Chapter 281 In the Field of Copper Mines, He is God!
Li Tang rushed back to Yanjing without delay. It wasn't because he urgently needed to raise funds for the Pebble Project, but because he received an urgent summons from Niu Fu.
He hadn't even recovered from jet lag yet; his mind was still groggy when he arrived at the Wukuang Group headquarters.
Hearing the knock at the door, Niu Fu waved Li Tang in, "You're finally here!"
"Once I heard Director Niu summoned me, I immediately rushed back. Normally, I can't bear to leave even when my girlfriend misses me. But this time, as soon as the plane landed, I came straight here to see you before visiting her!"
Li Tang looked around the office and noticed Niu Fu was alone.
"You're getting smoother with your words every day," Niu Fu laughed, stepping out from behind his desk and gesturing Li Tang to sit. "Have some tea first; Jian She will arrive shortly."
"Did something happen at Zhongcheng Mining?" Li Tang asked. From the tone of Niu Fu's secretary over the phone, he sensed something serious had occurred.
"Have your tea first. Jian She will explain everything clearly once he arrives."
Right as Niu Fu finished speaking, Qin Jianshe rushed in hastily, not even bothering to knock.
"Li Tang, you're finally back!" Qin Jianshe said breathlessly, nodding towards Niu Fu before taking a seat next to Li Tang. Turning his head to face Li Tang, he said, "You vanished for several months. Spending all that time in some frozen wilderness, you're probably the only one who can handle such loneliness!"
Li Tang examined Qin Jianshe closely, noting he had visibly lost weight. The pressure and heavy responsibility after taking over Zhongcheng Mining had obviously taken their toll.
"Is there trouble at the Taleguo copper-gold mine?" Li Tang guessed.
Qin Jianshe poured himself a cup of tea, drank it down in one gulp, and sighed, "Big trouble, indeed."
"Before, Bayar and Jirigala promised they'd offer us maximum assistance with further mine development," Li Tang remarked, frowning slightly. It had been a long time since he'd visited Mongolia; perhaps some people there had new ideas. "Are they not providing the promised support?"
"Bayar and Jirigala have a good relationship with us. During the previous exploration phase, they helped extensively with drilling rig arrangements."
"That's because drilling operations involved millions of dollars, all spent within the Mongolian market. They naturally had strong motivation," Li Tang said frankly, knowing it was safe to speak openly here.
"They've also helped significantly in this mining-rights development phase," Qin Jianshe continued.
"Then what's the actual issue?" Li Tang was puzzled.
"After submitting our feasibility study for project development, the Mongolian authorities initially agreed the proposal was viable, especially given our significant investment in environmental protection measures," Qin Jianshe explained while pouring another cup of tea and shaking his head. "Moreover, the China Metallurgical Group, as the general contractor, guarantees the highest domestic standards. Naturally, our feasibility study met all required criteria."
"I see," Li Tang responded, still confused about the root cause of the problem.
Putting down his tea cup, Qin Jianshe sighed again. "Initially, our sources indicated the feasibility study had already passed preliminary reviews in Mongolia. But at the critical moment, someone maliciously intervened."
"Someone's playing dirty?" Li Tang asked immediately.
"A rumor suddenly surfaced in Mongolia, claiming we bribed officials during exploration and when obtaining mining rights," Qin Jianshe stated plainly. "Have you ever given anyone money?"
"Absolutely not," Li Tang shook his head firmly. "Even the drilling-rig rental payments were entirely legal and transparent. That can't be considered bribery."
"Exactly! I can't figure it out either!" Qin Jianshe was frustrated. The real problem was unclear.
"Who are they claiming we bribed?" Li Tang asked.
"They haven't specified any names. Bayar and Jirigala seem perfectly normal, attending work regularly," Qin Jianshe replied. "Apart from those two, we haven't dealt closely with anyone else."
"What's the current situation of their investigation?" Li Tang asked further.
"They're reviewing South Desert Resources' financial records and also investigating you personally," Qin Jianshe said, pointing directly at Li Tang.
"Investigating me?" Li Tang asked incredulously.
"You were previously responsible for the company, so naturally, they suspect you masterminded the alleged bribery," Qin Jianshe explained. "They've requested you to go over personally to clarify matters."
"Clarify what exactly?"
"They didn't specify precisely what needs clarification or details about the supposed bribe. Their investigation so far seems very superficial, almost like child's play," Qin Jianshe said with annoyance. "At the rate they're going, who knows when it'll end? Whether deliberate or due to their working style, if they drag this investigation out indefinitely, our project approval remains indefinitely stalled."
