Mizuho Bank extended a US$100 million credit facility to iron ore trader Radiant World in June 2026, with the financing secured against invoices purportedly from sales to Glencore. However, Glencore informed Mizuho in August that it did not recognize the invoices, raising questions about the validity of the collateral. Glencore subsequently exited all business obligations with Radiant World and booked a provision on its exposure. Singapore's police launched an investigation into Radiant World following reports about the company.
Company Information
Company
Radiant World
Location
Singapore
About
Radiant World is an iron ore trading company founded by Pinkesh Nahar in 2003. The company has grown to become one of the world's largest iron ore traders, handling over 80 million metric tons of iron ore annually. It operates in commodity markets and has worked with major counterparties including Glencore.
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