So why would Teck even want to partner up with someone?  

Assuming Schaft Creek will generate 1B cashflow per year and Teck currently has 500M shares out there.

• If they partner and keep 50% of the project, that gives them a 1$ ratio per share
• If they dilute their float 10% to keep 100%, that gives them a 1.80$ ratio per share

After, instead of paying for our portion, they could use that money + money from the sale of Zafranal & St-Nicholas to finance the remaining of the construction.

QB3 and Nueva Union seem more advanced, but Schaft Creek is in Canada, has many metals and subject to a different currency.  Owning 100% of this project, in their backyward, would greatly balance Teck's porte-folio and reduce their risk in many areas.  They can't simply put all their eggs in Chile in my opinion.

It could also give them more control over the district and even have some influence on controlling the other properties nearby.

MoneyK