Aurubis Overhauls Leadership in Wake of $184 Million Raw-Material Scam

Aurubis AG, a major copper producer, has initiated a significant overhaul of its top management, parting ways with Chief Executive Officer Roland Harings, Chief Financial Officer Rainer Verhoeven, and Chief Operating Officer Heiko Arnold. 

This move comes in the aftermath of a substantial raw-material scam that hit the company last year. In August, Aurubis revealed it had fallen victim to a sophisticated fraud scheme orchestrated by suppliers and complicit employees, resulting in a loss of approximately $184 million.

The company’s decision to terminate the contracts of the top executives follows the launch of an independent legal investigation into the criminal scam. The fraud, which involved valuable scrap raw materials, raised concerns about the effectiveness of Aurubis’s security controls. 

Harings is set to leave at the end of September, Verhoeven at the end of June, and Arnold by the end of next month. The company has yet to name replacements.


Information for this story was found via Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Max Resource’s AM South Zone Assays 5.6% Copper Via Panel Sample At Cesar Project

This morning, Max Resource Corp (TSXV: MXR) announced the first set of assays from its...

Tuesday, July 14, 2020, 08:45:19 AM

Copper Shortage Threatens to Derail Global Clean Energy Plans

A critical copper supply shortage threatens to leave global markets facing a substantial deficit by...

Monday, July 28, 2025, 03:42:00 PM

Zambia Shuts Key Copper Trade Route with Congo Amid Growing Crisis

Zambia, Africa’s second-largest copper producer, has taken a dramatic step by closing its borders with...

Monday, August 12, 2024, 10:41:00 AM

Max Resource Encounters 3.3% Copper, 5 g/t Silver Over 15.0 Metres In Latest Sample

Max Resource Corp (TSXV: MXR) continues to make discoveries at its Cesar property in northern...

Tuesday, October 19, 2021, 07:36:18 AM

Nevada Copper: Underground Copper Mine May Begin Commercial Production in 1Q 2021

On December 29, Nevada Copper Corp. (TSX: NCU) announced that it had completed the materials...

Friday, January 1, 2021, 09:00:00 AM