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):  May 12, 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.

NEW ORLEANS, LA., May 12, 1997  - Freeport-McMoRan Copper &  Gold
Inc. (FCX)  announced  that,  at its  annual  securities  analyst
meeting, company  representatives  will discuss  FCX's  operating
activities including the status of its exploration and  expansion
programs  in  Irian  Jaya,  Indonesia.    Exploration  activities
continue within FCX's original Block A area consisting of  24,700
acres and the adjacent  Block B area  consisting of 3.25  million
acres both  covered  by  the contract  of  work  (COW)  of  FCX's
subsidiary, P.T. Freeport Indonesia Company (PT-FI).  FCX is also
conducting exploration  activities within  the 1.8  million  acre
area covered by the  COW of FCX's  subsidiary, P.T. Irja  Eastern
Minerals Corporation (Eastern Mining).
     FCX also announced today that the Government of  Indonesia's
Department of  Mines and  Energy has  indicated its  approval  to
allow FCX to expand its mill operations up to 300,000 metric tons
of ore  per  day  (MTPD) pending  successful  completion  of  the
environmental  assessment  process.    The  ability  to  increase
production, beyond  the  currently underway  fourth  concentrator
mill expansion to a minimum of 190,000-200,000 MTPD, provides FCX
significant flexibility and opportunities for enhancement through
future mine planning and production scheduling.  This will  allow
FCX to  maximize value  from its  ore  reserves both  within  the
Grasberg open pit  as well as  incorporating its  new high  grade
underground ores, including Kucing Liar, Big Gossan and  Grasberg
reserves.
     Exploratory drilling  within  Block  A  continues  to  yield
positive results and will  favorably impact future mine  planning
and expansion decisions.  Specifically, exploration activities at
Kucing Liar continue to provide  very encouraging results and  is
confirming the 200-250  million metric ton  geologic resource  of
2.0  percent  copper  equivalent  previously  announced  on   the
southeast quadrant of the Grasberg intrusive.  At year-end  1996,
82.3 million tons of ore averaging 2.2 percent copper  equivalent
at Kucing Liar, representing 1.9 billion pounds of copper and 2.7
million ounces  of gold,  were added  to recoverable  reserves.  
Additional drilling  is being  conducted from  within the  Kucing
Liar/Lembah Tembaga  drift being  driven from  the Amole  adit.  
Also, surface  drilling on  the northern  flank of  the  Grasberg
intrusive has commenced to test for Kucing Liar and  "skarn-type"
mineralization at the 2,500-2,900 meter elevation.  FCX  believes
that  both   Kucing   Liar   and   heavy   sulfide   "skarn-type"
mineralization could surround much  of the Grasberg intrusive  at
these depths.  Underground drill results  from the Amole adit  on
the southeast flank of the Grasberg intrusive are reported below,
representing  a  partial  list  of  the  drill  hole  information
encountered at  Kucing Liar  since our  update of  September  18,
1996.

           Hole No.    Interval         %Cu     g/t Au   %CuEq.
           --------    --------         ----    ------   -----
            KL16-8      210.0m          0.98     1.43     1.91
            KL18-8      142.5m          1.34     1.88     2.56
            KL20-7      156.0m          1.04     0.84     1.59
            KL20-9       40.5m          1.21     1.39     2.11
            KL22-5      408.4m          1.21     1.15     1.96
            KL23-8      326.0m          1.18     1.12     1.91
            KL24-3      299.3m          1.27     1.07     1.97
                        110.1m (deep)   1.27     0.72     1.73
            KL24-4      457.5m          2.05     1.80     3.22

Additionally, drill hole  GRS 34-1 was  drilled in  front of  the
advancing Amole adit at a -20  degree angle to test the  downward
extension of  the  Grasberg mineralization  below  the  presently
outlined 2,820 meter elevation block cave reserve.
  The following  mineralized  intervals were  encountered,  which
indicate the potential  for additional Grasberg reserves at depth.

           Hole No.  Elevation  Interval   %Cu    gAu   %CuEq.
           --------  ---------  --------  ----   ----    ----
           GRS34-1     2880         96m   1.26   1.02    1.92
                       2820         51m   1.16   0.86    1.72
                       2800        132m   1.20   1.01    1.85
                       2750         41m   1.21   1.29    2.05
                       2700         79m   0.94   0.29    1.13

Further drilling will be required  from the advancing Amole  adit
to fully evaluate this deep Grasberg potential.
     Also, the  driving  of  the Amole  adit  into  the  Grasberg
orebody has provided a unique  opportunity to take "rib"  samples
off the  walls of  this adit,  which  resulted in  the  following
mineralization.

