Chapter 378: Li Tang Isn't a Businessman at All
Layton was quite surprised when Alba, the CEO of Rio Tinto, personally came to visit him.
After all, the New Democratic Party wasn't the ruling party and couldn't directly help local businesses—especially multinational giants like Rio Tinto. Usually, companies of this scale hovered around influential government officials, never bothering with someone like him.
Logically, if Rio Tinto had investment projects or needed government assistance, Alba could have directly approached Prime Minister Martin. So, why come to him specifically?
Unless Alba anticipated a change of government, with the New Democrats taking power.
Every administration had its own entourage; political fortunes could shift at any moment.
"I've found myself deeply resonating with your party's political views, so I came to discuss some macroeconomic strategies for our nation," Alba laughed politely, quickly steering the conversation to his real agenda. "Chinese enterprises and individuals are becoming deeply embedded into the Canadian economic system. This is a dangerous sign and the biggest blunder of Martin's administration!"
Criticizing Martin automatically made him a friend.
For the New Democratic Party to win the next election, stepping over the current administration was essential.
Layton found Alba's statement surprising. After all, publicly sharing such views could significantly damage Rio Tinto's own business in Canada. Although Canada championed free speech, a foreign businessman openly criticizing the government rarely ended well.
"Mr. Alba, why bring this up all of a sudden?" Layton asked. As an experienced politician, Layton frequently opposed Martin, often making provocative remarks in public. But these statements were rooted purely in political positioning. He wasn't easily manipulated.
Alba rarely communicated with Layton, and now he wanted to discuss shared ideals? Clearly, they weren't aligned. Alba decided to be straightforward, revealing his true intentions.
"The Mary River iron ore project belongs to Cold Iron Company, of which 80% is owned by Li Tang, a Chinese businessman."
"Ah, yes." Layton instantly understood Alba's concerns. "Mary River Iron Ore has been found to contain vast, high-grade ore deposits, easily accessible at surface level. The development costs are extremely low. Once developed, it'll definitely influence the global iron ore market. Is that what worries you?"
"Mary River cannot be allowed to enter production!" Alba bluntly admitted his purpose.
"Even if this project influences the iron ore market, it shouldn't significantly threaten Rio Tinto's operations," Layton pointed out skeptically.
"Not immediately, but in the long term, Li Tang is a threat to every iron ore enterprise! He's recklessly expanding the production of his mines without respecting industry norms or controlling output to maintain prices. His involvement will disrupt the stability of the global iron ore market!"
Alba's words encapsulated his deepest fears. Yet, convincing Layton required speaking from Layton's perspective.
"I know you've frequently expressed your opposition to large-scale Chinese investments in Canada through various media outlets," Alba continued, watching Layton carefully. "On this point, I completely agree with you!"
"Their thinking is outdated, their technology inferior, and they show little respect for workers or personal freedoms. Moreover, many powerful Chinese enterprises are state-owned. As you know, market economies cannot thrive under constant governmental interference."
This sparked Layton's interest. "Precisely! Especially this Li Tang—his rise to prominence seems far too idealistic and mythical. Any rational person can see a large number of state-owned enterprises backing his ascent. Behind those enterprises surely stands a powerful national apparatus."
Layton sneered sarcastically, "Think about it—a twenty-something young man, starting from nothing and becoming one of the richest men globally within a decade, the most influential individual in mining. Does anyone truly believe such a fairytale?"
"I certainly don't," Alba replied seriously. "That's why I'm here, to strategize with you and expose the deception behind Li Tang's mask."
"It seems we're both rational observers, not fooled by propaganda," Layton smiled, feeling camaraderie with Alba.
"Additionally, consider this: the Mary River iron ore project is a $3 billion investment. If successful, it will be Martin's crowning achievement. He'll parade it around as a major foreign investment triumph, boosting his political credentials."
Alba leaned closer, lowering his voice significantly. "The project's success would indeed benefit the economy—jobs, taxes, and all. But if we block it, does that make us villains?"
Layton smiled cynically. "Jobs and taxes—Martin always uses those lines to manipulate public opinion. We need to believe in real, tangible interests instead."
"Excellent!" Alba's smile returned, satisfied they'd reached a common understanding. "Martin is working closely with Li Tang, practically giving him free rein to ensure Mary River succeeds. We must respond decisively and stop this project."
Opposing the ruling party was already the New Democrats' standard procedure. Even without Alba's urging, Layton would have eventually criticized Martin's favoritism toward Li Tang. But Alba's support lent additional strength to their actions.
