<ARTICLE>       5
<LEGEND>        THIS SCHEDULE CONTAINS SUMMARY FINANCIAL  INFORMATION  EXTRACTED
                FROM THE  CONSOLIDATED  BALANCE  SHEET AT JUNE 30,  1995 AND THE
                RELATED CONSOLIDATED  STATEMENTS OF OPERATIONS AND OF CASH FLOWS
                FOR  THE  SIX  MONTHS  ENDED  JUNE  30,  1995  OF  PHELPS  DODGE
                CORPORATION  AND  ITS  SUBSIDIARIES  AND  IS  QUALIFIED  IN  ITS
                ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>                                               1,000
<CURRENCY>                                          U.S. DOLLARS
       
                    
<PERIOD-TYPE>          6-MOS
<FISCAL-YEAR-END>                                    DEC-31-1995
<PERIOD-START>                                       JAN-01-1995
<PERIOD-END>                                         JUN-30-1995
<EXCHANGE-RATE>                                                1
<CASH>                                                   401,700
<SECURITIES>                                                   0
<RECEIVABLES>                                            499,500
<ALLOWANCES>                                                   0
<INVENTORY>                                              289,200
<CURRENT-ASSETS>                                       1,367,700
<PP&E>                                                 2,633,500
<DEPRECIATION>                                                 0
<TOTAL-ASSETS>                                         4,363,300
<CURRENT-LIABILITIES>                                    619,800
<BONDS>                                                  624,800
<COMMON>                                                 434,300
<PREFERRED-MANDATORY>                                          0
<PREFERRED>                                                    0
<OTHER-SE>                                             1,971,200
<TOTAL-LIABILITY-AND-EQUITY>                           4,363,300
<SALES>                                                2,057,700
<TOTAL-REVENUES>                                       2,057,700
<CGS>                                                  1,369,300
<TOTAL-COSTS>                                          1,369,300
<OTHER-EXPENSES>                                         146,200
<LOSS-PROVISION>                                               0
<INTEREST-EXPENSE>                                        33,300
<INCOME-PRETAX>                                          495,500
<INCOME-TAX>                                             148,700
<INCOME-CONTINUING>                                      344,800
<DISCONTINUED>                                                 0
<EXTRAORDINARY>                                                0
<CHANGES>                                                      0
<NET-INCOME>                                             344,800
<EPS-PRIMARY>                                               4.90
<EPS-DILUTED>                                               4.90