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Top related persons:
Aurubis - 2 London CNN — - 1 Germany’s Aurubis - 1 “ - 1 Nadine Schmidt - 1 Trafigura - 1 Liam Proud - 1 Streisand Neto - 1
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Hamburg Europe United States European
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London CNN - 1 CNN - 1 Office - 1 State - 1 Criminal Investigation - 1 International Energy Agency - 1 McKinsey - 1 Thomson - 1

Search resuls for: "Germany’s Aurubis"


2 mentions found


☆ Aurubis: Thieves stole nearly $200 million from Europe's largest copper producer
  + stars: | 2023-09-19 | by ( Olesya Dmitracova | ) edition.cnn.com   time to read: +2 min
London CNN —Fraudsters have robbed Europe’s largest copper producer of €185 million ($198 million) worth of the metal, possibly with the help of insiders, the company said Tuesday. The inventory had established the scale of thefts the company disclosed on August 31 and in June, an Aurubis spokesperson told CNN. The losses forced Aurubis to slash its pretax profit forecast for the current fiscal year by about €170 million ($182 million). Whether the same criminals are behind these past cases and the theft disclosed in August is the subject of ongoing investigations, the Aurubis spokesperson said Tuesday. Aurubis produces about 1.1 million tonnes (1.2 million tons) of copper “cathodes,” or square sheets, per year at plants in Europe and the United States.
Persons: London CNN —, Germany’s Aurubis, Aurubis, “, Nadine Schmidt Organizations: London CNN, CNN, Office, State, Criminal Investigation Locations: Hamburg, Europe, United States
☆ Missing metals hit green economy pressure point
  + stars: | 2023-09-01 | by ( Lisa Jucca | ) www.reuters.com   time to read: +3 min
On Thursday, copper producer Aurubis said it had discovered large discrepancies in inventory levels at its Hamburg recycling centre, which strips out used copper and precious metals from discarded computer circuit boards. The 3 billion euro company’s initial assessment of the incident, which comes after a separate theft case in June, suggests missing metals may lead to a hit of at least 100 million euros. That’s about one-fifth of its previously projected annual pre-tax profit of 450 million euros to 550 million euros for the financial year ending in September. And it will expand to roughly 30.1 million tons by 2031, according to McKinsey. But the consultancy reckons global demand will reach 36.6 million tons at the start of the next decade, leaving a gap of more than 6 million tons per year.
Persons: Trafigura, Aurubis, Liam Proud, Streisand Neto, Oliver Taslic Organizations: Reuters, International Energy Agency, McKinsey, Thomson Locations: Hamburg, European
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