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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 17th day of November, 1998.


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




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 17th day of November, 1998.


                                                   Paul W. Douglas
                                                   -----------------------------
                                                   Paul W. Douglas




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 November, 1998.


                                                    Archie W. Dunham
                                                    ----------------------------
                                                    Archie W. Dunham



                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 17th day of November, 1998.


                                                  William A. Franke
                                                  ------------------------------
                                                  William A. Franke




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 17th day of November, 1998.


                                                  Paul Hazen
                                                  ------------------------------
                                                  Paul Hazen




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 16th day of November, 1998.


                                                 Manuel J. Iraola
                                                 ------------------------------
                                                 Manuel J. Iraola




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 17th day of November, 1998.


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




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 17th day of November, 1998.


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




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 17th day of November, 1998.


                                                   Southwood J. Morcott
                                                   -----------------------------
                                                   Southwood J. Morcott




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 17th day of November, 1998.


                                                   Gordon R. Parker
                                                   -----------------------------
                                                   Gordon R. Parker




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 17th day of November, 1998.


                                                 J. Steven Whisler
                                                 ------------------------------
                                                 J. Steven Whisler




                                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, 1998 of Phelps Dodge  Corporation
on Form 10-K

                  (1) to sign the Annual Report for the fiscal year ended
         December 31, 1998 of Phelps Dodge Corporation on Form 10-K ("1998 Form
         10-K") to be filed under the Securities Exchange Act of 1934, as
         amended, and any and all amendments to such 1998 Form 10-K;

                  (2) to file such 1998 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 1998 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 16th day of November, 1998.


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