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 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 February 26, 1997:
NEW ORLEANS, LA., February 26, 1997 -- Freeport-McMoRan Copper &
Gold Inc. (FCX) today reaffirmed its commitment to making the
Busang mine development a world-class project in every respect.
Said James R. Moffett, Chairman and Chief Executive Officer
of FCX: "We will use our best efforts as 15-percent interest-
holder and the operator, working with our partners and the
Government of Indonesia, to ensure that the environmental impacts
of the Busang mine are minimized and that the positive social and
economic impacts are maximized, both for the local population and
for the people of Indonesia as a whole. That is the essence of
our policy wherever we operate."
Responding to a press statement on the Busang project issued
today by a group of nongovernmental organizations (NGOs), Mr.
Moffett said that, "As FCX's representatives are now beginning
due diligence and planning initial site visits to the Busang
project, it is much too early to discuss specific issues
relating to the project". However, he said, "We share their
concern about the local people and have demonstrated that by our
actions in Irian Jaya."
In Irian Jaya, FCX's Indonesian affiliate, PT Freeport
Indonesia (PT-FI) has constructed hospitals, schools, churches,
housing and community facilities and instituted a comprehensive
series of health and educational programs, as well as training
initiatives to more involve the Irianese in the economic
development taking place around them. PT-FI recently committed to
provide one percent of its annual revenues over the next 10 years
to continue these initiatives through the Government of
Indonesia's Integrated Timika Development Plan, which is based
upon the expressed desires of local leaders.
FCX pointed out that the "rumors of environmental damage and
complicity in human rights abuses" cited by the NGO group in
their news release have already been dispelled by independent
investigations and by the results of independent social and
environmental audits of PT-FI's operations in Irian Jaya, all of
which are a matter of public record. FCX said that the final
report of the environmental audit and an interim report of the
social cultural audit concluded that PT-FI's environmental and
social programs were sound. The audits also included a number of
recommendations for improvements, which PTFI has implemented or
is now in the process of implementing.
Additionally, FCX pointed to the public record of five
separate investigations of Irian Jaya human rights violations --
by the National Human Rights Commission of Indonesia (KOMNAS
HAM), the Catholic Bishop of Jayapura, the U.S. and Australian
Embassies and the International Committee of the Red Cross --
none of which found any evidence of wrongdoing by any employee of
PT-FI or FCX. The U.S. Embassy issued a letter stating that its
representatives "found no credible evidence substantiating
charges of human rights abuses by Freeport personnel." And H.F.M.
Munninghoff, the Catholic Bishop of Jayapura, said "My report is
not a report about Freeport and does not contain accusations
regarding Freeport." He also said "Freeport is not at all
involved in these violations of human rights."
FCX added that it is on record as strongly condemning any
human rights violations.
FCX said it has maintained a dialogue with responsible NGOs
on issues of environmental and social responsibility in Irian
Jaya and plans on continuing those discussions as it develops
plans for the Busang project.
"We intend to work hand-in-hand with the local people, the
Government of Indonesia and our partners to develop positive
solutions that benefit everyone," said Mr. Moffett.
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
