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):  November 8, 1996


                         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 November 8, 1996:

          NEW ORLEANS, LA., November 8, 1996 -- Freeport-McMoRan Copper &
          Gold Inc. (FCX) announced today that the Amole tunnel, which is
          being driven from the proximity of the mill into the Grasberg
          orebody at approximately the 2,900 meter elevation, has
          intersected the fringes of heavy sulfide "skarn-type"
          mineralization which the company believes could surround the
          Grasberg complex.  Furthermore, FCX is drilling a horizontal
          pilot drill hole in front of the Amole tunnel which has
          intersected 65 meters, 40-50 meters true width, of heavy sulfide
          "skarn-type" mineralization which averaged 1.40 percent copper
          and 0.91 grams of gold per ton yielding a copper equivalent grade
          of approximately 2.00 percent.  The drill hole continued through
          this "skarn-type" mineralization directly into the mineralized
          Grasberg intrusive where the hole continues to be drilled with
          assays pending.
               Intersection of this heavy sulfide "skarn-type" mineralized
          zone confirms the results of previous wide-spaced underground
          drill results but the continuity of this zone is still under
          investigation.  The 2.00 percent copper equivalent grade in this
          first pilot hole is highly encouraging when combined with the
          result of the nearby (approximately 50 meters to the northeast)
          vertical hole, the GRS37-209, which was drilled underground from
          the 3,700 meter elevation and previously announced on May 15,
          1995.  The GRS37-209 hole encountered 627 meters of heavy sulfide
          "skarn-type" mineralization that averaged 1.22 percent copper and
          0.86 grams of gold per ton yielding a copper equivalent grade of
          1.78 percent.  As previously mentioned, this heavy sulfide
          "skarn-type" mineralized zone has the potential to encircle the
          Grasberg intrusive, approximately 850 meters in diameter, between
          the 2,500-3,100 meter elevations.
               Delineation drilling of the Kucing Liar mineralization
          within the "Golden Triangle" area at P.T. Freeport Indonesia
          Company's (PT-FI) Ertsberg-Grasberg district continues utilizing
          six diamond drill rigs from underground sites in the Amole tunnel
          and the new northwest-trending Kucing Liar/Lembah Tembaga tunnel.
          Underground drill sites are 50-135 meters apart allowing
          multiple holes, known as fans, to be drilled from each site
          across a portion of the 1.5 kilometer long Kucing Liar
          mineralized zone.  Based on current information, this mineralized
          zone could represent a geologic resource of 250 million metric
          tons at an average grade of approximately 2 percent copper
          equivalent.  On September 18, 1996, FCX announced that it had
          drilled 15 delineation holes over a 500 meter interval of the
          Kucing Liar 1.5 kilometer long mineralized zone with assay
          results on 8 of those holes.  Subsequently, 18 additional
          delineation holes have been drilled or are in progress on the
          Kucing Liar prospect over the same 500 meter interval and 20
          additional assays have been completed (4 of which being updates
          from the September 18, 1996 announcement).  The 20 assays are
          summarized below:

          Hole            Interval  % Cu       g/tAu    %Cu equiv
          -------         --------  ----       -----    ---------
          KL 16-1 (updated) 423.6m  1.97       1.88       3.19
          KL 16-2           135.4m  1.25       1.30       2.10
          KL 16-3            71.5m  0.79       1.36       1.67
          KL 16-4            73.7m  0.74       0.98       1.37
          KL 16-5            71.2m  0.82       1.09       1.53
          KL 16-6           213.0m  1.21       1.24       2.02
          KL 18-4            85.3m  1.05       1.08       1.75
          KL 18-5            57.0m  0.97       1.27       1.80
          KL 18-6 (updated)  16.1m  1.25       1.25       2.06
          KL 20-2           170.0m  1.29       1.35       2.17
          KL 20-3           252.5m  1.18       1.17       1.94
          KL 20-4           318.7m  1.16       1.03       1.83
          KL 22-1           198.0m  0.66       0.58       1.04
          KL 22-2           223.6m  0.69       0.63       1.10
          KL 23-1 (updated) 196.7m  0.76       0.61       1.16
          KL 23-2 (updated) 205.1m  1.30       1.19       2.07
          KL 23-3           131.9m  1.21       1.32       2.07
          KL 23-4           113.6m  1.07       1.97       2.35
          KL 23-5            38.1m  0.48       1.60       1.52
          KL 24-1           146.1m  0.96       0.73       1.43

               This high grade underground Kucing Liar mineralization,
          within the "Golden Triangle" and in close proximity to the mill,
          could have a significant positive impact on the grade of the ore
          feed to PT-FI's "fourth concentrator mill expansion".  The
          optimum rate of the expansion is being assessed but is expected
          to be at least 190,000 to 200,000 metric tons of ore per day. 
          Permitting for this expansion is currently underway with a start-
          up date anticipated during the second half of 1998.
               Exploration drilling activities continue to explore the
          extent of the Kucing Liar and heavy sulfide "skarn-type"
          mineralization.  Once the Amole tunnel has progressed into the
          Grasberg orebody, exploration drilling will be conducted from
          underground to test the western and northern flanks of the
          Grasberg intrusive for Kucing Liar type mineralization, heavy
          sulfide "skarn-type" mineralization around the fringes of the
          Grasberg, and the deep Grasberg below the presently outlined 600+
          million metric ton block-cave reserve that was announced in
          December 1995.
               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:  November 21, 1996
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 8436}]
{"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": "96670120"}, "business-address": {"street1": "1615 POYDRAS STREET", "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):  November 8, 1996