                                 Amole
                   -------------------------------
                              Main Drift
                   ------------------------------- 
                   Interval   %Cu     gAu    %CuEq.
                   --------  ----    ----    -----
                       6m    1.63    1.37    2.55
                       3m    2.07    1.01    2.75
                       6m    1.71    1.24    2.54
                       6m    1.53    0.90    2.13
                      ---    ----    ----    ----
                      21m    1.69    1.15    2.44


     Exploration drilling  continues  at  various  other  targets
within Block A including western  extensions to the DOZ  orebody,
West Grasberg, Idenberg, DOM SE  and, as mentioned above,  Kucing
Liar North.
     Field  work  within  Block  B  continued  with  3-5   drills
operating  in  the  Hitalipa   District.    Geologic  crews   are
conducting follow-up mapping, sampling and geophysical surveys in
other target areas.   The Wabu  gold zone,  containing a  3.0-4.0
million ounce geologic resource, continues to be drilled in order
to bring this  resource to reserve  status.   Efforts to  further
expand the near  surface resource by  0.5-1.0 million ounces  are
currently being focused  in the East  Ridge and FI  zone areas.  
Upgrading of the  resource by infill  drilling also continues  in
the FI & Central zone areas of the Wabu prospect.  Following is a
partial list of some of the recent drill results.

                  FI Zone (Infill Drilling &
                          Exploration)
                 -----------------------------
                 Hole No.      Interval  gAu/t
                 -------       --------  -----
                 BO-117           24m    13.47
                 BO-109           21m    11.53
                 BO-108           21m     5.18
                 BO-110           21m     4.42
                 BO-129           21m     1.92
                 BO-165            9m     4.28

                 Central Zone (Infill Drilling)
                 -----------------------------
                 BO 144-3         45m     1.88
                 BO 158-3         36m     1.80
                 BO 176-4         69m     2.30
                 BO 176-3         27m     5.27

                  East Ridge Zone (Exploration
                           Drilling)
                 -----------------------------
                 160-1             6m     1.15
                 205-2             3m     6.88
                 205-3             3m     8.61
                 219-1             9m     2.11
                 219-4            18m     6.75

     Drilling is  also underway  at other  targets including  the
Pagane porphyry  and  Minjauh  prospects.   The  Pagane  porphyry
prospect represents a geophysical resistivity anomaly  coincident
with a  500 meter  by 500  meter altered  intrusive with  surface
samples  exhibiting  anomalous  copper  and  gold  mineralization
having values ranging  from 1.0-2.6 percent  copper and  0.75-2.0
grams per ton gold.  Pagane and another resistivity anomaly  also
on the  north side  of Wabu  Ridge are  postulated as  being  the
potential  source  of  the   mineralizing  solutions  which   are
responsible for the gold resource  discovered to date along  Wabu
Ridge.  Exploration  drilling activities have  been initiated  on
the Pagane and Minjauh prospects.
     Drilling continues  in Eastern  Mining's Etna  Bay  District
involving  porphyry  copper/gold  and  gold  targets.    Regional
follow-up mapping and sampling continues on other targets  within
Block I.  Coincident magnetic, geochemistry and geology anomalies
are being  reevaluated in  light  of newly  acquired  geophysical
resistivity data.

     Exploratory activities in Block II are being concentrated on
completing the  regional  geology  and  drilling  at  the  Haiura
prospect.  Early  drill results for  gold from  the Haiura  drill
site HU-7 are tabulated below.

              Drill No.     Interval gAu/t
              ---------     -------- -----
                HU 7-1        228m    2.08
                              (36m    8.13
                                3m   41.9)
                HU 7-2         27m    5.19
                               (3m   36.0)
                HU 7-3         12m    2.23


Porphyry style  mineralization also  exists  in the  Haiura  area
where grades from surface samples exhibiting anomalous copper and
gold mineralization  range between  1.0-1.25 percent  copper  and
0.75-2.5 grams per ton gold.
     Surface work  at  Katehawa  East,  also  in  Block  II,  has
outlined  a  200  meter   by  500  meter  mineralized   intrusive
associated with a magnetic  high with surface samples  exhibiting
anomalous copper and gold mineralization ranging between  1.0-4.5
percent copper and  0.75-4.0 grams per  ton gold.   A  helicopter
assisted sampling program was completed in Eastern Mining's Block
III area with results presently being interpreted.
     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:  /s/ Michael A. Weaver
                                   ------------------------------
                                        Michael A. Weaver
                              Controller - Financial Reporting
                                  (authorized signatory and
                                 Principal Accounting Officer)




Date:  May 13, 1997
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 11680}]
{"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": "97602879"}, "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):  May 12, 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.

