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):  March 26, 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 March 26, 1997:

          NEW ORLEANS, LA.,  March 26,  1997 --  Freeport-McMoRan Copper  &
          Gold Inc.  (FCX)  has been  in  the process  of  undertaking  due
          diligence activities  with  regard to  the  previously  announced
          transaction  with  BRE-X  Minerals  LTD  (BRE-X)  and  Indonesian
          interests whereby, subject  to due diligence,  FCX has agreed  to
          acquire a 15  percent interest in  two Indonesian companies  that
          are expected to be  granted Contracts of  Work (COWs) to  explore
          and develop the  mining rights in  the Busang II  and Busang  III
          areas of East Kalimantan, Indonesia. 

               During the  past three  weeks, FCX  has drilled  seven  core
          holes within the Busang II project area to confirm the results of
          core holes previously  drilled by BRE-X.   To  date, analyses  of
          these cores,  which  remain  incomplete,  indicate  insignificant
          amounts of gold.

               FCX informed BRE-X of  these findings.   Representatives of
          BRE-X met with  FCX's technical  team in  Jakarta, Indonesia  on
          March 26, 1997, at which  time all information available  to FCX
          was presented  to the  BRE-X representatives.    Today, FCX  was
          informed by BRE-X that,  based on the recommendation  of BRE-X's
          independent  technical  consultants,  BRE-X  was  undertaking  a
          review that  includes  drilling  additional core  holes  in  the
          Busang II  area.    In  addition,  BRE-X advised  FCX  that  its
          independent technical consultants had informed BRE-X  that there
          appears to  be  a strong  possibility  that the  potential  gold
          resources on the Busang project as previously  reported by BRE-X
          have been overstated because of invalid samples  and assaying of
          these samples.

               FCX will monitor and cooperate with the on-going review  and
          drilling at the Busang project.  Under the terms of its agreement
          with BRE-X  and  Indonesian  interests,  FCX  has  the  right  to
          participate as a 15 percent owner of the Busang project by paying
          25 percent of the total cost of delineating a proven reserve  and
          constructing the  initial Busang  complex,  up to  $400  million,
          subject to the completion of due diligence satisfactory to FCX.  
          FCX will elect to  participate in the  development of the  Busang
          project only if  development is, in  FCX's opinion,  economically
          feasible.

               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:  March 26, 1997