Glencore takes provision on Radiant World, says exposure not material
Aug 5 (Reuters) - Glencore has taken a provision related to Radiant World, CEO Gary Nagle said on Wednesday, but added that the Swiss miner and trader's exposure to the iron ore trader was not material. "We've got some pre-existing contracts with some outstanding items. We're assessing how to address them in a legally compliant manner, but we've stopped doing any new business with Radiant," Nagle told journalists on a conference call.
Aug 5 (Reuters) - Glencore has taken a provision related to Radiant World, CEO Gary Nagle said on Wednesday, but added that the Swiss miner and trader's exposure to the iron ore trader was not material. "We've got some pre-existing contracts with some outstanding items. We're assessing how to address them in a legally compliant manner, but we've stopped doing any new business with Radiant," Nagle told journalists on a conference call.
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