NEW ORLEANS, LA., May 12, 1997  - Freeport-McMoRan Copper &  Gold
Inc. (FCX)  announced  that,  at its  annual  securities  analyst
meeting, company  representatives  will discuss  FCX's  operating
activities including the status of its exploration and  expansion
programs  in  Irian  Jaya,  Indonesia.    Exploration  activities
continue within FCX's original Block A area consisting of  24,700
acres and the adjacent  Block B area  consisting of 3.25  million
acres both  covered  by  the contract  of  work  (COW)  of  FCX's
subsidiary, P.T. Freeport Indonesia Company (PT-FI).  FCX is also
conducting exploration  activities within  the 1.8  million  acre
area covered by the  COW of FCX's  subsidiary, P.T. Irja  Eastern
Minerals Corporation (Eastern Mining).
     FCX also announced today that the Government of  Indonesia's
Department of  Mines and  Energy has  indicated its  approval  to
allow FCX to expand its mill operations up to 300,000 metric tons
of ore  per  day  (MTPD) pending  successful  completion  of  the
environmental  assessment  process.    The  ability  to  increase
production, beyond  the  currently underway  fourth  concentrator
mill expansion to a minimum of 190,000-200,000 MTPD, provides FCX
significant flexibility and opportunities for enhancement through
future mine planning and production scheduling.  This will  allow
FCX to  maximize value  from its  ore  reserves both  within  the
Grasberg open pit  as well as  incorporating its  new high  grade
underground ores, including Kucing Liar, Big Gossan and  Grasberg
reserves.
     Exploratory drilling  within  Block  A  continues  to  yield
positive results and will  favorably impact future mine  planning
and expansion decisions.  Specifically, exploration activities at
Kucing Liar continue to provide  very encouraging results and  is
confirming the 200-250  million metric ton  geologic resource  of
2.0  percent  copper  equivalent  previously  announced  on   the
southeast quadrant of the Grasberg intrusive.  At year-end  1996,
82.3 million tons of ore averaging 2.2 percent copper  equivalent
at Kucing Liar, representing 1.9 billion pounds of copper and 2.7
million ounces  of gold,  were added  to recoverable  reserves.  
Additional drilling  is being  conducted from  within the  Kucing
Liar/Lembah Tembaga  drift being  driven from  the Amole  adit.  
Also, surface  drilling on  the northern  flank of  the  Grasberg
intrusive has commenced to test for Kucing Liar and  "skarn-type"
mineralization at the 2,500-2,900 meter elevation.  FCX  believes
that  both   Kucing   Liar   and   heavy   sulfide   "skarn-type"
mineralization could surround much  of the Grasberg intrusive  at
these depths.  Underground drill results  from the Amole adit  on
the southeast flank of the Grasberg intrusive are reported below,
representing  a  partial  list  of  the  drill  hole  information
encountered at  Kucing Liar  since our  update of  September  18,
1996.

           Hole No.    Interval         %Cu     g/t Au   %CuEq.
           --------    --------         ----    ------   -----
            KL16-8      210.0m          0.98     1.43     1.91
            KL18-8      142.5m          1.34     1.88     2.56
            KL20-7      156.0m          1.04     0.84     1.59
            KL20-9       40.5m          1.21     1.39     2.11
            KL22-5      408.4m          1.21     1.15     1.96
            KL23-8      326.0m          1.18     1.12     1.91
            KL24-3      299.3m          1.27     1.07     1.97
                        110.1m (deep)   1.27     0.72     1.73
            KL24-4      457.5m          2.05     1.80     3.22

Additionally, drill hole  GRS 34-1 was  drilled in  front of  the
advancing Amole adit at a -20  degree angle to test the  downward
extension of  the  Grasberg mineralization  below  the  presently
outlined 2,820 meter elevation block cave reserve.
  The following  mineralized  intervals were  encountered,  which
indicate the potential  for additional Grasberg reserves at depth.

           Hole No.  Elevation  Interval   %Cu    gAu   %CuEq.
           --------  ---------  --------  ----   ----    ----
           GRS34-1     2880         96m   1.26   1.02    1.92
                       2820         51m   1.16   0.86    1.72
                       2800        132m   1.20   1.01    1.85
                       2750         41m   1.21   1.29    2.05
                       2700         79m   0.94   0.29    1.13

Further drilling will be required  from the advancing Amole  adit
to fully evaluate this deep Grasberg potential.
     Also, the  driving  of  the Amole  adit  into  the  Grasberg
orebody has provided a unique  opportunity to take "rib"  samples
off the  walls of  this adit,  which  resulted in  the  following
mineralization.

