Glencore books provision related to iron ore trader Radiant World, halts new deals

Corporate Action
โดย Reuters·CH·Read original
Summary · why it matters

Swiss resources giant Glencore has booked a provision and halted new transactions related to iron ore trader Radiant World, amid emerging invoice-related allegations. CEO Gary Nagle disclosed this during an earnings call, explaining that the exposure is not large. It has been reported that Vitol Group and Cargill have also suspended dealings with Radiant World. CEO Nagle added that the company views Radiant World and Sapphire Minmetals as an integrated group. The size of the provision and the timing and reason for the trading halt were not disclosed.

Impact on stocks 1

Critical Materials & Supply Chain▼ · 1 stocks
Glencore PLC
GLEN
▼ NegativeRegulationrelevance

Glencore books provision and halts new deals with Radiant World due to invoice-related allegations.

Off-coverage companies 4

Radiant WorldPrivate▼ Negative
Regulationrelevance

Radiant World faces invoice-related allegations, leading to halted transactions and provisions.

Sapphire MinmetalsPrivate± Mixed
Regulationrelevance

Sapphire Minmetals is viewed as integrated with Radiant World, but specific impact is not detailed.

Cargill, IncorporatedPrivate± Mixed
Regulationrelevance

Cargill also suspended dealings with Radiant World, but impact on Cargill is not detailed.

Vitol GroupPrivate± Mixed
Regulationrelevance

Vitol Group also suspended dealings with Radiant World, but impact on Vitol is not detailed.

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