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19 Sep

Aurubis reports €185m hit after metal theft

Europe’s largest copper producer Aurubis announced Tuesday it will increase security at its operations after an estimated €185 million ($197.66m) financial hit due to theft and fraud cases, Kallanish reports. The Germany-based company said an inventory completed on 31 August found it had paid inflated invoices for shipments of scrap metal and other inputs based on fraudulent samples. “It was apparently possible to manipulate these input materials…
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