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Amerigo Resources Ltd T.ARG

Alternate Symbol(s):  ARREF

Metals & Mining Industrial Metals & Minerals
Amerigo Resources Ltd. is a Canada-based copper producer. The Company owns a 100% interest in Minera Valle Central S.A. (MVC), a producer of copper concentrates. MVC, located in Chile, has a long-term contract with the El Teniente Division (DET) of Corporacion Nacional del Cobre de Chile (Codelco) to process fresh and historic tailings from El Teniente. The Company operates in one segment, the production of copper concentrates under a tolling agreement with DET.


TSX:ARG - Post by User

Amerigo Resources Ltd > massive copper theft Sends Shockwaves Through Metal Market..
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Post by downwithdotcom1on Sep 01, 2023 1:07pm
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Post# 35616289

massive copper theft Sends Shockwaves Through Metal Market..

massive copper theft Sends Shockwaves Through Metal Market.. INTERESTING STORY ABOUT A COPPER DEALER OUT OF EUROPE FOR THOSE INTERESTED...DWDC
  • Aurubis discovered discrepancies in its metal inventories, suspecting manipulation by suppliers and internal employees, leading to a share drop of as much as 17%.
  • The company expects that losses due to the theft could be in the "low, three-digit-million-euro range," causing it to abandon its previous operating earnings forecast for the fiscal year.
"What we currently know is that some of our recycling suppliers appear to have manipulated details about the raw materials they deliver to us, and they have been working with employees in our sampling department to hide the shortfall from us"
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