SECURITIES AND EXCHANGE COMMISSION

                               Washington, D.C.  20549

                                      FORM 8-K

                                   CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of the

                           Securities Exchange Act of 1934

    Date of Report (Date of earliest event reported):  February 27, 1997


                         FREEPORT-McMoRan COPPER & GOLD INC.


          Delaware                  1-9916                 74-2480931

       (State or other          (Commission            (IRS Employer  
        jurisdiction of          File Number)           Identification
        incorporation or                                Number)
        organization)


                                 1615 Poydras Street
                            New Orleans, Louisiana  70112

     Registrant's telephone number, including area code:  (504) 582-4000


          Item 5.  Other Events.
          The following news release was issued by Freeport-McMoRan  Copper
          & Gold Inc. on February 27, 1997:


          NEW ORLEANS, LA., February 27, 1997 -- Freeport-McMoRan Copper  &
          Gold Inc.  (FCX) announced  today that  FCX, BRE-X  Minerals  LTD
          (BRE-X) and Indonesian interests have signed a binding  agreement
          in connection with the  previously announced transaction  whereby
          FCX has agreed to acquire a 15 percent interest in two Indonesian
          companies that  are  expected to  be  granted Contracts  of  Work
          (COWs) to explore and develop the mining rights in the Busang  II
          and Busang III areas of East Kalimantan, Indonesia.  Each company
          will be  owned 45  percent by  BRE-X,  40 percent  by  Indonesian
          interests, including the  Government of Indonesia  (GOI), and  15
          percent by FCX.  The participants have appointed FCX as the  sole
          operator of the Busang II and Busang III properties.
               In consideration  for the  transaction,  FCX has  agreed  to
          provide 25 percent of the total  estimated cost of delineating  a
          proven reserve and constructing the initial Busang mine  complex,
          up to $400 million.  Additionally, FCX has agreed to arrange,  on
          behalf of  the  Indonesian  companies,  a  $1.2  billion  project
          financing commitment  from  The  Chase  Manhattan  Bank  for  the
          remaining estimated costs of the initial Busang mine complex.
               FCX has  undertaken a  due diligence  review of  the  Busang
          properties and expects to  commence preparation of a  feasibility
          study during the second quarter of 1997 that will form the  basis
          for the  initial  mine  and  mill  development  with  an  initial
          production objective of 100,000 to 150,000 metric tons of ore per
          day.  The transactions are subject  to receipt of COWs and  other
          approvals from the GOI and certain other conditions.
               FCX will  use its  best efforts  as  a 15  percent  interest
          holder and operator, working  with our partners  and the GOI,  to
          ensure that  the environmental  impacts of  the Busang  mine  are
          minimized and that the positive  social and economic impacts  are
          maximized, both for the  local population and  for the people  of
          Indonesia as  a whole.    That is  the  essence of  FCX's  policy
          wherever it operates.
               FCX is  engaged  in  mineral  exploration  and  development,
          mining and  milling of  copper, gold  and silver  in Irian  Jaya,
          Indonesia and the smelting and refining of copper concentrates in
          Spain.  FCX is also involved in a joint venture to construct  and
          operate a smelter/refinery in Indonesia.




                                      SIGNATURE



                    Pursuant to the requirements of the Securities Exchange
          Act of 1934,  the registrant has  duly caused this  report to  be
          signed  on  its  behalf   by  the  undersigned,  thereunto   duly
          authorized.

                                        FREEPORT-McMoRan COPPER & GOLD INC.


