<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AT JUNE 30, 1999 AND THE RELATED CONSOLIDATED
STATEMENTS OF OPERATIONS AND OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30,
1999 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-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<EXCHANGE-RATE>                                      1
<CASH>                                         143,900
<SECURITIES>                                         0
<RECEIVABLES>                                  395,500
<ALLOWANCES>                                         0
<INVENTORY>                                    263,500
<CURRENT-ASSETS>                               967,000
<PP&E>                                       6,142,500
<DEPRECIATION>                               2,641,400
<TOTAL-ASSETS>                               4,901,500
<CURRENT-LIABILITIES>                          771,500
<BONDS>                                        801,700
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       362,400
<OTHER-SE>                                   2,011,000
<TOTAL-LIABILITY-AND-EQUITY>                 4,901,500
<SALES>                                      1,354,200
<TOTAL-REVENUES>                             1,354,200
<CGS>                                        1,073,200
<TOTAL-COSTS>                                1,073,200
<OTHER-EXPENSES>                               248,400
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              48,000
<INCOME-PRETAX>                               (81,600)
<INCOME-TAX>                                    18,700
<INCOME-CONTINUING>                           (57,000)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                (3,500)
<CHANGES>                                            0
<NET-INCOME>                                  (60,500)
<EPS-BASIC>                                   (1.04)
<EPS-DILUTED>                                   (1.04)