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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,
 BA5n26InB4jbECKAE0YyVgIvoKSzL4OHhjF+pIhgOjEBJRSxMbVUdeyP+M8cGRbx
 Ii5650xSxm9bVo6wzKGbBQ==

<SEC-DOCUMENT>0001209191-03-031305.txt : 20031119
<SEC-HEADER>0001209191-03-031305.hdr.sgml : 20031119
<ACCEPTANCE-DATETIME>20031119190200
ACCESSION NUMBER:		0001209191-03-031305
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031105
FILED AS OF DATE:		20031119

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BERRESSE JAMES P
		CENTRAL INDEX KEY:			0001269282

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00082
		FILM NUMBER:		031014030

	BUSINESS ADDRESS:	
		STREET 1:		ONE NORTH CENTRAL AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004
		BUSINESS PHONE:		6023668199

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>bpx68429_bpx14jpb4a.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4/A</documentType><periodOfReport>2003-11-05</periodOfReport><dateOfOriginalSubmission>2003-11-06</dateOfOriginalSubmission><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000078066</issuerCik><issuerName>PHELPS DODGE CORP</issuerName>        <issuerTradingSymbol>PD</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001269282</rptOwnerCik><rptOwnerName>BERRESSE JAMES P</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>C/O PHELPS DODGE CORPORATION</rptOwnerStreet1><rptOwnerStreet2>ONE NORTH CENTRAL AVENUE</rptOwnerStreet2><rptOwnerCity>PHOENIX</rptOwnerCity><rptOwnerState>AZ</rptOwnerState><rptOwnerZipCode>85004</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officer
Title>President, CCC</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>COMMON SHARES</value></securityTitle><transactionDate><value>2003-11-05</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionAmounts><transactionShares><value>5000</value></transactionShares><transactionPricePerShare><value>40.6050</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>5000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>COMMON SHARES</value>
</securityTitle><transactionDate><value>2003-11-05</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionAmounts><transactionShares><value>4000</value></transactionShares><transactionPricePerShare><value>62.7284</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>12512</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>EMPLOYEE STOCK OPTIONS/RIGHTS TO PURCHASE</value></securityTitle><conversionOrExercisePrice><value>40.6050</value></conversionOrExercisePrice><transactionD
ate><value>2003-11-05</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionAmounts><transactionShares><value>5000</value></transactionShares><transactionPricePerShare><value>40.6050</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2003-07-03</value></exerciseDate><expirationDate><value>2012-07-03</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>COMMON SHARES</value></underlyingSecurityTitle><underlyingSecurityShares><value>5000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>46454</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></owners
hipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Option exercise was omitted from the form 4 filed by the reporting person after his original form 3 and his form 144 were filed.</footnote></footnotes><ownerSignature><signatureName> / s / J. Dale Brunk, Attorney-in-fact for James P. Berresse</signatureName><signatureDate>2003-11-19</signatureDate></ownerSignature></ownershipDocument>

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