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Aurubis AG (formerly Norddeutsche Affinerie AG) is a global supplier of non-ferrous metals and one of the world's largest copper recyclers. The company processes complex metal concentrates, scrap, organic and inorganic metal-bearing recycling materials, and industrial residues into metals. Aurubis produces more than 1 million tons of copper cathodes per year, and from these, a variety of products, such as wire rods, continuous cast shapes, profiles, and flat rolled products in copper and copper alloys. Aurubis also produces a range of other metals, including precious metals such as selenium, lead, nickel, tin, and zinc. The portfolio includes other products, such as sulfuric acid and iron silicate.
 | |
| Company type | Aktiengesellschaft |
|---|---|
| FWB: NDA1 | |
| Industry | Metals and Mining |
| Predecessor | Norddeutsche Affinerie, Cumerio |
| Founded | 1866 (as Norddeutsche Affinerie AG until 2009) |
| Headquarters | , |
Number of locations | Germany, Belgium, Bulgaria, United States, Italy, Finland |
Area served | Europe, USA, Asia |
Key people | Roland Harings (CEO), Prof. Dr. Fritz Vahrenholt (Chairman of the supervisory board) |
| Products | Copper extraction, recycling of copper and precious metals, manufactured copper products |
| Revenue | € 18.52 billion (2021/2022)[1] |
Number of employees | 6,913 (September 30, 2022) |
| Website | Aurubis.com |
Following Norddeutsche Affinerie AG's acquisition of the Belgian copper producer Cumerio on February 18, 2008, the company was renamed Aurubis on April 1, 2009.
Aurubis has about 6,900 employees, European and USA production sites, and a worldwide sales network.
Aurubis shares are listed in the Prime Standard Segment of the German Stock Exchange, the MDAX, the Global Challenges Index (GCX), and the STOXX Europe 600.
History
editAurubis names the company ‘Beit, Marcus und Salomon Gold- und Silberscheider’ (‘Beit, Marcus und Salomon Gold and Silver Parting’) in the Elbstrasse in Hamburg as its predecessor. It was first mentioned in the Hamburg merchant almanac in 1783, but Marcus Salomon Beit was already permitted to build a silver parting and smelting furnace in Hamburg in 1770. As time went on, the company did not only smelt coins and precious metal alloys but also silver ores, so a shift of production towards ore smelting occurred. After 1830, Hamburg ship owners started to ship copper ore on the emigration ships when they returned to Germany from North and South America and sometimes Australia. In 1846, the ‘Elbkupferwerk’ was founded on the river Elbe's island Steinwerder in cooperation with Johann Cesar Godeffroy and Siegmund Robinow.
The economic recovery led to the foundation of the ‘Elbhütten Affinerie- und Handelsgesellschaft’ in 1856, which merged the Elbkupferwerk with the Beit Gold and Silver Parting company. Delivery and smelting of copper and silver ores were processed in Steinwerder; the Elbstrasse site oversaw the processing by ‘affination’ in smelters and the sale of the products. The annual copper production amounted to 3,000 tonnes. On 28 April 1866, Norddeutsche Affinerie was founded as a stock corporation with the participation of Norddeutsche Bank and Allgemeine Deutsche Kreditanstalt.[2]
Copper has been produced at the ‘Peute,’ an industrial area of the Hamburg district Veddel, since 1910. The production plants occupy large parts of the industrial area.
Following the Nazi seizure of power in 1933, the Jewish members of the management board Richard Merton, Julius Levisohn, and Heinrich Wohlwill were forced to step down.[3]: 39 The Norddeutsche Affinerie profited from increased public investment and expanded its business significantly. By 1939, the company had provided nearly half the German copper demand and employed 1450 people.[3]: 37 In the aftermath of the November pogroms, the company took part in processing gold that was extorted from Jewish owners.[3]: 39–40 In 1939, Wilhelm Avieny of Metallgesellschaft and Hermann Schlosser, CEO of Degussa, were appointed to leading positions on the supervisory board of Norddeutsche Affinerie. Both were early supporters of the NSDAP and linked to Nazi politics due to the importance of their respective companies.[3]: 39 During World War II, Norddeutsche Affinerie was an essential supplier to the munitions industry and used forced labor to maintain production. At its peak in July 1944, 806 out of 1900 employees were forced laborers.[3]: 41
Norddeutsche Affinerie took over 91% of the Belgium copper producer Cumerio on 18 February 2008 after a lengthy dispute with the Austrian A-TEC Industries. A squeeze-out completed the acquisition of Cumerio on 15 April 2008.[4]
In May 2023, a serious industrial accident occurred at Aurubis's primary copper smelter plant in Hamburg. Following a nitrogen leak during regular maintenance, three fatalities were reported.[5]
Activities
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The core business is the production of copper cathodes from copper concentrates, scrap, and recycled materials (copper refining). These include continuous cast wire rods, shaped rods, rolled products and strips, and specialty wire made of copper and copper alloys. Aurubis also processes precious metals. The Group produces and markets several elements of copper production as specialty products, including, but not limited to, sulfuric acid and iron silicate.
Aurubis customers include the copper semis industry, the electrical engineering, electronics, and chemical industries, as well as renewable energy suppliers. The construction and automotive sectors are also represented.
The company was listed in the encyclopedia of German world market leaders in 2010.
