<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
FREEPORT MCMORAN COPPER & GOLD, INC.
(Name of Issuer)
COMMON CLASS B
(Title of Class of Securities)
35671D857
(CUSIP Number)
Check the following box if a fee is being paid with this
statement X.
(A fee is not required only if the filing person: (1) has a
previous statement on file reporting beneficial ownership of
more than five percent of the class of securities described
in Item 1; and (2) has filed no amendment subsequent thereto
reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent
amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section
18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act
(however, see the Notes).
(Continued on following page(s))
Page 1 of 10 Pages
PAGE
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______________________________________________________________
13G
CUSIP NO. 35671D857 PAGE 2 OF 10 PAGES
______________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OPPENHEIMER GROUP, INC.
I.R.S. NO. 13-3331657
______________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
______________________________________________________________
3 SEC USE ONLY
______________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
______________________________________________________________
NUMBER OF 5 SOLE VOTING POWER
SHARE 0
_______________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 25,633,917
_______________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
_______________________________________________
PERSON 8 SHARED DISPOSITIVE POWER
WITH 25,633,917
______________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
25,633,917
______________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
______________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
18.31%
______________________________________________________________
12 TYPE OF REPORTING PERSON
HC
______________________________________________________________
PAGE
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______________________________________________________________
13G
CUSIP NO. 35671D857 PAGE 3 OF 10 PAGES
______________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OPPENHEIMER CAPITAL
I.R.S. NO. 13-3413767
_____________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b) X
______________________________________________________________
3 SEC USE ONLY
______________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
______________________________________________________________
NUMBER OF 5 SOLE VOTING POWER
SHARE 0
_______________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 24,383,812
_______________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
_______________________________________________
PERSON 8 SHARED DISPOSITIVE POWER
WITH 24,383,812
______________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
24,383,812
______________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
______________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
17.42%
______________________________________________________________
12 TYPE OF REPORTING PERSON
IA
______________________________________________________________
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Page 4 of 10 Pages
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Check the following box if a fee is being paid with this
Statement
Item 1(b) Name of Issuer: Freeport McMoran Copper & Gold, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
1 East 1st Street, Reno, Nevada 89501
Item 2(a) Name of Person Filing:
Oppenheimer Group, Inc.
Item 2(b) Address of Principal Business Office:
Oppenheimer Tower, World Financial Center
New York, New York 10281
Item 2(c) Citizenship:
Inapplicable
Item 2(d) Title of Class of Securities:
Common - Class B
Item 2(e) CUSIP Number: 35671D857
Item 3(g) ____X____ Parent Holding Company, in accordance with
Section 240.13d - 1(b)(1)(ii)(G)
See Exhibit 1 hereto
Item 4(a) Amount Beneficially Owned:
Oppenheimer Group, Inc. - 25,633,917 *
Item 4(b) Percent of Class:
Oppenheimer Group, Inc. - 18.31% *
* Includes amount beneficially owned by Oppenheimer Capital
as disclosed on Page 3 hereof.
PAGE
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Page 5 of 10 Pages
Item 4(c)(i) Sole Power to Vote or to direct the vote -
Oppenheimer Group, Inc. - 0
Item 4(c)(ii) Shared power to vote or to direct the vote -
Oppenheimer Group, Inc. - 25,633,917 *
Item 4(c)(iii) Sole power to dispose or to direct the disposition of -
Oppenheimer Group, Inc. - 0
Item 4(c)(iv) Shared power to dispose or to direct the disposition of -
Oppenheimer Group, Inc. - 25,633,917 *
Item 5 Ownership to Five Percent or Less of a Class:
Inapplicable
Item 6 Ownership of More than Five Percent on Behalf of
Another Person:
See Exhibit A hereto
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent
Holding Company:
See Exhibit II hereto
Item 8 Identification and Classification of Members of the Group:
Inapplicable
Item 9 Notice of Dissolution of Group:
Inapplicable
Item 10 Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired
in the ordinary course of business and were not acquired for
the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purpose or effect.
