Chapter 328: Another Major Breakthrough
Li Tang had been living in the provincial capital of Huizhou for some time now.
Occasionally, he would visit the Nihe iron ore project site to check on the progress of deep drilling operations and any significant findings.
Most of the time, he stayed in the city. Whenever Geng Feiran visited Shazhai Molybdenum Company, he would call Li Tang over to discuss the development plan for the Shazhai molybdenum mine, usually accompanied by drinking and dining.
Not far from the provincial capital, there was a large lake famous for its plump and delicious fish.
During idle moments, Lin Feiming would drive Shazhai Molybdenum's company vehicle and take Li Tang fishing. They often cooked the bighead carp into chopped pepper fish head, an extremely delicious local specialty.
It was during one of these leisurely times that Li Tang received a call from Qu Yong'an, informing him that at around seven hundred meters deep, they had discovered a thick layer of magnetite.
He immediately called Lin Feiming and drove straight to the project site. The distance wasn't far, so it took them just over an hour to get there.
Over the past few days, experts from the Huizhou Geological Exploration Bureau had gathered from various locations to study and discuss the recent discovery. Many of these specialists had previously participated in the Shazhai molybdenum exploration project.
Among them was Peng Dezhi, a senior expert from Geological Team No. 3, who had a profound impression of Li Tang.
"When we reached the host rock surrounding the ore body, we noticed an alteration zone containing pyrite. Once the drill pierced through the roof of the host rock, we hit the magnetite layer!" The drilling technician enthusiastically explained the drilling process to the assembled experts.
Peng Dezhi walked over, warmly greeting Li Tang, "President Li, it's been a long time. After the Shazhai molybdenum mine, I heard you went overseas looking for iron ore."
Despite his thin physique, Peng's eyes were still bright and alert.
Li Tang vividly remembered this elderly expert, immediately responding with a smile, "How have you been feeling recently?"
"Certainly not as energetic as you younger folks," Peng Dezhi replied, gripping Li Tang's hand warmly, his eyes filled with genuine pride. "The Nihe iron mine area, including further north along the river, lies at the edge of a volcanic basin. We've been conducting exploration here for decades. If memory serves, exploration began as early as the 1950s. Although we discovered some iron, copper, and gold deposits, experts always suspected larger iron ore deposits in these anomalous magnetic zones."
"I've personally been involved several times in exploration projects here. Higher authorities always attached great importance to iron ore exploration in this area," he continued. "In the 1960s and 70s, during our industrialization push, China desperately needed steel, resulting in several major iron ore exploration campaigns around this volcanic basin's periphery. Unfortunately, no significant discoveries emerged."
"Since the 1990s, exploration efforts practically halted. Drilling here previously reached depths of at most four to five hundred meters. Who could've guessed the real ore layers were hidden seven hundred meters deep? Without visible signs at four hundred or five hundred meters, no one dared continue drilling deeper due to the high costs and responsibility," Peng said with profound emotion.
Looking at the core samples retrieved now, the experts felt deeply moved, recalling their decades of hard work. Discovering ore today was truly a bittersweet moment, a joyful ending after prolonged struggles.
Peng Dezhi continued gripping Li Tang's hand, exclaiming emotionally, "It had to be you stepping forward to finally find the ore!"
Seeing everyone's joyful expressions deeply moved Li Tang as well. For a geologist, finding ore was an unparalleled honor—the ultimate reward for persistent, diligent work, bringing indescribable satisfaction and pride.
"Your past efforts laid a solid foundation," Li Tang said modestly. He indicated a 1:50,000 scale aerial magnetic map spread on the ground, highlighting a clearly visible circular magnetic anomaly band around the volcanic basin's edge, with stronger anomalies on the perimeter. "This distinctive circular anomaly indicates something extraordinary beneath. Indeed, it's thanks to your analysis, years of geological work, and accumulated expertise."
Smiling warmly at the gathered experts, he generously attributed success to their earlier efforts. "We've only built on your hard-earned groundwork by drilling deeper holes. Without your earlier explorations, we wouldn't have had the courage or confidence to conduct deeper drilling."
