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D.C.&#160;&#160;20549</font></div>
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8-K</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
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to Section 13 OR 15(d) of The Securities Exchange Act of 1934</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
of Report (Date of earliest event reported): September 10, 2008</font></div>
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COPPER &amp; GOLD INC.</font></div>
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name of registrant as specified in its charter)</font></div>
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telephone number, including area code:&#160;&#160;(602) 366-8100</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check the
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provisions:</font></div>
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
8.01.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Other
Events.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Freeport-McMoRan
Copper &amp; Gold Inc. (FCX) issued a press release dated September 10, 2008,
announcing a small scale failure encompassing approximately 75,000 tonnes of
material at the Grasberg open pit operated by its 90.6 percent owned subsidiary
PT Freeport Indonesia (PT-FI), and revised its projected copper and gold sales
volumes for 2008.&#160;&#160;There were no injuries or property damage resulting
from this event (see exhibit 99.1).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FCX is
also providing an update on the estimated impact of the recent decline in copper
prices on its previously reported June 30, 2008, open pounds. &#160;At June 30,
2008, FCX&#8217;s copper sales included 369 million pounds of copper (net of minority
interests) priced at an average of $3.88 per pound and subject to final pricing
over the next several months. Assuming that the September 5, 2008,
quarter-to-date average pricing of $3.62 per pound and forward price of $3.14
per pound were applied to the June 30 provisionally priced sales, the weighted
average final price for these sales would be approximately $3.43 per pound
resulting in a reduction to third quarter revenues of approximately $230 million
and a reduction to third quarter net income of approximately $100 million. FCX
estimates that each $0.05 change in the copper forward price from the September
5, 2008, price would impact third quarter net income by $5 million. The LME
closing spot price for copper on September 9, 2008, was $3.11 per
pound.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, FCX is providing an update on its share purchases under its open
market share purchase program for up to 30 million shares. From August 2008
through September 9, 2008, FCX has acquired 4.9 million shares for approximately
$400 million ($81.95 per share average), and 25.1 million shares remain
available under this program. The timing of future purchases of FCX common stock
is dependent on many factors, including the price of FCX&#8217;s common shares, FCX&#8217;s
operating results, cash flows and financial position, copper, gold and
molybdenum prices, and general economic and market conditions.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Cautionary
Statement.</font>&#160;&#160;This Form 8-K contains forward-looking statements
in which we discuss factors we believe may affect our performance in the future.
Forward-looking statements are all statements other than historical facts, such
as statements regarding projected ore grades and milling rates, projected sales
volumes and open market purchases of FCX common stock.&#160;&#160;Accuracy of
the forward-looking statements depends on assumptions about events that change
over time and is thus susceptible to periodic change based on actual experience
and new developments.&#160;&#160;FCX cautions readers that it assumes no
obligation to update or publicly release any revisions to the forward-looking
statements in this Form 8-K and, except to the extent required by applicable
law, does not intend to update or otherwise revise the forward-looking
statements more frequently than quarterly.&#160;&#160;Additionally, important
factors that might cause future results to differ from these projections include
mine sequencing, production rates, industry risks, commodity prices, political
risks, weather-related risks, labor relations, currency translation risks and
other factors described in FCX's Annual Report on Form 10-K for the year ended
December 31, 2007, filed with the Securities and Exchange Commission
(SEC).</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Financial Statements and
Exhibits.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;Exhibits.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Exhibit included as part of this Current Report is listed in the attached
Exhibit Index.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 hereunto
duly authorized.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FREEPORT-McMoRan
COPPER &amp; GOLD INC.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By: /s/
C. Donald Whitmire, Jr.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 234pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">----------------------------------------</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">C. Donald
Whitmire, Jr.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
President and Controller -</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
Reporting</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(authorized
signatory and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 252pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Principal
Accounting Officer)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;&#160;September
10, 2008</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Freeport-McMoRan
Copper &amp; Gold Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
Index</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Number</font></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="ex99-1.htm">99.1</a></font></div>
            </td>
            <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="74%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Press
      release dated September 10, 2008, titled &#8220;Freeport-McMoRan Copper &amp;
      Gold Inc. Reports Small Scale Failure at Grasberg Open Pit &amp; Updates
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fcx09102008-8k.htm
UNITED
STATES
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): September 10, 2008
FREEPORT-McMoRan
COPPER & GOLD INC.
