Filed pursuant to Rule 424(b)(3)






Filed pursuant to Rule 424(b)(3)

Registration No. 333-114430


Prospectus Supplement No. 1 to Prospectus


Freeport-McMoRan Copper & Gold Inc.


1,100,000 Shares


5½% Convertible Perpetual Preferred Stock and the

Class B Common Stock Issuable Upon Conversion of the

5½% Convertible Perpetual Preferred Stock


____________________


This prospectus supplement relates to the resale by the selling securityholders listed below of 5½% Convertible Perpetual Preferred Stock of Freeport-McMoRan Copper & Gold Inc., and the shares of class B common stock of Freeport-McMoRan Copper & Gold Inc. issuable upon the conversion of the stock.  You should read this prospectus supplement together with the prospectus dated May 3, 2004, which is to be delivered with this prospectus supplement.

The table below (1) sets forth additional and updated information with respect to the number of shares of the preferred stock owned by each selling securityholder, and the shares of common stock into which such stock is convertible, that may be offered under the prospectus by the selling securityholders, and (2) supplements and, to the extent inconsistent with, amends the table appearing in the section entitled “Selling Securityholders” beginning on page 35 of the prospectus.  To the extent a selling securityholder is listed both in the table below and in the table appearing in the prospectus, the information set forth below regarding that selling securityholder supercedes the information set forth in the prospectus.

The number of shares of our class B common stock shown in the table below assumes conversion of all of the shares of the preferred stock held by such holder at the initial conversion rate of 18.8019 shares of common stock per share of the preferred stock.  This conversion rate is subject to certain adjustments as described under “Description of the Preferred Stock – Conversion Rights” in the prospectus.  Accordingly, the shares of class B common stock issuable upon conversion of the preferred stock may increase or decrease from time to time.  Under the terms of the certificate of designations, fractional shares will not be issued upon conversion of the preferred stock.  Cash will be paid in lieu of fractional shares, if any.  As of May 31, 2004, we had 173,762,153 shares of our class B common stock outstanding.

The information in the table below is based on information provided by or on behalf of the selling securityholders.  The selling securityholders identified below may have sold, transferred or otherwise disposed of all or a portion of their stock or class B common stock since the date on which they provided the information regarding their stock or class B common stock in transactions exempt from the registration requirements of the Securities Act of 1933.  Because the selling securityholders may offer all or some portion of the preferred stock or the class B common stock to be offered by them, we cannot estimate the amount of any sales.

Name

Number of Shares of Preferred Stock Beneficially Owned That May Be Sold

Percentage of Preferred Stock Outstanding*

Number of Shares of Underlying Common Stock That May Be Sold

Akela Capital Master Fund, Ltd.

13,000

1.18%

691

Argent Classic Convertible Arbitrage Fund (Bermuda) Ltd.

 

7,090

 

**

 

377

Argent Classic Convertible Arbitrage Fund II, L. P.

420

**

22

Argent Classic Convertible Arbitrage Fund L. P.

1,820

**

96

Argent LowLev Convertible Arbitrage Fund II, LLC

130

**

6

Argent LowLev Convertible Arbitrage Fund LLC

870

**

46

Argent LowLev Convertible Arbitrage Fund Ltd.

4,710

**

250

Bancroft Convertible Fund, Inc.

1,000

**

53

BMO Nesbitt Burns Inc.

2,000

**

106

BP Amoco PLC Master Trust

827

**

43

Chrysler Corporation Master Retirement Trust

11,500

1.05%

611

Class C Trading Company, Ltd.

420

**

22

CQS Convertible and Quantitative Strategies Master Fund Limited

 

62,000

 

5.64%

 

3,297

Credit Suisse First Boston Europe LTD

140

**

7

Custom Investments PCC, Ltd.

100

**

5

Ellsworth Convertible Growth and Income Fund, Inc.

 

1,000

 

**

 

53

F.M. Kirby Foundation, Inc.

2,000

**

106

Grace Convertible Arbitrage Fund, LTD

6,000

**

319

HFR CA Global Select Master Trust Account

170

**

9

Hotel Union & Hotel Industry of Hawaii Pension Plan

 

216

 

**

 

11

International Truck & Engine Corporation Non-Contributory Retirement Plan Trust

 

1,500

 

**

 

79

International Truck & Engine Corporation Retiree Health Benefit Trust

 

600

 

**

 

31

International Truck & Engine Corporation Retirement Plan for Salaried Employees Trust

 

1,200

 

**

 

63

JMG Capital Partners, L.P.

15,250

1.39%

811

JMG Triton Offshore Fund, LTD.

15,250

1.39%

811

Lyxor Master Fund Ref: Argent/LowLev CB c/o Argent

 

830

 

**

 

44

Microsoft Corporation

3,100

**

164

Motion Picture Industry Health Plan - Active Member Fund

 

600

 

**

 

31

Motion Picture Industry Health Plan - Retiree Member Fund

 

500

 

**

 

26

Newport Alternative Income Fund

925

**

49

OCM Convertible Trust

5,700

**

303

OCM Global Convertible Securities Fund

400

**

21

Putnam Convertible Income-Growth Trust

7,985

**

424

Putnam High Income Bond Fund

625

**

33

Putnam High Income Opportunities Trust

390

**

20

Qwest Occupational Health Trust

500

**

26

Silver Convertible Arbitrage Fund, LDC

400

**

21

Silvercreek II Limited

2,495

**

132

Silvercreek Limited Partnership

4,080

**

216

SSI Blended Market Neutral L.P.

429

**

22

SSI Hedged Convertible Market Neutral L.P.

569

**

30

State Employees' Retirement Fund of the State of Delaware

 

3,300

 

**

 

175

Teachers Insurance and Annuity Association of America

 

12,000

 

1.09%

 

638

The St. Paul Travelers Companies, Inc. - Commercial  Lines

 

600

 

**

 

31

The St. Paul Travelers Companies, Inc. - Personal Lines

 

400

 

**

 

21

UnumProvident Corporation

1,100

**

58

Vanguard Convertible Securities Fund, Inc.

35,400

3.22%

1,882

Viacom Inc. Pension Plan Master Trust

23

**

1

Xavex Convertible Arbitrage 10 Fund

670

**

35

Xavex Convertible Arbitrage 2 Fund

260

**

13

Zurich Institutional Benchmarks Master Fund Ltd.

936

**

49

     
     

Total

233,430

21.22%

12,390


*

Based on 1,100,000 shares of the preferred stock outstanding.

**

Less than 1%.

____________________


Investing in the preferred stock involves significant risks that are described in the “Risk Factors” section beginning on page 6 of the prospectus.

____________________


Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities or passed on the adequacy or accuracy of this prospectus.  Any representation to the contrary is a criminal offense.

____________________


The date of this prospectus supplement is June 4, 2004.