His words carried genuine sincerity, visibly pleasing everyone involved, especially the senior experts whose past efforts seemed to have finally borne fruit today.
Qu Yong'an had been staying in a nearby town ever since the recent discovery, closely supervising progress and regularly studying the rock core samples. He had already formed preliminary conclusions about the findings.
"President Li, the main magnetite layer we encountered appears around twenty meters thick. Below the main layer, there are several thinner secondary layers, with some pyrite detected as well," Qu explained.
Li Tang had examined the core samples himself, concurring with this assessment.
"The ore formation tilts from southwest to northeast. However, we still don't know its exact shape or extent. It might be layered or perhaps isolated pockets. The possibility of it being a limited deposit can't yet be ruled out," Qu expressed cautious optimism. Although excited, he was also anxious, knowing that discovering a small, isolated deposit at seven hundred meters deep would hardly justify the significant exploration expenses.
"True, we must continue drilling deeper holes to confirm," Li Tang responded without hesitation.
Qu naturally agreed. Even before finding the ore, he had supported Li Tang's proposal of deep drilling. Now, having made an initial discovery, further drilling was clearly the next logical step.
After further discussion with the experts about the next phase of exploration, Li Tang and Qu Yong'an quickly decided on the locations for the next round of drill holes. They didn't settle for a single hole; instead, they simultaneously arranged five deep drillings. With abundant funding from Haigang Steel, they had no reason to hesitate.
Li Tang soon returned to Yanjing after receiving a call from Guinea's Minister of Mining and Geology, Minister Plaka, asking why they hadn't initiated any new exploration activities this year.
After successfully drilling in Guinea the previous year and publicly announcing their findings, the project had garnered significant international attention. The global mining community recognized Guinea's Simandou iron ore deposits and the nearby Ningbaishan deposits for their exceptionally high-grade ore, extremely rare and valuable worldwide.
Following their announcement, other international mining corporations had expressed keen interest, with several companies visiting Guinea to investigate potential investments. Local Guinean authorities recognized that increased investment in exploration would be crucial for their economic development.
Considering his company's strategic direction, Li Tang understood the Simandou iron ore deposits held tremendous potential. Should conditions stabilize politically and economically, or if strategic partners emerged, full-scale development would become viable in the future.
Since Minister Plaka took the initiative to reach out personally, Li Tang readily agreed to continue exploration. Of the original fifty million USD transferred into their Guinean account the previous year, less than half had been spent. There remained sufficient funds for further activities.
Li Tang didn't see any reason to personally supervise this year's work in Guinea. Instead, he assigned Lei Pingjin and his team to cooperate with Geological Team 101 from Qianzhou province, entrusting them to carry out the exploration efforts.
Only after receiving another call from Geng Feiran did Li Tang return to Huizhou province.
Geng was accompanying Chen Aimin, Director Chen from the Mineral Resources Administration, on a site inspection of the Shazhai molybdenum mine.
Visually, the area appeared unremarkable, with only mountains and vegetation.
"We've carefully studied the development plan for the Shazhai mine," Geng cautiously told Chen Aimin. Though Geng had a higher administrative rank as general manager of Tongdu Nonferrous Metals Group, Chen's position in mineral resource administration carried critical decision-making power.
After examining the area, Chen nodded thoughtfully. "I've reviewed your proposals. There don't appear to be significant environmental conservation areas nearby, and agricultural land within the mining zone is minimal."
They discussed further details, particularly the project's potential environmental and social impacts. Fortunately, the mine's remote, mountainous location meant minimal disruption to local communities.
"We've consulted top domestic and international experts to develop a viable, environmentally responsible mining plan. The funding is already secured," Geng reassured confidently. Given the recent rise in molybdenum prices—now skyrocketing to 6,000 yuan per ton-degree compared to just hundreds previously—the mine presented extraordinary financial prospects.
Director Chen smiled, assuring Geng, "Your mining rights have already been approved. It will be publicly announced very soon."
Geng's excitement was palpable—this was the best news he'd received in months.
