Glencore-Xstrata already owns 10.72% of Liard Copper Mines through its purchase of Falconbridge.

SC, as defined by the FS is 940.8 million tonnes containing 5.6 billion lbs of copper; 5.7 million oz. of gold 363.5 million lbs of molybdenum and 51.7 million oz. of silver on the basis of drill data up to May 23, 2012. LOM average mill feed grades 0.271% copper, 0.191 gpt gold, 1.716 gpt silver, 0.018% molybdenum and a copper equivalent ('CuEq') of 0.441%.

That is compared to Las Bambas of 950 million tons of ore reserves at .73% copper.

Both projects claim there is potential to add more, but we all know SC has a substantial amount that is already drilled but not included because of the limitations of the pit design. Within the pit shell there is a total of 171.16 million tonnes of inferred resource grading 0.25% copper, 0.018% molybdenum, 0.164 grams per tonne ('gpt') gold and 1.58 gpt silver which for purposes of this study must be treated as waste rock.

I think Glencore got a good deal especially since they were under significant pressure to sell.

If you were Teck looking for a partner for SC, wouldn't you call up Glencore and say they need to talk? Teck might have the project optimized by now and Glencore already owns a percentage and they wouldn't sell when asked.