Exhibit 24


                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them his  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for him and in his name, place and stead, in
any and all capacities:

        Annual  Report  For the Year Ended  December  31,  1995 of Phelps  Dodge
Corporation on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 19th day of January, 1996.


                                                 Edward L. Addison
                                                 ------------------------------
                                                 Edward L. Addison

<PAGE>

                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them his  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for him and in his name, place and stead, in
any and all capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 18th day of January, 1996.


                                                   Robert N. Burt
                                                   ----------------------------
                                                   Robert N. Burt

<PAGE>
                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them his  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for him and in his name, place and stead, in
any and all capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 19th day of January, 1996.


                                                  Paul W. Douglas
                                                  -----------------------------
                                                  Paul W. Douglas
<PAGE>
                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them his  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for him and in his name, place and stead, in
any and all capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 29th day of January, 1996.


                                                 William A. Franke
                                                 ------------------------------
                                                 William A. Franke
<PAGE>
                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them his  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for him and in his name, place and stead, in
any and all capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 18th day of January, 1996.


                                                 Paul Hazen
                                                 ------------------------------
                                                 Paul Hazen
<PAGE>
                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them her  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for her and in her name, place and stead, in
any and all capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and purposes as she might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or her substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 19th day of January, 1996.


                                                 Marie L. Knowles
                                                 ------------------------------
                                                 Marie L. Knowles

<PAGE>
                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them his  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for him and in his name, place and stead, in
any and all capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 18th day of January, 1996.


                                                 Robert D. Krebs
                                                 ------------------------------
                                                 Robert D. Krebs

<PAGE>
                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them his  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for him and in his name, place and stead, in
any and all capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 18th day of January, 1996.


                                                 Southwood J. Morcott
                                                 ------------------------------
                                                 Southwood J. Morcott
<PAGE>
                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them his  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for him and in his name, place and stead, in
any and all capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 25th day of January, 1996.


                                                 Gordon R. Parker
                                                 ------------------------------
                                                 Gordon R. Parker
<PAGE>
                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints Douglas C. Yearley,  Thomas M. St. Clair and Robert C. Swan and each of
them his  true  and  lawful  attorney-in-fact  and  agent,  with  full  power of
substitution  and  resubstitution,  for him and in his name, place and stead, in
any and all capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 18th day of January, 1996.


                                                 J. Steven Whisler
                                                 ------------------------------
                                                 J. Steven Whisler
<PAGE>
                                POWER OF ATTORNEY


        KNOW ALL MEN BY THESE  PRESENTS,  that the  undersigned  constitutes and
appoints  Thomas M. St.  Clair and  Robert C. Swan and each of them his true and
lawful   attorney-in-fact  and  agent,  with  full  power  of  substitution  and
resubstitution,  for  him  and in his  name,  place  and  stead,  in any and all
capacities:

Annual Report For the Year Ended  December 31, 1995 of Phelps Dodge  Corporation
on Form 10-K

               (1) to sign the Annual Report for the fiscal year ended  December
        31, 1995 of Phelps Dodge  Corporation on Form 10-K ("1995 Form 10-K") to
        be filed under the Securities Exchange Act of 1934, as amended,  and any
        and all amendments to such 1995 Form 10-K;

               (2) to file such 1995 Form 10-K (and any and all such amendments)
        with all exhibits thereto, and other documents in connection  therewith,
        with the Securities and Exchange Commission; and

               (3) to take  such  other  action as may be  deemed  necessary  or
        appropriate in connection with such 1995 Form 10-K;

as fully to all intents and  purposes as he might or could do in person,  hereby
ratifying and  confirming all that said  attorneys-in-fact  and agents of any of
them, or their or his substitute or substitutes,  may lawfully do or cause to be
done by virtue hereof.

        IN WITNESS WHEREOF,  the undersigned has executed this Power of Attorney
this 18th day of January, 1996.


                                                 Douglas C. Yearley
                                                 ------------------------------
                                                 Douglas C. Yearley