"Then perhaps I should accompany you to Ulaanbaatar and clear this up myself," Li Tang suggested, confident in his innocence.
"No, you absolutely cannot go!" Niu Fu interjected firmly, speaking up for the first time.
"What's there to worry about?" Li Tang had traveled far and wide and was used to handling difficult situations.
"If the investigation were simply about bribery, it wouldn't be so bad," Niu Fu said, looking at Li Tang with a serious expression. "My greatest worry is that they're fabricating accusations. If you actually go there, they could easily detain you under a false pretext and charge you unjustly. You wouldn't even have the chance to escape."
"It shouldn't come to that…" Li Tang hesitated slightly.
"False accusations are easy to invent," Niu Fu warned.
Li Tang thought for a moment and realized this scenario wasn't impossible. After all, the world was unpredictable, and no one could truly guess others' intentions.
"I think they're just bargaining for something," Qin Jianshe chimed in.
"What exactly do they want?" Li Tang turned toward Qin Jianshe.
"So far, no conditions have been raised," Qin Jianshe admitted helplessly, making it difficult to resolve the matter directly.
"By prolonging the investigation over a minor matter for several years, they can stall our entire project," Niu Fu explained calmly. "On their own territory, they have absolute power over such matters."
"What should we do now?" Li Tang felt powerless.
"Wait and see," Niu Fu suggested calmly. "They're probably after some kind of benefit. Surely they won't do something that harms both sides without gaining anything themselves. Eventually, they'll hint at their intentions, and then we can act accordingly."
"Fine," Li Tang agreed with this approach.
Qin Jianshe also supported this strategy, as he'd already been waiting quietly.
"There's one other piece of information," Qin Jianshe mentioned after a pause. "Alice introduced me to a Mongolian parliament member who seems important. He hinted that the bribery accusation might not be fabricated—it seems someone genuinely reported us."
"Really?" Niu Fu appeared genuinely surprised.
"An outsider, apparently—maybe someone from Australia, Japan, or Korea," Qin Jianshe added.
"Who do you suspect?" Li Tang asked directly.
"My instincts point towards the Japanese," Qin Jianshe replied cautiously. "Lately, representatives from Shin Nichi Steel have been frequenting Ulaanbaatar."
"Weren't Rio Tinto's people previously stirring trouble in Mongolia, preventing the issuance of our mining license?" Li Tang asked.
"Indeed, Rio Tinto's interference has been confirmed," Qin Jianshe nodded firmly. "They were quite active with several parliamentarians."
"Rio Tinto and Shin Nichi Steel often cooperate closely, sharing similar tactics and behavior," Li Tang commented. "However, I can't understand why Shin Nichi Steel would target us; we've never had conflicts."
"Are the Japanese genuinely interested in justice?" Niu Fu scoffed, unconvinced.
"That remains unclear," Qin Jianshe admitted. He hadn't personally interacted much with them.
"What projects do they have there?" Niu Fu continued probing.
"They're negotiating a coal project with Mongolia's Mineral and Petroleum Authority, just about a hundred kilometers from our Taleguo copper-gold mine," Qin Jianshe explained.
"No direct conflict with us," Niu Fu mused. "Why provoke us unnecessarily?"
"That's why I'm uncertain," Qin Jianshe shrugged helplessly.
"What do you think, Li Tang?" Niu Fu turned back to him.
"If the Japanese are truly behind this, constantly testing us, then perhaps it's time to teach them a lesson," Li Tang responded calmly.
"That's the spirit," Niu Fu smiled approvingly at Li Tang's courage.
Just then, someone knocked at the door. Everyone looked up as Lang Hemin walked in, and all rose respectfully.
"Li Tang is here too! What perfect timing!" Lang Hemin greeted them warmly. He handed a newspaper to Niu Fu. "Have a look at this!"
"What's the news?" Niu Fu asked curiously, glancing at the paper.
"It's the front-page headline," Lang Hemin said eagerly, pointing.
"Discovery of Super-Large Copper-Gold Deposit in Alaska's Pebble Project," Niu Fu read aloud in astonishment.
The report stated clearly that the Pebble Project was enormous, potentially surpassing Taleguo to become the world's largest undeveloped copper-gold deposit. Estimated reserves included an astonishing 3,000 tonnes of gold (almost three times Taleguo's gold reserves), 15,000 tonnes of silver (twice Taleguo's silver reserves), and 2 million tonnes of molybdenum.
