Europe’s largest copper producer, Aurubis AG, has announced that it was the victim of a major theft that resulted in a €185 million ($198 million) metals shortage. The company suspects that insiders may have played a role in the theft, as inflated invoices for scrap metal and other materials were paid based on manipulated samples. Aurubis has reassured investors that it did not participate in any illicit activities. The identity of the criminals involved remains unknown, and the matter is still under investigation by Germany’s State Office of Criminal Investigation. This theft is part of a series of high-profile thefts that have raised concerns about the security of shipping infrastructure in the commodities market.
https://fortune.com/2023/09/20/europe-largest-copper-producer-aurubis-victim-metal-heist-worth-198-million-insiders-involved/