<TABLE> <S> <C>

<ARTICLE>                     5
<LEGEND>
THIS  SCHEDULE  CONTAINS  SUMMARY  FINANCIAL   INFORMATION  EXTRACTED  FROM  THE
CONSOLIDATED  BALANCE  SHEET AT DECEMBER  31, 1997 AND THE RELATED  CONSOLIDATED
STATEMENTS OF OPERATIONS  AND OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 1997
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-31-1997
<PERIOD-START>                                                       JAN-01-1997
<PERIOD-END>                                                         DEC-31-1997
<EXCHANGE-RATE>                                                                1
<CASH>                                                                   470,100
<SECURITIES>                                                                   0
<RECEIVABLES>                                                            434,300
<ALLOWANCES>                                                              13,800
<INVENTORY>                                                              297,800
<CURRENT-ASSETS>                                                       1,051,100
<PP&E>                                                                 5,836,100
<DEPRECIATION>                                                         2,391,000
<TOTAL-ASSETS>                                                         4,965,200
<CURRENT-LIABILITIES>                                                    701,100
<BONDS>                                                                  857,100
<PREFERRED-MANDATORY>                                                          0
<PREFERRED>                                                                    0
<COMMON>                                                                 366,500
<OTHER-SE>                                                             2,143,900
<TOTAL-LIABILITY-AND-EQUITY>                                           4,965,200
<SALES>                                                                3,914,300
<TOTAL-REVENUES>                                                       3,914,300
<CGS>                                                                  2,744,100
<TOTAL-COSTS>                                                          2,744,100
<OTHER-EXPENSES>                                                         417,400
<LOSS-PROVISION>                                                               0
<INTEREST-EXPENSE>                                                        62,500
<INCOME-PRETAX>                                                          581,900
<INCOME-TAX>                                                             180,400
<INCOME-CONTINUING>                                                      408,500
<DISCONTINUED>                                                                 0
<EXTRAORDINARY>                                                                0
<CHANGES>                                                                      0
<NET-INCOME>                                                             408,500
<EPS-PRIMARY>                                                               6.68
<EPS-DILUTED>                                                               6.63
        

</TABLE>