As they discussed Li Tang's withdrawal from the project, Geng praised Li Tang's foresight, remarking, "Li Tang is a true dragon; the small pond of Shazhai mine couldn't possibly contain him. His eyes are fixed on broader horizons—international markets far beyond China."
Geng Feiran was deeply moved and genuinely astonished by the recent achievements of Lianying Mining.
"He truly is destined to become someone extraordinary!" Geng expressed sincerely.
Chen Aimin naturally knew about Lianying Mining, as well as Li Tang himself, and everything the young man had achieved—each accomplishment more inspiring than the last.
"I never expected he'd create such significant waves," Chen admitted candidly. "I met him a few years ago when he was handling a copper-gold project in Tubo Province, dealing with some disputes. Back then, he just seemed like an ordinary young man. But afterward, he discovered the Talege copper-gold mine, followed by the Shazhai molybdenum mine. Then he went abroad to Austria to acquire Lianying Mining and started developing iron mines."
Chen smiled gently, reflecting, "Sometimes when I think about Li Tang's actions, many of them were beyond our understanding. But looking back now, every decision he made showed incredible foresight. Not only in exploration techniques, but also in business—he truly has the talent of a genius!"
Geng nodded earnestly, adding, "His iron ore business in Austria fully demonstrated his extraordinary business acumen." Geng held profound admiration for Li Tang's capabilities—there was no denying his achievements. In just two or three short years since acquiring Lianying Mining, it had already grown into one of the world's leading iron ore enterprises. Its market value now surpassed even a centuries-old giant like Tongdu Nonferrous Metals Group.
"Our leadership has also been closely watching Li Tang's activities," Chen smiled warmly. "They frequently praise him, saying he's like the legendary Monkey King causing havoc in Heaven—disrupting global mining structures and possibly providing us with significant assistance in the future."
Whenever they mentioned Li Tang, they couldn't help but talk at length, filled with admiration and emotion. Only those who personally met Li Tang and witnessed his journey firsthand could fully appreciate the far-reaching impact of his work—not just on China's mining industry, but globally. And this impact had only just begun.
"I just spoke to Li Tang on the phone," Geng mentioned casually. "He said he's flying in shortly, so we can meet him in the provincial capital later." He hadn't mentioned this earlier, originally planning to use Li Tang's relationship with Chen to speed up the approval of their mining permits. But since Chen had already confirmed that the permits would soon be publicly announced, there was no longer any urgency.
"He's already withdrawn from Shazhai Molybdenum, hasn't he? Why is he still coming?" Chen asked curiously.
"He still holds a small amount of shares," Geng explained. "Regardless, Li Tang is Shazhai Molybdenum's founding chairman and deserves credit. Also, he's recently started a new iron ore project in Huizhou province, near the provincial capital."
"Nihe Iron Mine—I know about it," Chen nodded, acknowledging he was indeed well-informed about national mining activities.
Before Chen met Li Tang, Li Tang first encountered Qu Yong'an again.
"While you were back in Yanjing, we've made significant new discoveries at the Nihe Iron Mine," Qu Yong'an reported enthusiastically, handing Li Tang detailed documents. Although aware Li Tang could easily interpret the data, Qu offered additional explanations. "We've essentially confirmed that the magnetite layers underground exhibit a layered or quasi-layered structure."
Li Tang immediately understood the implications—a layered structure strongly suggested a large-scale deposit. Layered sedimentary deposits were often indicative of major mineral discoveries, whereas giant apple-shaped deposits like the Shazhai molybdenum mine were exceedingly rare.
"In the southwest to northern parts of the exploration area, we found magnetite deposits with excellent continuity," Qu continued. "The thickness is stable around 20 meters, and ore grades are between 30% and 40%. Current exploration results strongly suggest a large-scale deposit in the southwest, potentially exceeding 50 million tons of iron ore reserves."
"It seems we've finally located the true Nihe Iron Mine," Li Tang responded calmly, having anticipated this outcome.
Qu admired Li Tang's composure and foresight. "Following the ore layers northeastward, we've drilled a 1,000-meter deep borehole and discovered pyrite deposits of promising grade and thickness."
