybdenum B.V.
    
    The Netherlands
    
    
    100.0
    %Climax Molybdenum Marketing Corporation
    
    DE, USA
    
    
    100.0
    %Climax Molybdenum GmbH
    
    Germany
    
    
    100.0
    %




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##### 



PHELPS DODGE CORPORATION AND CONSOLIDATED SUBSIDIARIES
 EXHIBIT 21
 LIST OF SUBSIDIARIES AND INVESTMENTS AS OF DECEMBER 31, 2006
 
 RegistrantsPercent ofState/Country of
    
    VotingIncorporation
    
    PowerCyprus Metals Company, ContCopper Market, Inc.
    
    AZ, USA
    
    
    100.0
    %Cyprus Copper Marketing Corporation
    
    DE, USA
    
    
    100.0
    %Cyprus El Abra Corporation
    
    DE, USA
    
    
    100.0
    %Sociedad Contractual Minera El Abra
    
    Chile
    
    
    51.0
    %Cyprus Tohono Corporation
    
    DE, USA
    
    
    100.0
    %Mt. Emmons Mining Company
    
    DE, USA
    
    
    100.0
    %Silver Springs Ranch, Inc.
    
    CO, USA
    
    
    100.0
    %Phelps Dodge Bagdad, Inc.
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Chicago Rod, Inc.
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Miami, Inc.
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Sierrita, Inc.
    
    DE, USA
    
    
    100.0
    %Sociedad Minera Cerro Verde S.A.
    
    Peru
    
    
    53.6
    %Cyprus Exploration and Development Corporation
    
    DE, USA
    
    
    100.0
    %Cyprus Minera de Chile, Inc.
    
    DE, USA
    
    
    100.0
    %Cyprus Specialty Metals Company
    
    DE, USA
    
    
    100.0
    %Cyprus Mines Corporation
    
    DE, USA
    
    
    100.0
    %Climax Molybdenum Asia Corporation
    
    DE, USA
    
    
    100.0
    %Missouri Lead Smelting Company
    
    DE, USA
    
    
    100.0
    %United States Metals Refining Company
    
    DE, USA
    
    
    100.0
    %Dodge & James Insurance Company, Ltd.
    
    Bermuda
    
    
    100.0
    %Electroconductores de Honduras, S.A. de C.V.
    
    Honduras
    
    
    59.4
    %Habirshaw Cable and Wire Corporation
    
    NY, USA
    
    
    100.0
    %Hidalgo Mining, LLC
    
    NM, USA
    
    
    100.0
    %James Douglas Insurance Company, Ltd.
    
    Bermuda
    
    
    100.0
    %PD Candelaria, Inc.
    
    DE, USA
    
    
    100.0
    %Compañia Contractual Minera Candelaria
    
    Chile
    
    
    80.0
    %PD Cayman Corporation
    
    Cayman Islands
    
    
    100.0
    %PD Cobre, Inc.
    
    DE, USA
    
    
    100.0
    %Cobre Mining
Company (d)
    
    NM, USA
    
    
    50.0
    %Metallic Ventures, Inc.
    
    NV, USA
    
    
    100.0
    %Minera Aurex
(Chile) Limitada (e)
    
    Chile
    
    
    99.9
    %PD Ojos del Salado, Inc.
    
    DE, USA
    
    
    100.0
    %Compañia Contractual Minera Ojos del Salado
    
    Chile
    
    
    80.0
    %Phelps Dodge Africa Cable Corporation
    
    DE, USA
    
    
    100.0
    %Metal Fabricators of Zambia Limited
    
    Zambia
    
    
    53.0
    %Phelps Dodge Ajo, Inc.
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Chino, Inc.
    
    DE, USA
    
    
    100.0
    %Chino Mines
Company (f)
    
    NM, USA
    
    
    66.7
    %Phelps Dodge Corporation of Canada, Limited
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Development Corporation
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Dublin
    
    Ireland
    
    
    100.0
    %Phelps Dodge Energy Services, LLC
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Exploration Corporation
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Industries, Inc.
    
    DE, USA
    
    
    100.0
    %Phelps Dodge International Corporation
    
    DE, USA
    
    
    100.0
    %PD Wire & Cable Sales Corporation
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Magnet Wire (Austria) GmbH
    
    Austria
    
    
    100.0
    %Phelps Dodge Mercantile Company
    
    NY, USA
    
    
    100.0
    %Phelps Dodge Mining Services, Inc.
    
    DE, USA
    
    
    100.0
    %




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##### 



PHELPS DODGE CORPORATION AND CONSOLIDATED SUBSIDIARIES
 EXHIBIT 21
 LIST OF SUBSIDIARIES AND INVESTMENTS AS OF DECEMBER 31, 2006
 
 RegistrantsPercent ofState/Country of
    
    VotingIncorporation
    
    PowerPhelps Dodge Molybdenum Corporation
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Morenci, Inc.
    
    DE, USA
    
    
    100.0
    %Phelps Dodge National Cables Corporation
    
    DE, USA
    
    
    100.0
    %National Cables (Proprietary) Limited
    
    South Africa
    
    
    60.0
    %Phelps Dodge of Africa, Ltd.
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Mining (Zambia) Limited
    
    Zambia
    
    
    99.9
    %Phelps Dodge Overseas Capital Corporation
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Power Marketing, LLC
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Refining Corporation
    
    NY, USA
    
    
    100.0
    %Phelps Dodge Safford, Inc.
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Sales Company, Incorporated
    
    DE, USA
    
    
    100.0
    %Phelps Dodge Suzhou Holdings, Inc.
    
    Cayman Islands
    
    
    100.0
    %Phelps Dodge (Suzhou) Magnet Wire Company Ltd.
    
    China
    
    
    100.0
    %Phelps Dodge Thailand Limited
    
    Thailand
    
    
    75.5
    %Soner, Inc.
    
    NJ, USA
    
    
    100.0
    %Phelps Dodge High Performance Conductors of NJ, Inc.
    
    NJ, USA
    
    
    100.0
    %The Morenci Water & Electric Company
    
    AZ, USA
    
    
    100.0
    %PDM Energy, L.L.C.
    
    AZ, USA
    
    
    100.0
    %Tyrone Mining, LLC
    
    NM, USA
    
    
    100.0
    %Phelps Dodge Tyrone, Inc.
    
    DE, USA
    
    
    100.0
    %Western Nuclear Australia Limited
    
    DE, USA
    
    
    100.0
    %Western Nuclear, Inc.
    
    DE, USA
    
    
    100.0
    %Investments carried on an equity basis:Apache Nitrogen Products, Inc.
    
    NJ, USA
    
    
    49.2
    %Copreco, L.L.C.
    
    AZ, USA
    
    
    50.0
    %Colada Continua Chilena, S.A.
    
    Chile
    
    
    41.0
    %Keystone Electric Wire and Cable Company Limited
    
    Hong Kong
    
    
    20.0
    %PDTL Trading Company Limited
    
    Thailand
    
    
    49.0
    %Phelps Dodge Philippines, Inc.
    
    Philippines
    
    
    40.0
    %
  (a)
    
    24.2 percent owned by Habirshaw Cable and Wire Corporation(b)
    
    33.0 percent owned by Cyprus Specialty Metals Company(c)
    
    9.7 percent owned by Cyprus Exploration and Development Corporation(d)
    
    50.0 percent owned by Metallic Ventures, Inc.(e)
    
    0.1 percent owned by Minera Cobre Chile Limitada(f)
    
    33.3 percent owned by Chino
Acquisition, Inc.