                                        By:
                                             ------------------------------
                                                   Michael A. Weaver
                                             Controller - Financial Reporting
                                                (authorized signatory and
                                               Principal Accounting Officer)

          Date:  March 13, 1997
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 4718}]
{"company-data": {"conformed-name": "FREEPORT MCMORAN COPPER & GOLD INC", "cik": "0000831259", "assigned-sic": "1000", "irs-number": "742480931", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09916", "film-number": "97556190"}, "business-address": {"street1": "1615 POYDRAS ST", "city": "NEW ORLEANS", "state": "LA", "zip": "70112", "phone": "5045824000"}, "former-company": {"former-conformed-name": "FREEPORT MCMORAN COPPER COMPANY INC", "date-changed": "19910114"}}
SECURITIES AND EXCHANGE COMMISSION

                               Washington, D.C.  20549

                                      FORM 8-K

                                   CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of the

                           Securities Exchange Act of 1934

    Date of Report (Date of earliest event reported):  February 27, 1997

                         FREEPORT-McMoRan COPPER & GOLD INC.

          Delaware                  1-9916                 74-2480931

       (State or other          (Commission            (IRS Employer  
        jurisdiction of          File Number)           Identification
        incorporation or                                Number)
        organization)

                                 1615 Poydras Street
                            New Orleans, Louisiana  70112

     Registrant's telephone number, including area code:  (504) 582-4000

          Item 5.  Other Events.
          The following news release was issued by Freeport-McMoRan  Copper
          & Gold Inc. on February 27, 1997:

          NEW ORLEANS, LA., February 27, 1997 -- Freeport-McMoRan Copper  &
          Gold Inc.  (FCX) announced  today that  FCX, BRE-X  Minerals  LTD
          (BRE-X) and Indonesian interests have signed a binding  agreement
          in connection with the  previously announced transaction  whereby
          FCX has agreed to acquire a 15 percent interest in two Indonesian
          companies that  are  expected to  be  granted Contracts  of  Work
          (COWs) to explore and develop the mining rights in the Busang  II
          and Busang III areas of East Kalimantan, Indonesia.  Each company
          will be  owned 45  percent by  BRE-X,  40 percent  by  Indonesian
          interests, including the  Government of Indonesia  (GOI), and  15
          percent by FCX.  The participants have appointed FCX as the  sole
          operator of the Busang II and Busang III properties.
               In consideration  for the  transaction,  FCX has  agreed  to
          provide 25 percent of the total  estimated cost of delineating  a
          proven reserve and constructing the initial Busang mine  complex,
          up to $400 million.  Additionally, FCX has agreed to arrange,  on
          behalf of  the  Indonesian  companies,  a  $1.2  billion  project
          financing commitment  from  The  Chase  Manhattan  Bank  for  the
          remaining estimated costs of the initial Busang mine complex.
               FCX has  undertaken a  due diligence  review of  the  Busang
          properties and expects to  commence preparation of a  feasibility
          study during the second quarter of 1997 that will form the  basis
          for the  initial  mine  and  mill  development  with  an  initial
          production objective of 100,000 to 150,000 metric tons of ore per
          day.  The transactions are subject  to receipt of COWs and  other
          approvals from the GOI and certain other conditions.
               FCX will  use its  best efforts  as  a 15  percent  interest
          holder and operator, working  with our partners  and the GOI,  to
          ensure that  the environmental  impacts of  the Busang  mine  are
          minimized and that the positive  social and economic impacts  are
          maximized, both for the  local population and  for the people  of
          Indonesia as  a whole.    That is  the  essence of  FCX's  policy
          wherever it operates.
               FCX is  engaged  in  mineral  exploration  and  development,
          mining and  milling of  copper, gold  and silver  in Irian  Jaya,
          Indonesia and the smelting and refining of copper concentrates in
          Spain.  FCX is also involved in a joint venture to construct  and
          operate a smelter/refinery in Indonesia.

                                      SIGNATURE

                    Pursuant to the requirements of the Securities Exchange
          Act of 1934,  the registrant has  duly caused this  report to  be
          signed  on  its  behalf   by  the  undersigned,  thereunto   duly
          authorized.

                                        FREEPORT-McMoRan COPPER & GOLD INC.

                                        By:
                                             ------------------------------
                                                   Michael A. Weaver
                                             Controller - Financial Reporting
                                                (authorized signatory and
                                               Principal Accounting Officer)

          Date:  March 13, 1997