Shareholder structure
editAurubis shares belong to the Prime Standard segment of the German Stock Exchange (Deutsche Börse) and are included in the MDAX, STOXX Europe 600, and Global Challenges Index (GCX). With a share of 29.99 % of the Company's capital stock, Salzgitter AG is Aurubis' anchor investor. As of 2024, Dirk Roßmann's family holds more than 5%, the remaining of the voting shares are considered free float. Shares of all shareholders subject to reporting requirements see table:
| Share
(in percent) |
Shareholders[6] |
|---|---|
| 29,99[7] | Salzgitter AG |
| 3,17 | BlackRock Inc. |
| 4,4 | Dimension Holdings Inc. |
Status: October 4, 2022
Environmental protection
editEnvironmental and climate protection are among the key targets of Aurubis' corporate strategy and are outlined in the company guidelines. State-of-the-art plant technologies that set international benchmarks are used in environmental protection. The expansion of recycling activities in the Group helps to close material cycles in an environmentally friendly way and is thus an important contribution to sustainable development. Beyond compliance with legal requirements, voluntary commitments like the chemical industry's "Responsible Care" initiative are important instruments for continuously improving environmental and health protection performance at Aurubis. A uniform environmental standard was created and implemented for the Aurubis Group. The environmental management system at all of the main sites in the Aurubis Group is ISO 14001 certified. The Hamburg and Lünen sites, as well as Schwermetall Halbzeugwerk, are EMAS certified.[8]
In the past 30 years, a total of €359 million has been invested in environmental protection measures at the Hamburg site. Five agreements on improving environmental protection and increasing energy efficiency have been concluded with the Hamburg State Authority of Urban Development and Environment and successfully implemented. In February 2011, a sixth emission reduction agreement was concluded between Aurubis and the city of Hamburg. This sixth agreement comprises environmental protection measures with a capital expenditure totaling about €20 million and is in effect until 2016.
Aurubis, formerly Norddeutsche Affinerie, is considered to be the biggest heavy metal emitter in northern Germany. In the early 1980s, arsenic and cadmium, in particular, were shown to be present in the wastewater discharge and in the stacks’ exhaust air.[9] In 1985, an arsenic scandal occurred in Hamburg when heavy metals accumulated in the soil in eastern Hamburg, especially in agricultural areas. The scandal became a scandal because the Hamburg authorities tried to conceal it. The environmental protection group Physik-Geowissenschaften took water and soil samples showing that arsenic, cadmium, copper, zinc, and other heavy metals had accumulated in the harbor mud in front of the plant and were still entering the river Elbe in 2005 through cracks in the embankment.
In August 2020, Aurubis signed a contract with the Norwegian mining company Nussir ASA. The company plans to mine about 2 million tons of ore annually over the next 15 years. Several environmental and human rights organizations have criticized the project.[10] In the Society for Threatened Peoples (STP) statement, the problem is expressed as follows: "The Sami, who keep reindeer herds in the region of the future Nussir mine, are against new copper mining projects. From their point of view, the plans are to be seen as a violation of their right to free, prior, informed consent. Thus, Aurubis should not fulfill its copper contract with Nussir without the express consent of the Sami reindeer herders. Nils Utsi, chairman of the Repparfjord reindeer herders: The mine is in our animals' delivery room. If it is put into operation, we will lose our herds."[11] In August 2021, Aurubis terminated the contract due to these issues.[12]
References
edit- ^ "Archived copy". www.aurubis.com. Archived from the original on 31 March 2016. Retrieved 13 January 2022.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "History of the company". Archived from the original on February 1, 2012. Retrieved March 23, 2012.
- ^ a b c d e Aurubis AG (2016). Cu 150.0 : Tradition - Expertise - Innovation ; 1866-2016 : the history of the Copper Group : 150 years of the future : Aurubis (PDF). München: August Dreesbach Verlag. ISBN 978-3-944334-71-4. OCLC 953968198.
- ^ "Squeeze-out: Cumerio verlässt die Börse". Manager Magazin. 2008-04-15. Retrieved 2015-08-02.
- ^ Taylor, Brian. "Aurubis incident in Germany causes three fatalities". Retrieved 10 May 2023.
- ^ "BaFin - bedeutende Stimmrechtsanteile nach § 39 des Wertpapierhandelsgesetzes (WpHG)". Retrieved 2022-07-17.
- ^ "Geschäftsbericht 2021 – Konzernlagebericht und Lagebericht der Salzgitter AG" (PDF). p. 48. Retrieved 2022-07-17.
- ^ [1][dead link]
- ^ "Aktie unter der Lupe: Die Norddeutsche Affinerie hat guten Draht zu Analysten" (in German). Handelsblatt.com. 2001-08-22. Retrieved 2015-08-02.
- ^ "Countermotions for the (virtual) Annual General Meeting on February 11, 2021 in Hamburg" (PDF). www.aurubis.com. Archived from the original (PDF) on 2021-05-02.
- ^ "Annual general meeting of copper group Aurubis".
- ^ "Aurubis and Nussir terminate memorandum of understanding regarding future concentrate supply". www.aurubis.com.
- "Aurubis Management". www.aurubis.com. Archived from the original on 2017-01-06. Retrieved 2017-02-28.
External links
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Media related to Aurubis at Wikimedia Commons
