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Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that went public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500. Snowflake's data lake stores unstructured and semistructured data that can then be used in analytics to create insights stored in its data warehouse. Snowflake's data sharing capability allows enterprises to buy and ingest data, while its data solutions can be hosted on various public clouds.
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2023, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. About 75% of 2023 revenue was from copper, with a further 15% from gold and about 10% from molybdenum. It had about 25 years of copper reserves at end December 2023. we expect it to sell similar amounts of copper midcycle in 2028, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.