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Autonomous haul trucks move along a haul road at an iron ore mine in Western Australia. Photographer: Carla Gottgens/Bloomberg
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By Alfred Cang, Jack Farchy, Archie Hunter, Mark Burton, Katharine Gemmell, and Katherine Doherty
July 31, 2026 at 7:51 AM EDT
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Vitol Group and Cargill Inc. have stopped trading with Radiant World, a private firm that’s rapidly risen to become one of the world’s largest iron ore traders, while Glencore Plc is no longer doing new business with the company, according to people familiar with the matter.
Two of the trading houses saw invoices or other documents that Radiant World had provided to its banks that were not valid, several of the people said, asking not to be identified due to the sensitivity of the matter. The third pulled back from dealing with Radiant World after its traders were told by colleagues in the industry about concerns about falsified documents that the company considered credible, one of the people said.
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