Radiant World and Sapphire Minmetals Cut Staff Amid Fraud Allegations

Radiant World and Sapphire Minmetals Corporation Limited have reduced staffing across their Asia and Europe offices following allegations of fraud. The reductions include both involuntary terminations and resignations.

Radiant World has lost nearly half of its iron ore traders in China and Singapore, with further departures reported from its offices in London and Geneva. Sapphire Minmetals has similarly implemented cuts to its operations in China and Singapore.