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Teck Resources Hits New Yr Lows Amid Plans To Spend $685M On Improving BC Operations

Teck Resources Ltd. (TCK-B.TO) has dropped nearly 5% and hit a new year low today amid reports it is preparing to spend a total of $685 million on improvements at two of its major metals operations in British Columbia. Teck said it will invest $210-million to increase capacity of an electronic waste recycling operation in Trail, B.C., where Teck has a major smelter and hydroelectric plant. It will also spend $475-million to modernize and extend the life of a 40-year-old mill at the Highland Valley copper mine, about 75 kilometres southwest of Kamloops, B.C.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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