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SA’s largest iron producer, Kumba Iron Ore, has slashed its interim dividend by almost two-thirds for its half-year to end-June, hit by a litany of issues including heavy rains, poor rail performance, falling prices, and a pickup in safety stoppages.

CEO Mpumi Zikalala told investors on Tuesday that eliminating logistics bottlenecks “continues to be a key focus area” for the company. Seasonal factors, she said, diminished in the second quarter with Transnet Freight Rail performance on the iron-ore line improving by 8%, but rail performance for the period was still 11% below contracted capacity...

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