SIGNATURE After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: October 6, 1995
Signature: By: /s/ Robert I. Kleinberg
Name/Title: Robert I. Kleinberg, Vice President/Secretary
* Includes amount beneficially owned by Oppenheimer Capital as disclosed
on Page 3 hereof.
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Page 6 of 10 Pages
EXHIBIT A
The Managing General Partner of Oppenheimer Capital, a registered
investment adviser, and certain persons to whom it has delegated
the authority, have the power on behalf of Oppenheimer Capital to
direct the use of dividends or proceeds of sale of more than five
(5%) percent of such securities as disclosed on Page 3 hereof. The
General Partner of Quest for Value Advisors, a registered
investment adviser, and certain persons to whom it has delegated
the authority, have the power on behalf of Quest for Value
Advisors to direct the use of dividends or proceeds of sale of
less than five (5%) percent of these securities. The Board of
Directors, certain officers and other employees of Oppenheimer &
Co., Inc., a registered broker-dealer, have the power to direct
the use of dividends or proceeds of sale of less than five (5%)
percent of these securities.
MIK8-exhibit.A/1
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Page 7 of 10 Pages
EXHIBIT I
Oppenheimer Group, Inc. ("Group") is a holding and service company
owning, directly or indirectly, a variety of companies engaged in
the securities business, including the companies identified on the
exhibit to this Schedule 13G. 86.39% of the issued and
outstanding common stock of Group is owned by Oppenheimer & Co.,
L.P. ("Oppenheimer LP") a Delaware limited partnership formed by
the management of Oppenheimer. The general and limited
partnership interests in Oppenheimer LP are owned by officers and
employees of Oppenheimer & Co., Inc., an indirect wholly-owned
subsidiary of Oppenheimer LP. 16.61% of Group's capital stock has
been issued to certain Oppenheimer LP warrantholders upon
presentation for exercise of warrants issued to various investors
in Oppenheimer LP's 1986 Private Placement.
This Schedule 13G is being filed by Group as a parent holding
company pursuant to the provisions of Rule 13d-1(b)(2) on behalf
of Oppenheimer LP and Group's subsidiary companies and/or certain
investment advisory clients or discretionary accounts of such
subsidiaries named herein to report their collective beneficial
ownership of 25,633,917 Common, class B Stock of the Issuer
aggregating more than five (5%) percent of such 139,980,000 shares
outstanding.
PAGE
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Page 8 of 10 Pages
Management of the affairs of Group's subsidiaries and of certain
investment advisory clients, including decisions respecting
disposition and/or voting of the shares of Common Stock of the
Issuer, resides in the respective officers and directors of such
companies and is not directed by Group or Oppenheimer LP.
Accordingly, the filing of this Schedule 13G by Group is not
intended as, and should not be deemed, an acknowledgement of
beneficial ownership or shared voting or dispositive power by Group,
Oppenheimer LP or any such intermediary company of the shares of
Common Stock of the Issuer owned by such subsidiaries or investment
advisory clients, or by any such subsidiary of shares of Common
Stock of the Issuer owned by any other such subsidiary, such
beneficial ownership or attribution or shared voting or dispositive
power being disclaimed.
MIK8-EXHIBITO.I95
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Page 9 of 10 Pages
EXHIBIT II
The Parent Holding Company is filing on behalf of Oppenheimer
Financial Corp., Oppenheimer Equities, Inc. and Oppenheimer Holdings,
Inc. which would be classified as Item 3(g), Oppenheimer & Co., Inc.
which would be classified as Item 3(a), and Oppenheimer Capital and
Quest for Value Advisors which would be classified as Item 3(e).
MIK8-EX-IIA
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Page 10 of 10 Pages
EXHIBIT III
The undersigned hereby acknowledges and agrees that a report on
Schedule 13G being filed by Oppenheimer Group, Inc. on or about the
date hereof, relating to the common stock, Class B of Freeport
McMoran Copper & Gold, Inc. is filed on behalf of the undersigned.
DATED: October 6, 1995
OPPENHEIMER CAPITAL
By: /s/ Robert I. Kleinberg
Robert I. Kleinberg
Vice President & Secretary of
Oppenheimer Financial Corp.,
The Managing General Partner.
MIK8-FREE-CG.O95
