Great Reporting RabidTiger. I skimmed through the transcript here: http://seekingalpha.com/article/947031-teck-resources-limited-management-discusses-q3-2012-results-earnings-call-transcript?part=single

Found many good reasons why Teck is going BIG on Copper. They are deferring their CAPEX going forward by about 30%. That extra cash will come in handy for CUU. There is very little in their Q&A suggesting anything negative towards the CUU backin/buyout scenario.

They speak about all the delays and problems in Chile, and the great future potential but no big moves in the near term. So they sit with all this extra cash in the meanwhile. Then the copper outlook: they are very bullish on copper. So if you are big on copper and Chile is where you'd like to expand but currently you cannot/will not. Where will you go for your future copper needs?