"Since we keep finding more mineral layers, continue drilling more boreholes until we've outlined the entire deposit clearly," Li Tang instructed confidently. At this stage, everyone knew what needed to be done next without his further explanation.
"We might have uncovered two major deposits here—one of magnetite and another of pyrite. Between these two layers, we've identified additional anomalies needing further exploration," Qu remarked excitedly. "I've already reported to Chairman Lu, and he's thrilled. Hearing that you're also in Huizhou, he's planning to come here himself and invite you to dinner."
"Chairman Lu himself?" Li Tang waved dismissively. "He doesn't need to go through such trouble."
"Flying over is quick enough," Qu reassured.
Indeed, Lu Chenyi arrived that very day, quickly arranging dinner plans by phone. Li Tang wasn't particularly enthusiastic about the dinner but couldn't refuse. Coincidentally, Geng Feiran also called, suggesting a meal together that evening along with Chen Aimin. Seizing the opportunity, Li Tang invited everyone to dine together, saving himself from another round of drinking.
At dinner, Lu Chenyi expressed surprise at seeing Chen. "Director Chen!" Lu greeted warmly, clearly pleased yet somewhat surprised. Chen held national authority over mineral resources and usually didn't travel often.
"Chairman Lu," Chen greeted warmly in return. "What brings you here?"
"I heard Li Tang was in the area and specially took half a day to come invite him to dinner," Lu gestured at Li Tang. "This young man has become extremely important to Haigang Steel—we're practically begging for his assistance now."
Chen laughed good-naturedly, sensing Lu's sincerity and joking tone. Lu quickly ordered additional dishes upon seeing more guests arrive. The atmosphere was friendly and relaxed, with everyone maintaining polite etiquette throughout the meal.
Midway through dinner, Lu raised his glass toward Li Tang, saying sincerely, "I specifically flew over today not just for dinner. There's something I must thank Li Tang for in person!"
Chen looked over curiously.
"We've discovered substantial magnetite deposits at Nihe Iron Mine, strongly indicating a large-scale deposit," Lu announced jubilantly. "It's another major breakthrough for Haigang Steel since we significantly increased our iron ore exploration investment!"
Qu joined in raising his glass, adding, "Without Li Tang's guidance, we'd never have found such a significant deposit!"
Chen appeared astonished. As head of mineral resources, he closely monitored discoveries nationwide. Large iron ore discoveries were exceedingly rare—recently, officials from the Steel Association had urgently requested increased domestic exploration to reduce dependence on imported ore.
Yet discovering significant iron ore deposits domestically was no simple task; Chen understood this deeply. Each exploration project carried enormous risk and uncertainty. Besides enhancing domestic exploration, securing overseas iron ore rights—emulating Lianying Mining's international strategy—was another viable solution.
He hadn't expected Li Tang to find a major iron ore deposit so soon after returning home.
"We've discovered both magnetite and pyrite deposits," Lu continued enthusiastically. "Inviting Li Tang to join us was clearly the right decision."
Chen studied Lu carefully—this wasn't a man prone to exaggeration. Turning again to Li Tang's young face, Chen marveled once more at his remarkable capabilities.
"You should join more domestic iron ore projects in the future," Chen urged Li Tang earnestly.
Li Tang humbly agreed, smiling gently. "The Nihe discovery was inevitable, given decades of groundwork by earlier geologists. Qu and I simply finalized their work."
"Then do more 'inevitable' work like this!" Chen laughed appreciatively, lifting his glass toward Li Tang. "I'll toast you as well."
"Too kind," Li Tang accepted graciously, downing the fiery liquor reluctantly but respectfully.
Geng Feiran was equally astonished. Familiar with the history of exploration in Huizhou, he knew firsthand how long geologists had worked fruitlessly on Nihe Iron Mine. Yet Li Tang had succeeded swiftly, astonishing everyone.
"You truly are Huizhou province's lucky star!" Geng exclaimed warmly.
After several rounds of drinks, Li Tang felt warmth spreading from his belly. Slightly dizzy but still grounded, he responded modestly:
"If I can contribute even a small part to our nation's mineral industry and industrial development, I'm truly proud!"
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