Teck plans to defer several projects
Oct 24, 2012 | 04:16 PM
| Thorsten Schier, Daniel Fitzgerald
Tags
Teck Resources,
Don Lindsay,
Trail Mine,
Quebrada Blanca Mine,
copper,
zinc,
coal,
iron ore
third-quarter earnings
NEW YORK — Teck Resources Ltd. said that it is deferring some of its planned capital expenditures, including expansions to its Quebrada Blanca copper mine, as it recorded a 77.9-percent year-on-year drop in net profit for the third quarter.
The Vancouver-based company recorded a net profit of Canadian $180 million ($181 million) for the three-month period ending Sept. 30, down from C$814 million in the year-ago period.
Revenues stood at C$2.51 billion ($2.52 billion), which was down 25.7 percent from $3.38 billion in the third quarter of 2011.....
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