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Baar, Switzerland
15 September 2026
Glencore refers to reports in the media regarding its past business activities with Radiant World and associated companies. Glencore has confirmed evidence that these companies sent falsified invoices and contracts as well as fabricated emails, which they fraudulently claimed to have received from Glencore personnel, to a number of financial institutions.
We take these issues seriously and are conducting a review of our historic business activities with Radiant World, Sapphire Minmetals and associated companies. We have stopped doing business with these companies and have exited all obligations.
As further reported in the media, Radiant World and Sapphire Minmetals have alleged that they have claims against Glencore for substantial amounts. These claims are meritless and we will contest them vigorously. We have incurred losses and been exposed to risks by Radiant World companies and will take appropriate action.
As confirmed at our half-year results presentation, the exposure on our books to Radiant World and associated companies is not material to our financial position (below our threshold of $500mn). Taking into account provisions already booked, we are well below this threshold.
For further information please contact:
Investors
Martin Fewings
t: +41 41 709 28 80
m: +41 79 737 56 42
martin.fewings@glencore.com
Media
Charles Watenphul
t: +41 41 709 24 62
m: +41 79 904 33 20
charles.watenphul@glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that advance everyday life.
With over 140,000 employees and contractors and a strong footprint in over 30 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of offices.
Glencore’s customers are principally industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.
Important Information
This material does not purport to contain all of the information you may wish to consider. For further important information, including in connection with forward-looking statements and other cautionary information, refer to the Important notice section of Glencore’s 2025 Annual Report, which is available at glencore.com/publications. This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities.
Other information
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.