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 28, 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 28, 1997:


          NEW ORLEANS, LA., February 28, 1997 -- Freeport-McMoRan Copper  &
          Gold Inc. (FCX) announced  today proved and probable  recoverable
          reserves for the year ended December 31, 1996, upon completion of
          engineering  analysis  of  mineral  resources  for  its  year-end
          financial reports.  During 1996, P.T. Freeport Indonesia  Company
          (PT-FI), FCX's mining  affiliate, added new  proved and  probable
          recoverable reserves  totaling approximately  161 million  metric
          tons of  ore  representing  4.1 billion  pounds  of  copper,  4.9
          million ounces of gold and 10.3 million ounces of silver.  Of the
          reserves that were  added, approximately  one-half resulted  from
          initial delineation drilling  at the Kucing  Liar ore body  while
          the remainder were  from the Grasberg  and IOZ/DOZ  ore bodies.  
          These recoverable reserves  reflect an upward  adjustment to  the
          estimated 1996  reserve additions  previously reported  in  FCX's
          fourth quarter earnings release on January 21, 1997.

               Pursuant to the joint  venture arrangements between FCX  and
          The RTZ-CRA Group (RTZ-CRA), RTZ-CRA has the conditional right to
          a 40 percent interest in newly discovered reserves, subsequent to
          December 31, 1994.   RTZ-CRA does  not participate  in PT-FI  ore
          reserves discovered  prior to  December 31,  1994.   Net of  1996
          production, PT-FI's proved and  probable recoverable reserves  at
          December 31, 1996, on  a 100 percent  basis, totaled 2.0  billion
          metric tons of ore averaging 1.19  percent copper, 1.18 grams  of
          gold per ton and 3.80 grams  of silver per ton representing  43.2
          billion pounds of copper, 55.3 million  ounces of gold and  118.7
          million ounces of silver.

               Delineation  and  exploration  drilling  continues  along  a
          portion of the 1.5 kilometer  Kucing Liar mineralized zone  which
          could represent a geologic resource of 250 million metric tons at
          an average grade of approximately 2 percent copper equivalent  on
          the southern flank of the Grasberg intrusive.  As the Amole adit,
          being driven at  the 2,900 meter  elevation, progresses into  the
          Grasberg  ore  body,  additional  exploration  drilling  will  be
          conducted to test the western and northern flanks of the Grasberg
          intrusive for Kucing  Liar type mineralization  as well as  heavy
          sulfide "skarn-type"  mineralization around  the fringes  of  the
          Grasberg ore body.   PT-FI  anticipates establishing  significant
          future additions  to reserves  as  drilling progresses  and  mine
          plans are developed for the Kucing Liar ore body.

               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:  February 28, 1997
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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 28, 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 28, 1997:

          NEW ORLEANS, LA., February 28, 1997 -- Freeport-McMoRan Copper  &
          Gold Inc. (FCX) announced  today proved and probable  recoverable
          reserves for the year ended December 31, 1996, upon completion of
          engineering  analysis  of  mineral  resources  for  its  year-end
          financial reports.  During 1996, P.T. Freeport Indonesia  Company
          (PT-FI), FCX's mining  affiliate, added new  proved and  probable
          recoverable reserves  totaling approximately  161 million  metric
          tons of  ore  representing  4.1 billion  pounds  of  copper,  4.9
          million ounces of gold and 10.3 million ounces of silver.  Of the
          reserves that were  added, approximately  one-half resulted  from
          initial delineation drilling  at the Kucing  Liar ore body  while
          the remainder were  from the Grasberg  and IOZ/DOZ  ore bodies.  
          These recoverable reserves  reflect an upward  adjustment to  the
          estimated 1996  reserve additions  previously reported  in  FCX's
          fourth quarter earnings release on January 21, 1997.

               Pursuant to the joint  venture arrangements between FCX  and
          The RTZ-CRA Group (RTZ-CRA), RTZ-CRA has the conditional right to
          a 40 percent interest in newly discovered reserves, subsequent to
          December 31, 1994.   RTZ-CRA does  not participate  in PT-FI  ore
          reserves discovered  prior to  December 31,  1994.   Net of  1996
          production, PT-FI's proved and  probable recoverable reserves  at
          December 31, 1996, on  a 100 percent  basis, totaled 2.0  billion
          metric tons of ore averaging 1.19  percent copper, 1.18 grams  of
          gold per ton and 3.80 grams  of silver per ton representing  43.2
          billion pounds of copper, 55.3 million  ounces of gold and  118.7
          million ounces of silver.

               Delineation  and  exploration  drilling  continues  along  a
          portion of the 1.5 kilometer  Kucing Liar mineralized zone  which
          could represent a geologic resource of 250 million metric tons at
          an average grade of approximately 2 percent copper equivalent  on
          the southern flank of the Grasberg intrusive.  As the Amole adit,
          being driven at  the 2,900 meter  elevation, progresses into  the
          Grasberg  ore  body,  additional  exploration  drilling  will  be
          conducted to test the western and northern flanks of the Grasberg
          intrusive for Kucing  Liar type mineralization  as well as  heavy
          sulfide "skarn-type"  mineralization around  the fringes  of  the
          Grasberg ore body.   PT-FI  anticipates establishing  significant
          future additions  to reserves  as  drilling progresses  and  mine
          plans are developed for the Kucing Liar ore body.

               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:  February 28, 1997