Heraeus Accused of Long-Term Systematic Underreporting of Precious Metal Content, Sets Aside €170 Million

【Heraeus Accused of Long-Term Systematic Underreporting of Precious Metal Content, Sets Aside €170 Million】

⑴ An independent investigation has found that German precious metals refiner Heraeus systematically underreported the precious metal content in materials processed for clients over a long period, further expanding the crisis facing one of the world's largest platinum refiners.

⑵ The law firm conducting the investigation described the practice as "highly questionable from a legal standpoint."

⑶ The investigation alleges that for over a decade, Heraeus globally downgraded test results for 450 clients, resulting in clients receiving less cash or refined metal after processing was completed.

⑷ Heraeus has set aside €170 million to address potential repercussions from the investigation's findings.