(Exact
name of registrant as specified in its charter)
Delaware
1-9916
74-2480931
(State
      or other jurisdiction of incorporation)
(Commission
      File Number)
(IRS
      Employer Identification Number)
One
      North Central Avenue
Phoenix,
      Arizona
85004-4414
(Address
      of principal executive offices)
(Zip
      Code)
Registrant's
telephone number, including area code:  (602) 366-8100
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Item
8.01.
Other
Events.
Freeport-McMoRan
Copper & Gold Inc. (FCX) issued a press release dated September 10, 2008,
announcing a small scale failure encompassing approximately 75,000 tonnes of
material at the Grasberg open pit operated by its 90.6 percent owned subsidiary
PT Freeport Indonesia (PT-FI), and revised its projected copper and gold sales
volumes for 2008.  There were no injuries or property damage resulting
from this event (see exhibit 99.1).
FCX is
also providing an update on the estimated impact of the recent decline in copper
prices on its previously reported June 30, 2008, open pounds.  At June 30,
2008, FCX's copper sales included 369 million pounds of copper (net of minority
interests) priced at an average of $3.88 per pound and subject to final pricing
over the next several months. Assuming that the September 5, 2008,
quarter-to-date average pricing of $3.62 per pound and forward price of $3.14
per pound were applied to the June 30 provisionally priced sales, the weighted
average final price for these sales would be approximately $3.43 per pound
resulting in a reduction to third quarter revenues of approximately $230 million
and a reduction to third quarter net income of approximately $100 million. FCX
estimates that each $0.05 change in the copper forward price from the September
5, 2008, price would impact third quarter net income by $5 million. The LME
closing spot price for copper on September 9, 2008, was $3.11 per
pound.
In
addition, FCX is providing an update on its share purchases under its open
market share purchase program for up to 30 million shares. From August 2008
through September 9, 2008, FCX has acquired 4.9 million shares for approximately
$400 million ($81.95 per share average), and 25.1 million shares remain
available under this program. The timing of future purchases of FCX common stock
is dependent on many factors, including the price of FCX's common shares, FCX's
operating results, cash flows and financial position, copper, gold and
molybdenum prices, and general economic and market conditions.
Cautionary
Statement.
This Form 8-K contains forward-looking statements
in which we discuss factors we believe may affect our performance in the future.
Forward-looking statements are all statements other than historical facts, such
as statements regarding projected ore grades and milling rates, projected sales
volumes and open market purchases of FCX common stock.  Accuracy of
the forward-looking statements depends on assumptions about events that change
over time and is thus susceptible to periodic change based on actual experience
and new developments.  FCX cautions readers that it assumes no
obligation to update or publicly release any revisions to the forward-looking
statements in this Form 8-K and, except to the extent required by applicable
law, does not intend to update or otherwise revise the forward-looking
statements more frequently than quarterly.  Additionally, important
factors that might cause future results to differ from these projections include
mine sequencing, production rates, industry risks, commodity prices, political
risks, weather-related risks, labor relations, currency translation risks and
other factors described in FCX's Annual Report on Form 10-K for the year ended
December 31, 2007, filed with the Securities and Exchange Commission
(SEC).
Item
9.01.
Financial Statements and
Exhibits.
(d)  Exhibits.
The
Exhibit included as part of this Current Report is listed in the attached
Exhibit Index.
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 hereunto
duly authorized.
FREEPORT-McMoRan
COPPER & GOLD INC.
By: /s/
C. Donald Whitmire, Jr.
----------------------------------------
C. Donald
Whitmire, Jr.
Vice
President and Controller -
Financial
Reporting
(authorized
signatory and
Principal
Accounting Officer)
Date:  September
10, 2008
Freeport-McMoRan
Copper & Gold Inc.
Exhibit
Index
Exhibit
Number
99.1
Press
      release dated September 10, 2008, titled "Freeport-McMoRan Copper &
      Gold Inc. Reports Small Scale Failure at Grasberg Open Pit & Updates
      Sales Outlook."