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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