                         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 November 8, 1996:

          NEW ORLEANS, LA., November 8, 1996 -- Freeport-McMoRan Copper &
          Gold Inc. (FCX) announced today that the Amole tunnel, which is
          being driven from the proximity of the mill into the Grasberg
          orebody at approximately the 2,900 meter elevation, has
          intersected the fringes of heavy sulfide "skarn-type"
          mineralization which the company believes could surround the
          Grasberg complex.  Furthermore, FCX is drilling a horizontal
          pilot drill hole in front of the Amole tunnel which has
          intersected 65 meters, 40-50 meters true width, of heavy sulfide
          "skarn-type" mineralization which averaged 1.40 percent copper
          and 0.91 grams of gold per ton yielding a copper equivalent grade
          of approximately 2.00 percent.  The drill hole continued through
          this "skarn-type" mineralization directly into the mineralized
          Grasberg intrusive where the hole continues to be drilled with
          assays pending.
               Intersection of this heavy sulfide "skarn-type" mineralized
          zone confirms the results of previous wide-spaced underground
          drill results but the continuity of this zone is still under
          investigation.  The 2.00 percent copper equivalent grade in this
          first pilot hole is highly encouraging when combined with the
          result of the nearby (approximately 50 meters to the northeast)
          vertical hole, the GRS37-209, which was drilled underground from
          the 3,700 meter elevation and previously announced on May 15,
          1995.  The GRS37-209 hole encountered 627 meters of heavy sulfide
          "skarn-type" mineralization that averaged 1.22 percent copper and
          0.86 grams of gold per ton yielding a copper equivalent grade of
          1.78 percent.  As previously mentioned, this heavy sulfide
          "skarn-type" mineralized zone has the potential to encircle the
          Grasberg intrusive, approximately 850 meters in diameter, between
          the 2,500-3,100 meter elevations.
               Delineation drilling of the Kucing Liar mineralization
          within the "Golden Triangle" area at P.T. Freeport Indonesia
          Company's (PT-FI) Ertsberg-Grasberg district continues utilizing
          six diamond drill rigs from underground sites in the Amole tunnel
          and the new northwest-trending Kucing Liar/Lembah Tembaga tunnel.
          Underground drill sites are 50-135 meters apart allowing
          multiple holes, known as fans, to be drilled from each site
          across a portion of the 1.5 kilometer long Kucing Liar
          mineralized zone.  Based on current information, this mineralized
          zone could represent a geologic resource of 250 million metric
          tons at an average grade of approximately 2 percent copper
          equivalent.  On September 18, 1996, FCX announced that it had
          drilled 15 delineation holes over a 500 meter interval of the
          Kucing Liar 1.5 kilometer long mineralized zone with assay
          results on 8 of those holes.  Subsequently, 18 additional
          delineation holes have been drilled or are in progress on the
          Kucing Liar prospect over the same 500 meter interval and 20
          additional assays have been completed (4 of which being updates
          from the September 18, 1996 announcement).  The 20 assays are
          summarized below:

          Hole            Interval  % Cu       g/tAu    %Cu equiv
          -------         --------  ----       -----    ---------
          KL 16-1 (updated) 423.6m  1.97       1.88       3.19
          KL 16-2           135.4m  1.25       1.30       2.10
          KL 16-3            71.5m  0.79       1.36       1.67
          KL 16-4            73.7m  0.74       0.98       1.37
          KL 16-5            71.2m  0.82       1.09       1.53
          KL 16-6           213.0m  1.21       1.24       2.02
          KL 18-4            85.3m  1.05       1.08       1.75
          KL 18-5            57.0m  0.97       1.27       1.80
          KL 18-6 (updated)  16.1m  1.25       1.25       2.06
          KL 20-2           170.0m  1.29       1.35       2.17
          KL 20-3           252.5m  1.18       1.17       1.94
          KL 20-4           318.7m  1.16       1.03       1.83
          KL 22-1           198.0m  0.66       0.58       1.04
          KL 22-2           223.6m  0.69       0.63       1.10
          KL 23-1 (updated) 196.7m  0.76       0.61       1.16
          KL 23-2 (updated) 205.1m  1.30       1.19       2.07
          KL 23-3           131.9m  1.21       1.32       2.07
          KL 23-4           113.6m  1.07       1.97       2.35
          KL 23-5            38.1m  0.48       1.60       1.52
          KL 24-1           146.1m  0.96       0.73       1.43

               This high grade underground Kucing Liar mineralization,
          within the "Golden Triangle" and in close proximity to the mill,
          could have a significant positive impact on the grade of the ore
          feed to PT-FI's "fourth concentrator mill expansion".  The
          optimum rate of the expansion is being assessed but is expected
          to be at least 190,000 to 200,000 metric tons of ore per day. 
          Permitting for this expansion is currently underway with a start-
          up date anticipated during the second half of 1998.
               Exploration drilling activities continue to explore the
          extent of the Kucing Liar and heavy sulfide "skarn-type"
          mineralization.  Once the Amole tunnel has progressed into the
          Grasberg orebody, exploration drilling will be conducted from
          underground to test the western and northern flanks of the
          Grasberg intrusive for Kucing Liar type mineralization, heavy
          sulfide "skarn-type" mineralization around the fringes of the
          Grasberg, and the deep Grasberg below the presently outlined 600+
          million metric ton block-cave reserve that was announced in
          December 1995.
               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:  November 21, 1996