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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RPTpuD9V4EMkKH16Q3fxTfJ2c8/1qps4SMz4YDtYDW+n4o1h+G73yyQ/rlENtzlr
 oTqdmsedC3b/76Hwooz1zg==

<SEC-DOCUMENT>0001209191-03-003318.txt : 20030507
<SEC-HEADER>0001209191-03-003318.hdr.sgml : 20030507
<ACCEPTANCE-DATETIME>20030507152916
ACCESSION NUMBER:		0001209191-03-003318
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030505
FILED AS OF DATE:		20030507

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHELPS DODGE CORP
		CENTRAL INDEX KEY:			0000078066
		STANDARD INDUSTRIAL CLASSIFICATION:	PRIMARY SMELTING & REFINING OF NONFERROUS METALS [3330]
		IRS NUMBER:				131808503
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE NORTH CENTRAL AVE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004-3089
		BUSINESS PHONE:		6022348100

	MAIL ADDRESS:	
		STREET 1:		ONE NORTH CENTRAL AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004-3089

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PULATIE DAVID L
		CENTRAL INDEX KEY:			0001192046

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00082
		FILM NUMBER:		03686191

	MAIL ADDRESS:	
		STREET 1:		511 ARROYO SQ
		CITY:			SOUTH PASADENA
		STATE:			CA
		ZIP:			91030
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bpx67820_bpx1dlp.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>    <schemaVersion>X0101</schemaVersion><documentType>4</documentType><periodOfReport>2003-05-05</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>000078066</issuerCik>        <issuerName>PHELPS DODGE CORP</issuerName><issuerTradingSymbol>PD</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001192046</rptOwnerCik>            <rptOwnerName>PULATIE DAVID L</rptOwnerName>        </reportingOwnerId>        <reportingOwnerAddress>            <rptOwnerStreet1>  </rptOwnerStreet1>            <rptOwnerStreet2>  </rptOwnerStreet2>            <rptOwnerCity>  </rptOwnerCity>            <rptOwnerState>  </rptOwnerState>            <rptOwnerZipCode>  </rptOwnerZipCode>        </reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>SNR, VP - HUMAN RESOURCES</officerTitle></reportingOwnerRelationship></rep
ortingOwner><nonDerivativeSecurity><securityTitle><value>Common Shares </value></securityTitle><transactionDate><value>2003-05-05</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>F</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionAmounts><transactionShares><value>567</value></transactionShares><transactionValue><value>31.8540</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>15650</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeSecurity><footnotes><footnote id="F1">DISPOSAL OF 567 SHARES FOR TAX WITHHOLDING OBLIGATIONS UPON THE VESTING OF 1,668 RESTRICTED SHARES PURSUANT TO THE PHELPS DODGE CORPORATION 1998 STOCK
 OPTION AND RESTRICTED STOCK PLAN.</footnote></footnotes><ownerSignature><signatureName> J. Dale Brunk, attorney-in-fact for David L. Pulatie</signatureName><signatureDate>2003-05-05</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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