Glencore jointly owns the Collahuasi deposit with Anglo American, located just 10 kilometres from Teck’s flagship Quebrada Blanca mine in northern Chile. However, analysts warn Glencore’s backing depends on resolving complex valuation, supply agreement and governance issues between the different operations. They’re different operating styles, different management approaches — they’re different beasts,” Jorge Cantallopts, head of Chile’s Center for Copper and Mining Studies told Reuters. Glencore’s support hinges particularly on Quebrada Blanca’s valuation, according to a source familiar with the matter. “Glencore has been for a long time very interested in getting the adjacency benefits out of Quebrada Blanca,” he said.