Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividend on Common Stock

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) today declared a cash
dividend of $0.3125 per share payable on May 1, 2012 to holders of
record as of April 13, 2012 for its common stock.

As previously announced in February 2012, FCX′s Board of Directors
authorized an increase in the annual cash dividend on its common stock
from $1.00 per share to $1.25 per share, payable quarterly at a rate of
$0.3125 per share. The declaration and payment of dividends is at the
discretion of FCX′s Board of Directors and will depend on FCX′s
financial results, cash requirements, future prospects, and other
factors deemed relevant by the Board.

FCX is a leading international mining company with headquarters in
Phoenix, Arizona. FCX operates large, long-lived, geographically diverse
assets with significant proven and probable reserves of copper, gold and
molybdenum. FCX has a dynamic portfolio of operating, expansion and
growth projects in the copper industry and is the world′s largest
producer of molybdenum.

The company′s portfolio of assets includes the Grasberg minerals
district, the world′s largest copper and gold mine in terms of
recoverable reserves; significant mining operations in the Americas,
including the large scale Morenci and Safford minerals districts in
North America and the Cerro Verde and El Abra operations in South
America; and the Tenke Fungurume minerals district in the Democratic
Republic of Congo. Additional information about FCX is available on
FCX′s website at www.fcx.com.

Freeport-McMoRan Copper & Gold Inc.

David P. Joint,
504-582-4203