This would be a $3.5 billion acquisition for Teck. I don't think it affects us because I think we're going to be bought out eventually from a third party and that they will also contribute to the financing of the mine, and toss out that JV.

An acquisition that size would be Teck’s largest since its C$10.4 billion ($10.1 billion) purchase of Fording Canadian Coal Trust in 2008, a deal completed just as commodity prices were beginning to plunge during the financial crisis. In 2009, Teck’s credit rating was cut to junk byStandard & Poor’s and the company sold a 17 percent stake to China Investment Corp.

“We do look at opportunities in the market,” he said. If Teck found a potential acquisition,“we’d look at how to finance it at that stage, but always with the key criteria that we are staying investment-grade.”

--http://www.bloomberg.com/news/2013-07-29/teck-said-to-bid-for-rio-s-iron-ore-co-of-canada-unit.html