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Glencore Bids for Lithium Mining; Faces $2bn Lawsuit
September 16, 2026
Glencore Plc and InfraVia Capital Partners are among potential bidders for a minority stake in Eramet SA’s lithium mining and refining operations in Argentina, according to sources. Companies from Japan and the US have also been approached. However discussions remain at an early stage and no deal is guaranteed. Eramet announced plans earlier this year to raise funds through asset sales and a capital increase after its debt surged amid operational challenges. Glencore already has a marketing agreement with Eramet and seeks to expand its lithium trading activities, while InfraVia has invested in several critical-minerals projects.
Meanwhile, Glencore accused Radiant World and affiliated companies, including Sapphire Minmetals, of fraudulently submitting falsified invoices, contracts and fabricated emails to financial institutions. Glencore said it had “confirmed evidence” of the alleged misconduct and announced that it had terminated all business dealings with Radiant World and related entities while exiting all obligations. The accusations follow reports that several major commodity traders had cut ties with Radiant World over concerns that it had provided falsified documents to banks. The dispute has escalated into legal action with Radiant World and Sapphire Minmetals filing a $2bn lawsuit against Glencore in a Singapore court. The companies reportedly argue that Glencore’s withdrawal breached contractual commitments and caused substantial losses.
Glencore’s dollar bonds traded stable. For instance, its 5.4% 2028s were at 100.3, yielding 5.2%
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