I just wanted to expand a bit on my previous post. From Teck's conference call, it sounds like Chile is becoming a more difficult environment for miners. Since Chile is by far the largest copper producer, see here, any difficulty they give the miners will make us look even better.

For the QB2 project, the regulators are making things somewhat difficult:

"QB2 is the prime example of that, with the SEIA having been withdrawn and still without clarity on what the new requirements will be..."

Also, one of the minor partners may bail on them:

"ENAMI will stay in the course, but whether IMSA will stay in or sell their interest"

For the Relincho project, previously approved projects have been cancelled by their Supreme Court. This may result in Teck having to built their own port AND power plant. This has delayed their feasibility study.

"With our Relincho plans, we were relying on third-party supplies for both power and port. And we had in mind, in particular, the use of project that was under development by a third party and which did have some of its approvals. Those approvals were subsequently withdrawn through an action in the Supreme Court in Chile. So there's a great deal of uncertainty about if and when that port will be booked. So we are, in fact, now actively exploring what our alternatives would be about other alternatives, which would be third-party supply for the port or even the possibility of a port construction in -- within our own plan and looking at what other options are available for power supply. We are, at this stage, looking to build a powerhouse of our own. We're not the only development that's being affected this way, and this is not the only -- there aren't many in Chile powerhouse importers. It's not the only development in Chile that's been overturned by plans against approvals that have already been granted. So there is a period of flux in Chile at the moment as some of the new regulations and the new distribution of authority from the center to the regions is taking place, and we just have to watch how that goes. In the meantime, we are starting to develop our own pullback positions."