Zero need to buy out CUU because of the port access. Same goes for the land.

OK, Teck has 100% access to the port and land, but only 75% of the profit generated by working on the land and utilizing the port, which seems like a poor deal to me.

Copper Fox owns 25% of the land claims and Liard shares owned by the JV, and is entitled to 25% of the profit until the NPI kicks in.

The question was: I didn't think Teck needed to buyout Schaft Creek as they already have the port and the required lands. Am I missing something?

The missing point appears to be the profit. They don't just want to control the land and port, they want to use them to make money. Why would they want to do 100% of the work, and financing, without gaining 100% of the profit?

That's why they might want to buy the rest of Schaft Creek.