                                 Amole
                   -------------------------------
                              Main Drift
                   ------------------------------- 
                   Interval   %Cu     gAu    %CuEq.
                   --------  ----    ----    -----
                       6m    1.63    1.37    2.55
                       3m    2.07    1.01    2.75
                       6m    1.71    1.24    2.54
                       6m    1.53    0.90    2.13
                      ---    ----    ----    ----
                      21m    1.69    1.15    2.44

     Exploration drilling  continues  at  various  other  targets
within Block A including western  extensions to the DOZ  orebody,
West Grasberg, Idenberg, DOM SE  and, as mentioned above,  Kucing
Liar North.
     Field  work  within  Block  B  continued  with  3-5   drills
operating  in  the  Hitalipa   District.    Geologic  crews   are
conducting follow-up mapping, sampling and geophysical surveys in
other target areas.   The Wabu  gold zone,  containing a  3.0-4.0
million ounce geologic resource, continues to be drilled in order
to bring this  resource to reserve  status.   Efforts to  further
expand the near  surface resource by  0.5-1.0 million ounces  are
currently being focused  in the East  Ridge and FI  zone areas.  
Upgrading of the  resource by infill  drilling also continues  in
the FI & Central zone areas of the Wabu prospect.  Following is a
partial list of some of the recent drill results.

                  FI Zone (Infill Drilling &
                          Exploration)
                 -----------------------------
                 Hole No.      Interval  gAu/t
                 -------       --------  -----
                 BO-117           24m    13.47
                 BO-109           21m    11.53
                 BO-108           21m     5.18
                 BO-110           21m     4.42
                 BO-129           21m     1.92
                 BO-165            9m     4.28

                 Central Zone (Infill Drilling)
                 -----------------------------
                 BO 144-3         45m     1.88
                 BO 158-3         36m     1.80
                 BO 176-4         69m     2.30
                 BO 176-3         27m     5.27

                  East Ridge Zone (Exploration
                           Drilling)
                 -----------------------------
                 160-1             6m     1.15
                 205-2             3m     6.88
                 205-3             3m     8.61
                 219-1             9m     2.11
                 219-4            18m     6.75

     Drilling is  also underway  at other  targets including  the
Pagane porphyry  and  Minjauh  prospects.   The  Pagane  porphyry
prospect represents a geophysical resistivity anomaly  coincident
with a  500 meter  by 500  meter altered  intrusive with  surface
samples  exhibiting  anomalous  copper  and  gold  mineralization
having values ranging  from 1.0-2.6 percent  copper and  0.75-2.0
grams per ton gold.  Pagane and another resistivity anomaly  also
on the  north side  of Wabu  Ridge are  postulated as  being  the
potential  source  of  the   mineralizing  solutions  which   are
responsible for the gold resource  discovered to date along  Wabu
Ridge.  Exploration  drilling activities have  been initiated  on
the Pagane and Minjauh prospects.
     Drilling continues  in Eastern  Mining's Etna  Bay  District
involving  porphyry  copper/gold  and  gold  targets.    Regional
follow-up mapping and sampling continues on other targets  within
Block I.  Coincident magnetic, geochemistry and geology anomalies
are being  reevaluated in  light  of newly  acquired  geophysical
resistivity data.

     Exploratory activities in Block II are being concentrated on
completing the  regional  geology  and  drilling  at  the  Haiura
prospect.  Early  drill results for  gold from  the Haiura  drill
site HU-7 are tabulated below.

              Drill No.     Interval gAu/t
              ---------     -------- -----
                HU 7-1        228m    2.08
                              (36m    8.13
                                3m   41.9)
                HU 7-2         27m    5.19
                               (3m   36.0)
                HU 7-3         12m    2.23

Porphyry style  mineralization also  exists  in the  Haiura  area
where grades from surface samples exhibiting anomalous copper and
gold mineralization  range between  1.0-1.25 percent  copper  and
0.75-2.5 grams per ton gold.
     Surface work  at  Katehawa  East,  also  in  Block  II,  has
outlined  a  200  meter   by  500  meter  mineralized   intrusive
associated with a magnetic  high with surface samples  exhibiting
anomalous copper and gold mineralization ranging between  1.0-4.5
percent copper and  0.75-4.0 grams per  ton gold.   A  helicopter
assisted sampling program was completed in Eastern Mining's Block
III area with results presently being interpreted.
     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:  /s/ Michael A. Weaver
                                   ------------------------------
                                        Michael A. Weaver
                              Controller - Financial Reporting
                                  (authorized signatory and
                                 Principal Accounting Officer)

Date:  May 13, 1997