##### 



PHELPS DODGE CORPORATION AND CONSOLIDATED SUBSIDIARIES
  LIST OF SUBSIDIARIES AND INVESTMENTS AS OF DECEMBER 31, 2005
 Registrant'spercent ofState/Country of
    
    votingIncorporation
    
    powerPhelps Dodge Corporation
    
    NY, USA
    
    
    100.0Ajo Improvement Company
    
    AZ, USA
    
    
    100.0Alambres y Cables de Panama, S.A.
    
    Panama
    
    
    78.1Alambres y Cables Venezolanos, C.A.
    
    Venezuela
    
    
    100.0Annavas Development Co., Ltd.
    
    DE, USA
    
    
    100.0Arizona Community Investment Corporation
    
    AZ, USA
    
    
    100.0Cables Electricos Ecuatorianos, C.A.
    
    Ecuador
    
    
    67.1Cahosa, S.A.
    
    Panama
    
    
    78.1Chino Acquisition Inc.
    
    DE, USA
    
    
    100.0Cobre Cerrillos S.A. (a)
    
    Chile
    
    
    100.0Columbian Chemicals Company
    
    DE, USA
    
    
    100.0Capital Gestao de Negocios Ltda.
    
    Brazil
    
    
    100.0Columbian International Chemicals Corporation
    
    DE, USA
    
    
    100.0Columbian Carbon International (France) S.A.
    
    France
    
    
    100.0Columbian Carbon Spain, S.A.
    
    Spain
    
    
    100.0Columbian Chemicals Brasil, S.A.
    
    Brazil
    
    
    100.0Columbian Chemicals Canada, Ltd.
    
    Canada
    
    
    100.0Columbian Carbon Deutschland GmbH (b)
    
    Germany
    
    
    90.0Columbian Chemicals Europa, GmbH
    
    Germany
    
    
    100.0Columbian Chemicals Korea Co., Ltd.
    
    Korea
    
    
    85.0Columbian Chemicals Philippines Distribution Co., Inc.
    
    Philippines
    
    
    100.0Columbian Holding Company (c)
    
    DE, USA
    
    
    98.0Columbian Carbon Europa S.R.L.
    
    Italy
    
    
    100.0Columbian Tiszai Carbon Ltd. (d)
    
    Hungary
    
    
    99.9Columbian (U.K.) Limited
    
    United Kingdom
    
    
    100.0Sevalco Limited
    
    United Kingdom
    
    
    100.0Columbian Carbon Japan Ltd.
    
    Japan
    
    
    68.0Columbian International Trading Company
    
    DE, USA
    
    
    100.0Columbian Technology Company
    
    DE, USA
    
    
    100.0North Bend Cogen, L.L.C.
    
    LA, USA
    
    
    100.0CONDUCEN, S.A.
    
    Costa Rica
    
    
    73.4Cyprus Amax Minerals Company
    
    DE, USA
    
    
    100.0Amax Arizona, Inc.
    
    NV, USA
    
    
    100.0Amax de Chile, Inc.
    
    DE, USA
    
    
    100.0Amax Energy Inc.
    
    DE, USA
    
    
    100.0Amax Zinc (Newfoundland) Limited
    
    DE, USA
    
    
    100.0Amax Exploration (Ireland), Inc.
    
    DE, USA
    
    
    100.0Amax Exploration, Inc.
    
    DE, USA
    
    
    100.0Amax Nickel Overseas Ventures, Inc.
    
    DE, USA
    
    
    100.0Amax Realty Development, Inc.
    
    DE, USA
    
    
    100.0Amax Research & Development, Inc.
    
    DE, USA
    
    
    100.0Amax Specialty Coppers Corporation
    
    DE, USA
    
    
    100.0Amax Specialty Metals (Driver), Inc.
    
    DE, USA
    
    
    100.0American Metal Climax, Inc.
    
    DE, USA
    
    
    100.0Ametalco, Inc.
    
    NY, USA
    
    
    100.0Ametalco Limited
    
    England
    
    
    100.0Climax Molybdenum U.K. Limited
    
    England
    
    
    100.0




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##### 



PHELPS DODGE CORPORATION AND CONSOLIDATED SUBSIDIARIES
  LIST OF SUBSIDIARIES AND INVESTMENTS AS OF DECEMBER 31, 2005
 Registrant'spercent ofState/Country of
    
    votingIncorporation
    
    powerClimax Canada Ltd.
    
    DE, USA
    
    
    100.0Climax Engineered Materials, LLC
    
    CO, USA
    
    
    100.0Kinetics Climax, Inc.
    
    DE, USA
    
    
    100.0Cyprus Amax Chile Holdings, Inc.
    
    DE, USA
    
    
    100.0Minera Cyprus Amax Chile Limitada (e)
    
    Chile
    
    
    67.0Minera Cyprus Chile Limitada (f)
    
    Chile
    
    
    90.3Cyprus Metals Company
    
    DE, USA
    
    
    100.0Cyprus Climax Metals Company
    
    DE, USA
    
    
    100.0Amax Metals Recovery, Inc.
    
