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):
September 22, 1998
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 September 22, 1998:
New Orleans, LA, September 22, 1998 - Freeport-McMoRan
Copper & Gold Inc. (FCX) announced today that, since its Board of
Directors initially authorized its open market share purchase
program in 1995 following its restructuring, FCX has purchased
47.6 million shares in total of its Class A and Class B common
stock. These purchases represent a 22 percent reduction in the
214.5 million common shares outstanding during the period,
including shares issued for convertible securities and for stock
options.
Purchases during the third quarter of 1998 to date have
totaled 13.0 million shares for $162.4 million, approximately
$12.52 per share. Third quarter purchases include 7.6 million
shares purchased under the 20 million share purchase
authorization announced August 27, 1998. Approximately 12.4
million shares remain authorized for purchase.
As of September 21, 1998, FCX had outstanding 66.4 million
shares of Class A common stock and 100.5 million shares of Class
B common stock.
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\ C. Donald Whitmire
------------------------------
C. Donald Whitmire
Controller-Financial Reporting
(authorized signatory and
Principal Accounting Officer)
Date: September 25, 1998