"Our goals align perfectly," Layton confirmed.
"Rio Tinto will cover all expenses incurred during this campaign," Alba said bluntly, delivering perhaps the most impactful statement of their meeting.
Layton knew political campaigns against major projects easily became financial black holes, swallowing millions of dollars without blinking. But Alba saw this as necessary to curb Li Tang's destructive impact on the iron ore market. The money must be spent!
…
Back in Beijing's Cloud Peak Building, Li Tang invited representatives from three large steel companies—Haigang Steel, Tangshan Steel, and Hualing Steel—to discuss Mary River's development. He sent a short, direct message: "Mary River project progressing well. Let's discuss in person." The same day, Lu Chenyi, Long Fuyuan, and Zhu Youxin flew into Beijing.
"Our feasibility study for Mary River has passed multiple Canadian government reviews, particularly environmental approval, which came back highly favorable," Li Tang explained concisely. "However, passing the initial review is just the first step. We all know Canada's mining approvals are easy to enter but tough to exit. After construction, we must consider the risks—whether environmental inspections will pass and if mining operations could lead to unacceptable pollution."
The three visitors weren't particularly worried about these approvals. Which country would reject a foreign investment of $3 billion? Attracting foreign capital was notoriously difficult; countries practically begged for even a tenth of this amount.
With a $3 billion investment on the table, Canada would surely grant whatever was necessary.
"I reviewed the basics of the project," Long Fuyuan interjected, "An investment of $3 billion to build a mine producing 30 to 50 million tons per year, plus infrastructure—is that correct?"
"Yes," Li Tang nodded. "Mainly, we'll construct an 80-kilometer railway. It's not particularly long, but building on permafrost means extremely high technical requirements and costs. Moreover, we'll renovate the abandoned deep-water port there. To handle tens of millions of tons, potentially up to 100 million tons annually, it's practically like constructing a new large-scale port."
"Given this scale, funding needs are substantial," Zhu Youxin observed.
Everyone acknowledged that Li Tang, despite recent investments totaling around $2 billion into Alcan Group, possessed immense financial capability. At this point, large investments no longer surprised anyone. In fact, Li Tang was becoming Canada's biggest catch in terms of foreign investments, attracting considerable attention and respect.
However, despite Li Tang's repeated successes and enormous wealth, something always set him apart from typical businessmen.
Lu Chenyi looked at Li Tang and suddenly voiced a thought they all held but rarely expressed: "Honestly, Li Tang, you aren't really a businessman. At least, not in the traditional sense. Most businessmen calculate returns, hedging every investment. But you seem driven differently—by exploration, resource discovery, and industrial expansion. Your logic rarely aligns with simple profit calculations. It's as if you're playing a different game entirely."
Long Fuyuan laughed, nodding. "Exactly! He operates more like an explorer or scientist—he seeks resources, finds opportunities, develops them, and naturally, the profits follow. It's never been purely financial for him."
Li Tang laughed along, neither confirming nor denying it. But deep inside, he recognized the truth. He didn't see himself as merely a businessman; he saw beyond immediate financial returns. His goal was larger: discovering, developing, and controlling resources strategically. His satisfaction came from creating something lasting and significant, not merely chasing money.
And perhaps, precisely because Li Tang wasn't purely driven by profit, he achieved what others couldn't. It was a subtle yet profound distinction—a businessman measured everything by cost-benefit analysis; Li Tang, however, operated from a place of passion, intuition, and strategic vision. That difference defined his extraordinary success.
"Building railways on permafrost—our country has the necessary technology!" Zhu Youxin slapped his thigh confidently. "The railway leading to our Tibetan Province is constructed entirely on permafrost, and it was built by Huatie Group. They have world-leading expertise in this field."
"Indeed, railways on permafrost are quite rare globally," Li Tang nodded. "I'm actually considering inviting Huatie Group's construction teams or technical engineers to guide the railway construction at the Mary River iron ore project."
"Excellent idea!" Zhu Youxin said enthusiastically.
Lu Chenyi rested his chin thoughtfully before asking, "With a total investment of three billion dollars, what's your funding plan?"
This question cut straight to the heart of the matter.
Li Tang hadn't summoned these industry heavyweights merely for idle chatter—after all, they were all quite busy people.
"Cold Iron Company can use the mining rights as collateral to secure loans of several hundred million dollars in Canada. Besides that, I'll have to rely on your help."
This was exactly why Li Tang had called these three influential executives.
"You currently hold an 80% stake in Cold Iron Company, and now you're looking to raise over two billion dollars."