    DE, USA
    
    
    100.0Climax Molybdenum Company
    
    DE, USA
    
    
    100.0Climax Molybdenum GmbH
    
    Germany
    
    
    100.0Copper Market, Inc.
    
    AZ, USA
    
    
    100.0Cyprus El Abra Corporation
    
    DE, USA
    
    
    100.0Sociedad Contractual Minera El Abra
    
    Chile
    
    
    51.0Cyprus Tohono Corporation
    
    DE, USA
    
    
    100.0Mt. Emmons Mining Company
    
    DE, USA
    
    
    100.0Silver Springs Ranch, Inc.
    
    CO, USA
    
    
    100.0Phelps Dodge Bagdad, Inc.
    
    DE, USA
    
    
    100.0Phelps Dodge Chicago Rod, Inc.
    
    DE, USA
    
    
    100.0Phelps Dodge Miami, Inc.
    
    DE, USA
    
    
    100.0Phelps Dodge Sierrita, Inc.
    
    DE, USA
    
    
    100.0Sociedad Minera Cerro Verde S.A.A.
    
    Peru
    
    
    53.6Cyprus Exploration and Development Corporation
    
    DE, USA
    
    
    100.0Cyprus Minera de Chile, Inc.
    
    DE, USA
    
    
    100.0Cyprus Specialty Metals Company
    
    DE, USA
    
    
    100.0Cyprus Mines Corporation
    
    DE, USA
    
    
    100.0Climax Molybdenum Asia Corporation
    
    DE, USA
    
    
    100.0Cyprus Amax Leasing Corporation
    
    DE, USA
    
    
    100.0Dodge & James Insurance Company, Ltd.
    
    Bermuda
    
    
    100.0Electroconductores de Honduras, S.A. de C.V.
    
    Honduras
    
    
    59.4Habirshaw Cable and Wire Corporation
    
    NY, USA
    
    
    100.0Hidalgo Mining, LLC
    
    NM, USA
    
    
    100.0James Douglas Insurance Company, Ltd.
    
    Bermuda
    
    
    100.0PD Candelaria, Inc.
    
    DE, USA
    
    
    100.0Compañía Contractual Minera Candelaria
    
    Chile
    
    
    80.0PD Cayman Corporation
    
    Cayman Islands
    
    
    100.0PD Cobre, Inc.
    
    DE, USA
    
    
    100.0Cobre Mining Company (g)
    
    NM, USA
    
    
    50.0Metallic Ventures, Inc.
    
    NV, USA
    
    
    100.0PD Ojos del Salado, Inc.
    
    DE, USA
    
    
    80.0Phelps Dodge Africa Cable Corporation
    
    DE, USA
    
    
    100.0Metal Fabricators of Zambia Limited
    
    Zambia
    
    
    53.0Phelps Dodge China Corporation
    
    DE, USA
    
    
    100.0Phelps Dodge Chino, Inc.
    
    DE, USA
    
    
    100.0Chino Mines Company (h)
    
    NM, USA
    
    
    66.7Phelps Dodge Corporation of Canada, Limited
    
    DE, USA
    
    
    100.0Phelps Dodge Development Corporation
    
    DE, USA
    
    
    100.0




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##### 



PHELPS DODGE CORPORATION AND CONSOLIDATED SUBSIDIARIES
  LIST OF SUBSIDIARIES AND INVESTMENTS AS OF DECEMBER 31, 2005
 Registrant'spercent ofState/Country of
    
    votingIncorporation
    
    powerPhelps Dodge Dublin
    
    Ireland
    
    
    100.0Phelps Dodge Energy Services, LLC
    
    DE, USA
    
    
    100.0Phelps Dodge Exploration Corporation
    
    DE, USA
    
    
    100.0Caucasus Metal and Minerals LLC (i)
    
    Armenia
    
    
    99.0PDSMM Holding Ltd.
    
    British Virgin Islands
    
    
    55.0PDSMM Sichuan L.P. (j)
    
    Cayman Islands
    
    
    54.5Phelps Dodge Exploration Sweden AB
    
    Sweden
    
    
    100.0Phelps Dodge Kamchatka, LLC (k)
    
    DE, USA
    
    
    99.0Kamchatka Minerals LLC
    
    Russia
    
    
    100.0Phelps Dodge Katanga Corporation
    
    DE, USA
    
    
    100.0Lundin Holdings Ltd.
    
    Bermuda
    
    
    70.0Chui Ltd.
    
    Bermuda
    
    
    100.0Faru Ltd.
    
    Bermuda
    
    
    100.0Mboko Ltd.
    
    Bermuda
    
    
    100.0Mofia Ltd.
    
    Bermuda
    
    
    100.0Tembo Ltd.
    
