FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * MOFFETT JAMES R   2. Issuer Name and Ticker or Trading Symbol FREEPORT MCMORAN COPPER & GOLD INC [FCX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman of the Board (Last) (First) (Middle) 1615 POYDRAS STREET 3. Date of Earliest Transaction (Month/Day/Year) 10/26/2004 (Street) NEW ORLEANS, LA 70112 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class B Common Stock 10/26/2004   F   270,839 D $ 36.68 884,184 I By Limited Liability Company Class B Common Stock 10/26/2004   M   522,000 A $ 19.0313 1,406,184 D (1)   Class B Common Stock 10/26/2004   F   78,488 D $ 36.68 1,327,696 D (1)   Class B Common Stock 10/26/2004   J(2) V 443,512 D $ 0 1,327,696 I By Limited Liability Company Class B Common Stock               21,113 (3) I By 401(k) plan Class B Common Stock               7,552 (4) I By Spouse

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Options (Right to Buy) (5)

$ 19.0313

10/26/2004

M

522,000

03/26/1998

03/26/2006

Class B Common Stock

522,000

$ 0

0

D

Forward Sale Contract (right/obligation to sell)

(6)

10/26/2004

J(6)(7)

1

(6)

(6)(7)

Class B Common Stock

300,000

(6) (7)

1

I

By Limited Liability Company

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MOFFETT JAMES R 1615 POYDRAS STREET NEW ORLEANS, LA 70112	X		Chairman of the Board

Signatures

Cynthia M. Molyneux, on behalf of James R. Moffett pursuant to a power of attorney		10/28/2004
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Amount includes 884,184 shares indirectly owned by the Reporting Person through Mofett Holdings, L.L.C., of which the Reporting Person is a member.
(2)	Transfer to Moffett Holdings, L.L.C.
(3)	Based on plan statement as of September 30, 2004.
(4)	The Reporting Person disclaims beneficial ownership of these shares.
(5)	Options with limited stock appreciation rights.
(6)	On October 26, 2004, Moffett Holdings, L.L.C. (the "LLC") entered into a forward sale contract with a securities broker pursuant to which the LLC agreed to sell 300,000 shares of Class B Common Stock to the securities broker on October 26, 2009 (the "Maturity Date") with the sale price to be determined and paid on the Maturity Date as follows: if the closing sale price of a share of Class B Common Stock on the Maturity Date is $29.1920 or less, the sale price will be $29.1920 per share; if the closing sale price of a share of Class B Common Stock on the Maturity Date is $45.1746 or more, the sale price will be $45.1746 per share; if the closing sale price of a share of Class B Common Stock on the Maturity Date is between $29.1920 and $45.1746, the per share sale price will be the closing sale price on the Maturity Date. The LLC may instead elect to settle the contract in cash and retain ownership of the 300,000 shares.
(7)	The LLC has pledged 300,000 shares of the Class B Common Stock to secure its obligations under the contract. The LLC will continue to hold beneficial ownership and voting and dividend rights with respect to the shares for the term of the contract.

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