<TABLE> <S> <C>

<ARTICLE>                     5
<LEGEND>       
                              THIS   SCHEDULE    CONTAINS   SUMMARY    FINANCIAL
                              INFORMATION   EXTRACTED   FROM  THE   CONSOLIDATED
                              BALANCE SHEET AT DECEMBER 31, 1996 AND THE RELATED
                              CONSOLIDATED  STATEMENTS OF OPERATIONS AND OF CASH
                              FLOWS  FOR THE YEAR  ENDED  DECEMBER  31,  1996 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
       
<S>                                                  <C>
<PERIOD-TYPE>                                       12-MOS
<FISCAL-YEAR-END>                                   DEC-31-1996
<PERIOD-START>                                      JAN-01-1996
<PERIOD-END>                                        DEC-31-1996
<EXCHANGE-RATE>                                               1
<CASH>                                                  470,100
<SECURITIES>                                                  0
<RECEIVABLES>                                           503,300
<ALLOWANCES>                                             14,200
<INVENTORY>                                             293,000
<CURRENT-ASSETS>                                      1,421,500
<PP&E>                                                5,205,900
<DEPRECIATION>                                        2,185,400
<TOTAL-ASSETS>                                        4,816,400
<CURRENT-LIABILITIES>                                   685,900
<BONDS>                                                 554,600
<PREFERRED-MANDATORY>                                         0
<PREFERRED>                                                   0
<COMMON>                                                404,400
<OTHER-SE>                                            2,351,500
<TOTAL-LIABILITY-AND-EQUITY>                          4,816,400
<SALES>                                               3,786,600
<TOTAL-REVENUES>                                      3,786,600
<CGS>                                                 2,604,400
<TOTAL-COSTS>                                         2,604,400
<OTHER-EXPENSES>                                        343,400
<LOSS-PROVISION>                                              0
<INTEREST-EXPENSE>                                       66,100
<INCOME-PRETAX>                                         687,500
<INCOME-TAX>                                            220,000
<INCOME-CONTINUING>                                     461,800
<DISCONTINUED>                                                0
<EXTRAORDINARY>                                               0
<CHANGES>                                                     0
<NET-INCOME>                                            461,800
<EPS-PRIMARY>                                              6.97
<EPS-DILUTED>                                              6.97
        

</TABLE>