US says billionaire Gertler’s royalties must go to Congo for sanctions deal
A senior White House adviser said lifting that punishment is necessary to open up the assets to new investments that support US interests.
Aurubis, Europe’s largest copper producer, on Friday cut its annual targets, citing factors such as a slower economy and maintenance shutdowns, sending its shares sharply lower. Aurubis now expects operating pretax earnings in its fiscal 2018/19 to decrease by more than 15% compared to the previous year. In February, Aurubis had forecast full-year operating earnings before tax to be “moderately lower”.
In the first six months, pretax earnings dropped to 153 million euros, from 233 million in the year-earlier period.
Shares slumped 10.2% on the news.
(Reporting by Arno Schuetze Editing by Michelle Martin)