Aurubis AG: Precious metals theft: Verdict announced at Hamburg District Court

Precious metals theft: Verdict announced at Hamburg District Court

• Long prison sentences of up to five years and ten months reflect severity of the crimes
• Aurubis CEO Roland Harings: “Clear and consistent action from the Prosecutor’s Office and judiciary against organized crime”

Hamburg, February 23, 2024 — The verdict was announced in the Hamburg District Court today in the Aurubis precious metals theft trial. Judges sentenced the main defendant to five years and ten months, while the former Aurubis employee indicted received a judgment of three years and six months in prison. All other co-defendants were given penalties of up to four years. Judges also set damages amounting to approx. € 10 million for the time of the offence in question, which occurred in 2020.

Aurubis CEO Roland Harings emphasized: “We welcome this clear and consistent action from the Public Prosecutor’s Office and the judiciary against this case of organized crime. The partly long sentences reflect the severity of the crimes and are sure to act as a deterrent to potential copycats in the future. The police and Public Prosecutor’s Office had our complete support. It was also important to us to identify the underlying structures and shot callers.”

As a company active in multiple stages of precious metal processing, Aurubis is at an ongoing risk of being targeted by criminals. The company has taken these incidents as an opportunity for another thorough review and improvement of its prevention and security standards. To forcefully tackle the dynamic development of organized crime, Aurubis implemented far-reaching immediate measures to significantly boost security once again. The company is also ramping up additional long-term security measures that will reduce the threat of theft and fraud in the future.

Aurubis is building a new security area at its Hamburg plant that will integrate the entire precious metals processing chain. The Precious Metals Refinery project in Hamburg is an important investment in the security in precious metals recovery at Aurubis.

Aurubis reported having been the target of criminal activities in June 2023. The Public Prosecutor’s Office and the Hamburg Police Department investigated the involvement of former and active Aurubis employees, along with employees of contractors working on the Aurubis factory premises.

Aurubis - Metals for Progress

Aurubis AG is a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide. The company processes complex metal concentrates, scrap metals, organic and inorganic metal-bearing recycling materials, and industrial residues into metals of the highest quality. Aurubis produces more than 1 million tons of copper cathodes annually, and from them a variety of products such as wire rod, continuous cast shapes, profiles, and flat rolled products made of copper and copper alloys. Aurubis produces a number of other metals as well, including precious metals, selenium, lead, nickel, tin and zinc. The portfolio also includes additional products such as sulfuric acid and iron silicate.

Sustainability is a fundamental part of the Aurubis strategy. “Aurubis responsibly transforms raw materials into value” — following this maxim, the company integrates sustainable conduct and business activities into the corporate culture. This involves a careful approach to natural resources, responsible social and ecological conduct in everyday business, and sensible, healthy growth.

Aurubis has around 7,200 employees, production sites in Europe and the US, and an extensive distribution network around the world.

Aurubis shares are part of the Prime Standard Segment of the German Stock Exchange and are listed in the MDAX, the Global Challenges Index (GCX), and the STOXX Europe 600.

More information at www.aurubis.com