August 7, 2002 Freeport-McMoRan Copper & Gold Inc. 1615 Poydras St. New Orleans, LA 70112 To the Board of Directors and Stockholders of Freeport- McMoRan Copper & Gold Inc.: We are aware of the incorporation by reference in the Registration Statements (Form Nos. 33-63271, 33-63269, 33- 63267, 333-85803 and 333-31584) of Freeport-McMoRan Copper & Gold Inc. of our report dated July 18, 2002 relating to the unaudited condensed interim financial statements of Freeport-McMoRan Copper & Gold Inc. that is included in its Form 10-Q for the quarter ended June 30, 2002. Pursuant to Rule 436(c) of the Securities Act of 1933 our report is not a part of the registration statements prepared or certified by accountants within the meaning of Section 7 or 11 of the Securities Act of 1933. Very truly yours, /s/Ernst & Young LLP