Filed pursuant to Rule
                                       Registration No. 333-72760

            Prospectus Supplement No. 2 to Prospectus

               Freeport-McMoRan Copper & Gold Inc.
                       FCX Investment Ltd.

              81/4% Convertible Senior Notes due 2006

               Freeport-McMoRan Copper & Gold Inc.
            42,220,280 Shares of Class A Common Stock
            42,220,280 Shares of Class B Common Stock


     This prospectus supplement relates to the resale by the
selling securityholders listed below of 81/4% Convertible Senior
Notes due 2006 of Freeport-McMoRan Copper & Gold Inc. and its
wholly owned subsidiary, FCX Investment Ltd., and the shares of
class A or class B common stock of Freeport-McMoRan Copper & Gold
Inc. issuable upon the conversion of the notes. You should read
this prospectus supplement together with the prospectus dated
March 12, 2002, and the prospectus supplement No. 1 dated April
15, 2002, which are to be delivered with this prospectus

     The table below (1) sets forth additional and updated
information with respect to the principal amount of notes owned
by each selling securityholder, and the shares of common stock
into which such notes are convertible, that may be offered under
the prospectus and the prospectus supplements by the selling
securityholders; and (2) supplements and, to the extent
inconsistent with, amends both the table appearing in the section
entitled "Selling Securityholders" beginning on page 43 of the
prospectus and the table set forth in prospectus supplement No.
1. To the extent a selling securityholder is listed both in the
table below and in either or both the table appearing in the
prospectus and the table appearing in prospectus supplement No.
1, the information set forth below regarding that selling
securityholder supercedes the information set forth in either or
both the prospectus and the prospectus supplement No. 1.

     The information 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 notes or common
stock since the date on which they provided the information
regarding their notes or 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 notes or the common stock to be offered by them, we cannot
estimate the amount of any sales.

                            Principal                 Number of Shares
                         Amount of Notes  Percentage  of Common Stock
 Name of Selling            Owned and     of Notes     That May Be
 Securityholder              Offered     Outstanding    Sold (1)
-------------------------  -----------    ---------   -----------
American International     $     5,000          *             349
  Group- VC I Value Fund
American Samoa Government       42,000          *           2,937
BP Amoco PLC Master Trust    1,552,000          *         108,531
EQ/Putnam Growth & Income      274,000          *          19,160
Estate of James Campbell,      262,000          *          18,321
Hotel Union & Hotel            451,000          *          31,538
  Industry of Hawaii Pension
James Campbell Corporation,    351,000          *          24,545
Jefferies and Company Inc.      10,000          *             699
Lincoln National Global        245,000          *          17,132
  Asset Allocation Fund, Inc.
Marsh & McLennan Companies,    150,000          *          10,489
  Inc. U.S. Retirement Plan
Merrill Lynch Pierce Fenner 11,312,000        1.87%       791,048
  & Smith Inc.
Pacific Life Funds-Equity       10,000          *             699
Pacific Select Funds-Equity     25,000          *           1,748
Penn Series Funds, Inc. -      240,000          *          16,783
  Large Cap Value Fund
Putnam Asset Allocation      2,010,000          *         140,559
  Funds-Balanced Portfolio
Putnam Asset Allocation      1,350,000          *          94,405
Putnam Asset Allocation        180,000          *          12,587
  Funds-Growth Portfolio
Putnam Convertible Income-  11,700,000        1.94%       818,181
  Growth Trust
Putnam Convertible             435,000          *          30,419
  Opportunities and Income
Putnam Equity Income Fund    1,700,000          *         118,881
Putnam Fund for Growth and  14,298,000        2.37%       999,860
  Income, The
Putnam Global Natural        3,300,000          *         230,769
  Resources Fund
Putnam Growth and Income       105,000          *           7,342
  (U.S. Value Equity) Fund
Putnam Large Cap Value          40,000          *           2,797
Putnam Variable Trust-         495,000          *          34,615
  Putnam Global Asset
  Allocation Fund
Putnam Variable Trust-       3,610,000          *         252,447
  Putnam VT Growth & Income
Quattro Fund Ltd.            2,500,000          *         174,825
Viacom Inc. Pension Plan        45,000          *           3,146
  Master Trust
Zurich Institutional         2,227,000          *         155,734
  Benchmarks Master Fund Ltd.
Zurich Institutional         2,500,000          *         174,825
Benchmarks Master Fund c/o
  Quatro Fund


*  Less than 1%

(1)  The notes are convertible into shares of class A or class B
     common stock at a conversion price (subject to adjustment)
     of $14.30 per share.


     Investing in the notes involves significant risks that are
described in the "Risk Factors" section beginning on page 10 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


    The date of this Prospectus Supplement is April 29, 2002.