Kazakhmys cuts divi as costs soar - UPDATE

Kazakhstan-focused miner Kazakhmys saw shares drop on Thursday after the group more than halved its dividend as surging costs and falling commodity prices dented its bottom line in the first half.

Kazakhstan-focused miner Kazakhmys saw shares drop on Thursday after the group more than halved its dividend as surging costs and falling commodity prices dented its bottom line in the first half.

The interim dividend was cut to 3.0 cents per share, less than 8.0 cents per share at the half-year stage last year, which the company said reflects the lower level of cash generation by its operations and the relatively high levels of capital expenditure to be incurred in the next few years.

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