Coronavirus company news summary – India’s gold imports drop 99.9% – Rio Tinto unveils $10m support fund – Cerrejon ramps up production

5 May 2020 (Last Updated May 5th, 2020 09:22)

India’s gold imports last month plummeted 99.9% year-on-year to the lowest level in almost three decades, Reuters reported. In April, India imported around 50kg of gold, compared to 110.18 tonnes imported a year ago. The drop off in imports is attributed to air travel being banned and jewellery shops closed due to a nationwide lockdown to control the spread of Covid-19.

Rio Tinto is set to contribute $10m to support Covid-19 community initiatives in the US and Canada. The funding will be utilised to support deprived families and supply critical equipment to frontline workers. Additionally, Rio Tinto is supporting projects to create and maintain regional economic development.

Colombian coal mining company Cerrejon has started increasing production following a period of reduced operations to limit the spread of Covid-19. In March, the company trimmed activity and formed a contingency team to ensure compliance with coronavirus-related guidelines. Cerrejon is owned by BHP Group, Anglo American and Glencore.

State-owned coal mining and refinery company Coal India has announced that it is upgrading relief measures and medical support for its employees. Coal India chief Pramod Agrawal told PTI that the company is taking all steps to ensure health and safety of the workers. Coal India accounts for more than 80% of the country’s coal output.