An independent investigation reported by the Financial Times found German
precious-metals refiner Heraeus systematically underreported metal content in
client materials for more than a decade. The law firm leading the probe called
the practice “highly legally questionable,” alleging Heraeus downgraded assay
results for about 450 clients worldwide, reducing the cash or refined metal
returned after processing. Heraeus has booked EUR170m in provisions to cover
potential consequences.
