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): December 30, 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 December 30, 1996:

                   FREEPORT-McMoRan COPPER & GOLD INC. ANNOUNCES 
             CONVERSIONS AND REDEMPTIONS OF DEPOSITARY SHARES REPRESENTING
	              7% CONVERTIBLE EXCHANGEABLE PREFERRED STOCK

            	New Orleans, LA., December 30, 1996 -- Freeport-McMoRan Copper
          & Gold Inc. (FCX) announced today the results of the call for  
          redemption of its outstanding Depositary Shares (NYSE:FCX Pr) 
          representing the company's 7% Convertible Exchangeable Preferred 
          Stock.  Of the approximately 8.75 million Depositary Shares 
          outstanding at the time of the call, approximately 8.65 million 
          Depositary Shares were converted into approximately 8.83 million
          shares of FCX Class A common stock at a conversion rate of 
          approximately 1.0208 FCX Class A common shares per Depositary Share.
          The remaining Depositary Shares will be redeemed for approximately
          $2.5 million cash.  Prior to the conversion of Depositary  Shares,
          FCX Class A and Class B common shares and common share equivalents
          outstanding as of September 30, 1996 totaled approximately 195 
          million shares.

            	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:  January 2, 1997
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{"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": "97500120"}, "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): December 30, 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 December 30, 1996:

                   FREEPORT-McMoRan COPPER & GOLD INC. ANNOUNCES 
             CONVERSIONS AND REDEMPTIONS OF DEPOSITARY SHARES REPRESENTING
	              7% CONVERTIBLE EXCHANGEABLE PREFERRED STOCK

            	New Orleans, LA., December 30, 1996 -- Freeport-McMoRan Copper
          & Gold Inc. (FCX) announced today the results of the call for  
          redemption of its outstanding Depositary Shares (NYSE:FCX Pr) 
          representing the company's 7% Convertible Exchangeable Preferred 
          Stock.  Of the approximately 8.75 million Depositary Shares 
          outstanding at the time of the call, approximately 8.65 million 
          Depositary Shares were converted into approximately 8.83 million
          shares of FCX Class A common stock at a conversion rate of 
          approximately 1.0208 FCX Class A common shares per Depositary Share.
          The remaining Depositary Shares will be redeemed for approximately
          $2.5 million cash.  Prior to the conversion of Depositary  Shares,
          FCX Class A and Class B common shares and common share equivalents
          outstanding as of September 30, 1996 totaled approximately 195 
          million shares.

            	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:  January 2, 1997