Each figure represented massive wealth.
"Could this discovery impact global copper prices significantly?" Niu Fu immediately expressed concern.
If Taleguo's discovery might depress copper prices, another discovery of similar magnitude could plunge copper prices into an unprecedented low.
"I don't know whether it'll cause an impact or not," Lang Hemin said, looking at Li Tang, clearly revealing the reason for his visit today. "This newspaper was specifically sent to me by higher-ups, requesting that I pay close attention."
"What does the Pebble Project have to do with us?" Niu Fu couldn't grasp the deeper meaning.
"I thought the same at first," Lang Hemin replied patiently. "Then someone from higher up explained to me clearly: the controlling interest behind the Pebble Project is capital originating from our own country!"
Lang Hemin was smiling as he looked directly at Li Tang.
Niu Fu thought carefully but still couldn't fully understand: "Domestic capital?"
Initially, Qin Jianshe felt the project's name was familiar, but after glancing toward Li Tang, he suddenly recalled clearly.
"Isn't the Pebble Project precisely what Li Tang has been working on in America this year?"
"Li Tang's project?" Niu Fu's eyes widened in shock as he turned to Li Tang.
Indeed, this young man had been busy exploring in America recently. At the start of the year, they all felt his thinking was scattered and unfocused. Now, months later, news broke out so abruptly that they hadn't made the immediate connection. After Qin Jianshe's reminder, realization struck.
He stared at Li Tang in astonishment. "This really is your project?"
"Yes, it's truly mine," Li Tang nodded.
"Why didn't you say something sooner?" Niu Fu felt Li Tang had intentionally concealed this fact.
"I just got back and haven't had the chance to tell you," Li Tang explained frankly. Actually, he'd initially planned to keep it quiet, since the Pebble Project had no direct relation to Wukuang Group. "Ever since I came in, we've only discussed the Taleguo Copper-Gold mine."
"Is the Pebble Project really as massive as the Taleguo mine?" Niu Fu asked, still shaken by the revelation.
They'd already felt satisfied with one Taleguo Copper-Gold mine. Now, here was another world-class deposit! It forced them to reassess their view of Li Tang once again.
"In some aspects, the Pebble Project even surpasses Taleguo," Li Tang clarified without exaggeration.
In terms of gold, silver, and molybdenum reserves, the Pebble Project was indeed more substantial, even containing significant amounts of palladium and rhenium. This was why Pebble was considered the largest multi-metal deposit globally.
"What exactly goes through your mind?" Niu Fu stared at Li Tang in disbelief.
Lang Hemin affectionately ruffled Li Tang's hair, clearly impressed. "Kid, what exactly is your brain made of? How can you think so differently from everyone else?"
"When I went to America previously, it was initially to attract investors. However, after talking to a few people, I realized it wasn't going to happen easily and gave up on that route. Then I heard that Northern Dynasty Minerals urgently needed capital, so I joined forces with Freeport Copper & Gold to invest directly into this junior exploration company."
Li Tang briefly explained his time in America. "Over the past months, the exploration work continued steadily, and achieving these results definitely cost us dearly."
"Your investment paid off tremendously," Lang Hemin laughed heartily. "The newspaper says Northern Dynasty Minerals now has a market valuation surpassing six hundred million U.S. dollars, and it's still rising!"
"Such extraordinary deposits always attract global attention," Niu Fu acknowledged, fully aware of what major mining companies craved. Mining giants thrived by acquiring competitors, expanding their resource base, thus increasing their control and pricing power in the industry.
Projects like Taleguo and Pebble were precisely what global giants dreamed about. But Taleguo, located in remote Mongolia with difficult transportation and unstable mining conditions, had limited selling potential, primarily to China. Pebble was a different story entirely—it was located in the United States!
America, the world's leading economy, had developed financial systems and ample investment capital. There were stable regulations, strong governance, and minimal risk from political turmoil. Therefore, this deposit would undoubtedly draw worldwide attention from every mining powerhouse.
"Do you have controlling rights?" Niu Fu asked.
"I'm currently the largest shareholder, but company management is in Collier's hands," Li Tang explained casually, considering this no secret.
"What's your next move for such an important project?" Niu Fu pressed further.
