"To make the Las Bambas project comparable to Schaft Creek, you have to look at the buyout as a $2.7B buyout. If I sell a $50K car with $200K in cash in the front seat, this does not mean the car is worth $250K. Similarly, if I sell a $2.7B mine with $3.3B in sunk costs, it does not mean I am getting a $6B mine. You need to account for the sunk capex when you compare the buyout value to Schaft Creek"

Yes, I get all that. There was a misunderstanding. I thought you meant Las Bambas was worth 6 billion without the sunk costs. Sorry. So you are basically saying the Las Bambas is worth only 2.7Billion. The only reason Glencore is asking for 6 billion is they already put in half the capital cost to build the mine. From a value standpoint, SC could soon become bigger than Bambas and those operating costs that you mentioned could come down big time so I would not say those are correct numbers.