Glencore acquired warrants in late 2025 that would have given it a minority stake in Radiant World, a few months before the London-listed commodity giant moved to cut ties with the troubled iron ore trader, Bloomberg reported Monday, citing people familiar with the matter.

Radiant World has come under pressure amid concerns that it provided falsified documents to banks.

Glencore holds warrants that could be converted into a stake of less than 5% in Radiant World, but it has not exercised them, Bloomberg reported.

Jefferies Financial Group's (JEF) Point Bonita fund has been reviewing its exposure to Radiant World, according to an earlier Bloomberg report. Deutsche Bank (DB) and KBC Group froze some of Radiant World's bank accounts in Singapore, according to a separate Bloomberg report from Aug. 6.

Glencore and Radiant World did not immediately reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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