Anode furnace

A furnace used in pyrometallurgical copper refining

Anode slimes

A product of the copper tankhouse which settles on the bottom of a tankhouse cell. Contains precious and non-soluble components of the anode, including silver, gold, selenium and lead in particular


The end product of pyrometallurgical copper production. Positive polarized electrodes of a tankhouse cell. Copper content about 99.5 %


Blister copper

Unrefined porous copper. During solidification, dissolved gases form small blisters in the copper. Blister copper is also purchased as a raw material


Capital employed

Capital employed is the sum of equity, provisions for pension ­liabilities and financial liabilities, less cash and cash equivalents.

Cathode premium

Surcharge for high-quality cathodes (Grade A) and premium for cathode delivery paid by the customer; reflects scarcity in structurally undersupplied markets 


The Carbon Disclosure Project (CDP) is a non-profit organization with the objective of encouraging companies and towns to publish their environmental data. Once a year, the CDP collects data and information about CO2 emissions, climate risks and reduction targets and strategies from companies on a voluntary basis with the use of questionnaires


Commodity exchange located in New York on which copper and other materials are traded. Especially important for the American market


A term for materials mostly traded on the exchanges, including non-ferrous metals such as copper, tin and lead as well as precious metals, but also crude oil, grain and coffee

Complex raw materials

Both primary and secondary raw materials are becoming more ­complex, i.e. their copper contents are decreasing and their con­centrations of tramp elements and impurities are increasing


Compliance means conforming to certain rules. Apart from laws, directives and other standards, it also refers to corporate guidelines (e.g. codes of conduct)


The normal status of commodity futures contracts on the exchange in which the price for prompt deliveries is below the forward price for future delivery (taking storage costs into account). The opposite of backwardation

Continuous cast wire rod

Semi-finished product produced in a continuous process and used for the fabrication of copper wire. Standard diameter: 8 mm. Other dimensions can also be supplied 

Continuous casting

Continuous casting produces a continuous strand. During the casting process, a flying saw separates individual bars in different lengths. These so-called continuous cast products with varying cross-sections are processed by rolling and extrusion into plates, foils and tubes


Metallurgical furnace in which metal production or refining processes are typically carried out through oxidation. Copper matte from the flash smelter is treated in the converter and becomes blister copper

Copper cathodes

Quality product of the copper tankhouse (copper content 99.99 %) and the first marketable product in copper production which can be sold on the metal exchanges

Copper concentrates

A product resulting from the processing (enriching) of copper ores, the Aurubis Group’s main raw material. Since copper is found almost exclusively in ores in compound form and in low concentrations (usually below 1 % copper content), the ores are enriched in processing facilities into concentrates (copper content of 25 to 40 %) after extraction from the mine

Copper tankhouse

In the copper tankhouse an electrochemical process, the last refining stage in copper recovery, takes place. Anodes and cathodes are hung in a sulfuric acid solution (electrolyte) and connected to an electric current. Copper and baser elements (e.g. nickel) are dissolved in the electrolyte. Copper from the solution is deposited on the cathode with a purity of 99.99 %. More precious metals (e.g. silver and gold) and insoluble components settle as so-called anode slimes on the bottom of the tankhouse cell

CSR reporting obligation

Corporate Social Responsibility Directive 2014/95/EU on the ­disclosure of non-financial and diversity information 



The DAX (an abbreviation of “Deutscher Aktienindex”, or “German Stock Index”) is the main German stock index. It reflects the development of the 30 largest and strongest companies (related to free float market capitalization and order book volume) that are listed in the Prime Standard of the Frankfurt Stock Exchange



EBIT (earnings before interest and taxes) is an indicator of a ­company’s operative earning power, ignoring its capital structure.


EBITDA (earnings before interest, taxes, depreciation and amortization) is an indicator of a company’s operative earning power, ignoring its capital structure and propensity to invest.


