Aurubis, Europe's biggest copper producer and one of the biggest recyclers of copper in the world, confirmed its copper with a value of around US$200 million was stolen from its inventories during the ongoing investigation.

Aurubis said in June that German police were investigating current and past employees and third-party employees. In August, the company said it suspected more criminal activity at its plant as there are problems with inventory, and now it puts a price tag on the stolen goods.

Aurubis pulled down its 2023 earnings forecast to EUR 300 million from an earlier expectation of EUR 450-500 million. The company's revenues have also dropped by 9% year on year.