Exhibit 15.1



            July 21, 1998



            Freeport-McMoRan Copper & Gold Inc.
            1615 Poydras St.
            New Orleans, LA  70112


            Gentlemen,

            We are  aware that Freeport-McMoRan  Copper & Gold  Inc. has
            incorporated  by reference  in  its Registration  Statements
            (File Nos. 33-63271, 33-63269, 33-63267, 33-45787, 33-52503,
            33-63376, and 333-02699) its Form 10-Q for the quarter ended
            June 30, 1998, which includes our report dated July 21, 1998
            covering   the  unaudited   interim  financial   information
            contained  therein.    Pursuant  to   Regulation  C  of  the
            Securities  Act  of  1933 (the  Act),  this  report  is  not
            considered a part of the registration statements prepared or
            certified by our  firm or a report prepared  or certified by
            our firm within the meaning of Sections 7 and 11 of the Act.


            Very truly yours,


            /s/ Arthur Andersen LLP