According to SMM, Europe's largest copper producer Aurubis (NAFG.DE) lowered its core profit in the second quarter of last year due to fraud and theft against the group. Aurubis CEO Roland Harings said during the earnings call that the operating results (profit before tax) for that quarter were negative €52 million (negative US$55.87 million). Aurubis initially reported quarterly results for the period ending March 2023 of €166 million.