"As you've seen, the project has only completed the first phase of exploration. Those staggering reserve figures are largely inferred resources, and the truly proven reserves represent only about one-third of that total," Li Tang explained clearly. "Subsequent exploration funding will certainly exceed one hundred million U.S. dollars. Additionally, obtaining permission to mine involves negotiating with the salmon-fishing industries and America's EPA. The costs involved won't be any less than exploration expenses."
"Exploration overseas is indeed significantly costlier than domestic operations," Niu Fu concurred emphatically.
"Our labor costs there are at least ten times higher," Qin Jianshe agreed readily.
Lang Hemin studied Li Tang's expression thoughtfully, reading between the lines. "Judging by your words, you don't intend to keep long-term control over this deposit."
"Correct," Li Tang nodded calmly. "I plan to sell my stake as soon as possible."
"Sell?" Niu Fu's voice raised sharply, clearly unable to understand Li Tang's decision.
Given current copper market conditions, international copper prices had already exceeded $3,000 per tonne. Domestic prices were even higher, nearly 30,000 yuan per tonne—a historical peak! Industry insiders knew this was an optimal time for large-scale, high-grade copper mines. Li Tang held a world-class copper-gold deposit—potentially the largest gold mine in the world. The "world's largest" tag alone was worth hundreds of millions!
To casually say he planned to sell was incomprehensible. Was Li Tang bowing out at the peak?
"You don't have confidence in copper or gold prices long-term?" Qin Jianshe asked cautiously.
"On the contrary," Li Tang shook his head firmly, "I'm extremely optimistic about copper and gold's future."
"Then why sell such a valuable deposit?" Qin Jianshe was puzzled.
"If, according to you, the current exploration only covers one-third of the deposit," Lang Hemin reasoned calmly, "further investment might fully uncover the resource, propelling the company's market value even higher. Today's six hundred million dollars could easily become one billion, or even two to three billion dollars."
"I understand," Li Tang nodded again, "but one mustn't be too greedy."
Upon hearing these words, all three older men fell silent, pondering deeply. Indeed, Li Tang's words were worth reflecting upon. Initially, everyone felt Li Tang should firmly grasp the mine, yet here he was, proposing to sell now. It was perplexing.
"Truthfully, we can't offer much support for your American project," Lang Hemin concluded diplomatically, placing a reassuring hand on Li Tang's shoulder. "Higher-ups have expressed keen interest in this matter. But ultimately, since your firm is private, specific actions remain your decision."
"Selling now might fetch you three or four hundred million dollars at best. That's too cheap!" Niu Fu still considered Li Tang's choice hasty. "You could hold onto it, observing future market developments. As you said, copper's future is bright. Holding onto the asset longer might yield greater returns."
"I can't afford the next phase of exploration," Li Tang admitted pragmatically, unembarrassed. "Additionally, news has already broken, and American mining giants will inevitably find ways to get involved. The asset is on their turf. Even if I forced control, the pressure would be enormous."
Niu Fu sighed deeply, acknowledging the limitations posed by distance.
"Is this another porphyry copper deposit?" Qin Jianshe asked, switching briefly to technical questions.
"Yes," Li Tang confirmed. "Its formation closely resembles Taleguo's, both being magmatic intrusions."
"Your expertise in porphyry copper exploration truly leads the world," Qin Jianshe admired sincerely.
Just then, the office phone rang.
"Please wait a moment," Niu Fu stood up and answered, "Niu Fu speaking. Who is this?"
"Niu, it's Chen Jinghe," the caller greeted warmly.
"Chairman Chen, what can I do for you?" Niu Fu replied politely.
"I heard Zhongcheng Mining encountered problems obtaining project approval in Mongolia. Need help?"
"Qin Jianshe's handling it. Just minor setbacks," Niu Fu assured confidently. "We'll overcome it. Rest easy."
"Glad to hear," Chen Jinghe continued thoughtfully. "By the way, today I spoke to Li Feiqun from Jiangda Securities' investment banking division. She mentioned domestic capital recently invested in a junior exploration firm whose stock surged tenfold after discovering a world-class copper-gold deposit in Alaska called the Pebble Project."
"Indeed. It's Li Tang's investment, and he personally oversaw the exploration!" Niu Fu confirmed straightforwardly.
"So, it really is Li Tang!" Chen Jinghe exclaimed in delight. "How many giant porphyry copper deposits has this young man discovered now? Every recent world-class copper discovery was his work. In the copper-mining field, he's practically a god!"
"Chairman Chen," Niu Fu laughed warmly, "You should tell him yourself—he's sitting right here!"
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