EBT (earnings before taxes) is an indicator of a company’s earning power.


The European Energy Exchange is an energy exchange in Leipzig. As a public institution, it is subject to German energy exchange law. With over 240 exchange participants from 24 countries, it is the leader in continental Europe. Electricity, natural gas, CO2 emission allowances, coal and proofs of origin for green electricity are traded on the EEX


Eco-Management and Audit Scheme, also known as the EU eco-audit. EMAS was developed by the European Union and is a joint system comprising environmental management and environmental auditing for organizations that want to improve their environmental performance. The EMAS Regulation (Eco-Audit Regulation) gives companies a key role in responsibly handling their direct and indirect environmental impacts

Employee locker room

Changing area and washroom for mine and smelter workers


Flash smelter

First phase in the processing of copper concentrate. The concentrate, which is suspended in a reaction shaft, reacts with oxygen and is melted through the heat released. Sulfur and iron are separated into intermediate products. The copper is then enriched in the copper matte (copper content about 65 %)

Free cash flow

Free cash flow is the generated surplus of cash and cash equivalents taking into account cash-related changes in working capital and after deducting capital expenditure. It is available for the company’s dividend and interest payments as well as for the redemption of financial liabilities.



(Global Reporting Initiative) Participatory procedure for developing regulations for the sustainability reports of large companies, small and medium-sized enterprises (SMEs), governments and NGOs


Iron silicate

A by-product of copper production in the refining process. Formed using sand from iron chemically bonded to copper concentrates and recycling raw materials. Is mainly used in the construction industry as granules/sand or in a lumpy form



Kayser Recycling System; a state-of-the-art recycling plant in Lünen for the treatment of a wide range of copper-bearing secondary raw materials


Expansion of the existing KRS facility that includes a top blown rotary converter and a slag separation and holding furnace



London Metal Exchange: the most important metal exchange in the world with the highest turnover


Lost time injury frequency rate



The MDAX (derived from “mid-cap DAX”) is a German stock index introduced on January 19, 1996. It includes 50 stocks – primarily from classic industries – that follow the DAX stocks in the ranking of free float market capitalization and stock market turnover. The MDAX thus reflects the price trend of shares in medium-sized companies located or primarily active in Germany (mid-caps)

Metal gain

The quantity of metals that a smelter is able to bring out of the raw material input beyond the metal content paid for


Net cash flow

Net cash flow is the generated surplus of cash and cash equivalents after taking into account cash-related changes in working capital. It is available for payments in conjunction with the company’s investing and financing activities.

Net financial liabilities

Net financial liabilities consist of long and short-term financial liabilities less cash and cash equivalents.



Performance, Responsibility, Integrity, Mutability, Appreciation. The first letters of these values spell the German word “prima”, meaning “great”

Primary copper

Copper recovered from copper ores


Recycling materials

Materials in a closed loop economy. They arise as residues from ­production processes or during the preparation of end-of-life ­products and rejects and are ideal for recycling


ROCE (return on capital employed) is the ratio of EBIT to capital employed as at the balance sheet date. It describes the efficiency with which capital was utilized during the reporting period.


Secondary copper

Copper produced from recycled material

Settlement price

Official cash selling rate on the LME. Price basis in annual sales ­agreements

Shape surcharge

Fee for processing copper cathodes into copper products

Spot market

Daily business; market for prompt deliveries

Supply Chain Management

SCM is a process-oriented management approach that comprises all of the flows of raw materials, semi-finished products, final products and information along the value and supply chain, from raw material suppliers to final customers, and pursues the objective of resource optimization for all of the divisions in the Company that are part of the supply chain


Top blown rotary converter (TBRC)

A single-stage pyrometallurgical facility for the recovery of precious metals from the anode slimes in the copper tankhouse

Treatment and refining charges (TC/RCs), refining charges (RCs)

Fees that Aurubis receives for processing ore concentrates and ­recycling raw materials into copper