Coronavirus company news summary – Caterpillar reports Covid-19 woes – Glencore reports strong performance – Poland struggles with mining outbreaks

3 August 2020 (Last Updated August 3rd, 2020 09:20)

3 August

India’s Minister of Coal and Mines Pralhad Joshi said that the deaths of Coal India workers due to Covid-19 will be treated as accidental death, entitling the families of employees that die after contracting the virus to the same benefits as an accidental death while at work. A statement by the Coal Ministry noted that the families of employees that have died from the virus so far will also be eligible for the same benefits. Joshi said that workers have put their lives in danger and performed a tremendous job during the pandemic.

Heavy equipment manufacturer Caterpillar has predicted no improvement in equipment sales, after the company’s second quarter 2020 earnings declined during a crippling recession amid the Covid-19 pandemic. For the remainder of this year, the company’s financial results will be impacted by continued global economic uncertainty due to the pandemic. Caterpillar chairman and CEO Jim Umpleby said that during the quarter, its employees and dealers remained dedicated to providing the essential products and services under very challenging conditions.

Glencore has reported an overall strong operating performance for the first half of this year despite facing challenges due to the Covid-19 pandemic. Glencore CEO Ivan Glasenberg said that the strong performance reflects the ability as well as dedication of its teams to adapt to these difficult conditions. Glasenberg further added that the majority of its assets continued to operate relatively normally although some of its industrial operations were temporarily suspended in line with national and regional guidance.

Poland Health Minister Lukasz Szumowski has reported more than 200 cases in the Silesia mining region in southern Poland, which has been grappling with an outbreak among mining workers. The country announced its highest number of new cases of Covid-19 for a third day in a row with 658 according to the Ministry, which also reported five new deaths.