    Bermuda
    
    
    100.0Tenke Fungurume Mining S.A.R.L. (l)
    
    Congo
    
    
    80.0Phelps Dodge Khabarovsk, LLC (k)
    
    DE, USA
    
    
    99.0Amur Minerals LLC
    
    Russia
    
    
    100.0Phelps Dodge Magadan (k)
    
    DE, USA
    
    
    99.0Kolymageo LLC
    
    Russia
    
    
    100.0South Danube Metals, D.O.O., Beograd
    
    Serbia
    
    
    100.0Svetloye Gold Corporation, fka PD Russia, Inc.
    
    DE, USA
    
    
    49.0PD Rus LLC
    
    Russia
    
    
    100.0Phelps Dodge Hidalgo, Inc.
    
    DE, USA
    
    
    100.0Phelps Dodge High Performance Conductors of SC & GA, Inc.
    
    NY, USA
    
    
    100.0Phelps Dodge High Performance Conductors Japan Co., Ltd.
    
    Japan
    
    
    100.0Phelps Dodge Industries, Inc.
    
    DE, USA
    
    
    100.0PD Receivables LLC
    
    DE, USA
    
    
    100.0Phelps Dodge International Corporation
    
    DE, USA
    
    
    100.0PD Wire & Cable Sales Corporation
    
    DE, USA
    
    
    100.0Phelps Dodge Magnet Wire (Austria) GmbH
    
    Austria
    
    
    100.0Phelps Dodge Mercantile Company
    
    NY, USA
    
    
    100.0Phelps Dodge Mining Services, Inc.
    
    DE, USA
    
    
    100.0Phelps Dodge Molybdenum Corporation
    
    DE, USA
    
    
    100.0Phelps Dodge Morenci, Inc.
    
    DE, USA
    
    
    100.0Phelps Dodge Overseas Capital Corporation
    
    DE, USA
    
    
    100.0Phelps Dodge Power Marketing, LLC
    
    DE, USA
    
    
    100.0Phelps Dodge Refining Corporation
    
    NY, USA
    
    
    100.0Phelps Dodge Safford, Inc.
    
    DE, USA
    
    
    100.0Phelps Dodge Sales Company, Incorporated
    
    DE, USA
    
    
    100.0Phelps Dodge Suzhou Holdings, Inc.
    
    Cayman Islands
    
    
    100.0Phelps Dodge (Suzhou) Magnet Wire Company Ltd.
    
    China
    
    
    100.0Phelps Dodge Thailand Limited
    
    Thailand
    
    
    75.5Phelps Dodge Wire and Cable Holding de Mexico SA de CV (m)
    
    Mexico
    
    
    99.0Soner, Inc.
    
    NJ, USA
    
    
    100.0Phelps Dodge High Performance Conductors of NJ, Inc.
    
    NJ, USA
    
    
    100.0




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##### 



PHELPS DODGE CORPORATION AND CONSOLIDATED SUBSIDIARIES
  LIST OF SUBSIDIARIES AND INVESTMENTS AS OF DECEMBER 31, 2005
 Registrant'spercent ofState/Country of
    
    votingIncorporation
    
    powerThe Morenci Water & Electric Company
    
    AZ, USA
    
    
    100.0PDM Energy, L.L.C.
    
    AZ, USA
    
    
    100.0Tyrone Mining, LLC
    
    NM, USA
    
    
    100.0Phelps Dodge Tyrone, Inc.
    
    DE, USA
    
    
    100.0Investments carried on an equity basis:Apache Nitrogen Products, Inc.
    
    NJ, USA
    
    
    49.2Copreco, L.L.C.
    
    AZ, USA
    
    
    50.0Colada Continua Chilena, S.A.
    
    Chile
    
    
    41.0Keystone Electric Wire and Cable Company Limited
    
    Hong Kong
    
    
    20.0PDTL Trading Company Limited
    
    Thailand
    
    
    49.0Phelps Dodge Philippines, Inc.
    
    Philippines
    
    
    40.0
   (a)
    
    24.2 percent owned by Habirshaw Cable and Wire Corporation(b)
    
    10.0 percent owned by Columbian Holding Company(c)
    
    2.0 percent owned by Columbian Chemicals Canada, Ltd.(d)
    
    0.1 percent owned by Columbian Chemicals Company(e)
    
    33.0 percent owned by Cyprus Specialty Metals Company(f)
    
    9.7 percent owned by Cyprus Exploration and Development Corporation(g)
    
    50.0 percent owned by Metallic Ventures, Inc.(h)
    
    33.3 percent owned by Chino Acquisition, Inc.(i)
    
    1.0 percent owned by Phelps Dodge Africa Cable Corporation(j)
    
    1.0 percent owned by PDSMM Holding Ltd.(k)
    
    1.0 percent owned by Phelps Dodge Corporation(l)
    
    0.5 percent owned by each of the following entities: Chui Ltd., Faru Ltd., Mboko Ltd., Mofia Ltd., and Tembo Ltd.(m)
    
    1.0 percent owned by Phelps Dodge Industries, Inc.