This is about control. Glencore....JP Morgan...Commodities. If you have control, you have the ability to manipulate. Morgan does this all the time. Do you recall the planned JP Morgan physical copper ETF? When you control production, physical supply...you have the ability to manipulate futures.

"Xstrata - which began its current incarnation in a JP Morgan basement, with the $2.5 billion acquisition of Glencore coal assets - was dreamt up as a new-style, nimble miner that would scoop up unwanted deposits from majors and turn them into lean, profitable enterprises."

I doubt the Chinese, through CIC, would like what they see happening and all the more reason they WANT & NEED Shaft Creek. That said, dont expect to see Xstrata/Glencore to meet eye to eye with Teck/CIC. Both entiities want control of the market over the other.

DC14