"If you hadn't invested in Alcan Group's stock, that money would have been just enough for the Mary River iron ore project."
"Perhaps our domestic banks could assist with some low-interest loans, covering tens of billions; that should sufficiently address the funding gap."
"Our country's foreign exchange reserves are abundant now, and this project is truly worthwhile!"
As everyone exchanged ideas, they revealed their inner concerns openly. Raising over two billion dollars—equivalent to more than fifteen billion yuan—was a significant sum, difficult even for leading steel enterprises like Haigang Steel, Tangshan Steel, and Hualing Steel to assemble quickly.
Li Tang understood everyone's feelings; they were eager to participate in such an exceptional iron ore project but were naturally worried about the enormous funding required.
Steelmakers weren't money-printing machines, nor magicians—they couldn't conjure huge sums instantly. Over recent years, rapid industry development had left many companies heavily indebted due to investments in advanced equipment.
"This project is still in the preparatory stage," Li Tang said thoughtfully, understanding their perspectives. "I invited you here today to familiarize you with the situation first. Decisions can be made gradually; there's no rush. For Cold Iron Company, apart from domestic financing, there are other options. One is listing on the Canadian or other international stock exchanges. Moreover, with iron ore projects currently attracting international investment fervor, financial consortia might willingly invest. As soon as our feasibility study was approved, even Indian steel companies contacted Cold Iron Company, exploring acquisition or partnership opportunities."
India was another major importer of iron ore and coking coal and had a significant steel manufacturing industry. Tata Steel, in particular, enjoyed a strong international reputation and had been highly active in global mining investments in recent years.
Historically speaking, the Mary River iron ore mine eventually ended up controlled and successfully developed by Tata Steel, with most of its iron ore exported to Europe due to proximity.
"Li Tang, don't misunderstand," Lu Chenyi clarified after much discussion. "Our Haigang Steel definitely intends to invest in Mary River iron ore—two billion, three billion dollars, it's all within consideration! Owning and developing our own high-quality iron ore with such favorable conditions is a rare opportunity."
"I recall the production cost at Mary River is less than half the international average," Long Fuyuan added, giving himself a convenient rationale. "I fully agree with Chairman Lu. Tangshan Steel will also invest!"
"Hualing Steel certainly has the capability to secure sufficient funding; naturally, we will also invest," Zhu Youxin quickly stated. "But you must give us some time—after the New Year, things will be clearer."
This was precisely the kind of project they had eagerly anticipated and would never willingly miss.
Just then, Dai Yingchi knocked and entered the room. After hesitating slightly, he handed Li Tang a document, whispering, "An urgent file just arrived from Canada."
After delivering the message, Dai Yingchi didn't leave but stood quietly aside.
"Hmm." Li Tang sensed from Dai Yingchi's tone that it wasn't good news but still managed to offer a faint smile to Lu Chenyi and the others.
Then he glanced down at the file.
It concerned the Mary River iron ore project and contained highly troubling information!
"Heh." Li Tang finished reading and pulled at the corners of his mouth, producing an odd smile.
"What's the matter?" Lu Chenyi rarely saw such a sarcastic expression on Li Tang's usually optimistic face.
"You three should take a look," Li Tang said, handing them the document. Turning toward Dai Yingchi, he asked, "Is there a video report available?"
"The video has already been forwarded here. If needed, I can have a projector set up in the conference room immediately," Dai Yingchi replied promptly.
"Play it," Li Tang decided he wanted to see for himself.
With the curtains drawn, the conference room darkened, and the projection screen began to play Canadian TV news.
The figure on-screen passionately delivering his speech was none other than Layton, a Canadian politician known for his hostile attitude toward China.
"The Mary River iron ore project isn't merely commercial investment—there are many hidden conspiracies behind it!"
"Li Tang isn't a businessman at all!"
"He's only twenty-six years old. How could he become the richest man in that country? It's simply a nation piling wealth upon him for some hidden purpose. Please, everyone, open your eyes and see the truth!"
Besides Layton's wild conspiracy theories targeting Li Tang and the Mary River project, Canadian government officials also appeared on-screen, making succinct yet alarming remarks:
"Canada's Arctic region is strategically vital. Whether it's Li Tang or the powers behind him, their true intentions in investing in Mary River remain highly questionable!"
Snap!
Dai Yingchi shut off the projector and reopened the curtains before speaking again, "This program and its statements have triggered a huge uproar across Canada. Several groups have openly stepped forward, publicly opposing Cold Iron Company and the Mary River iron ore project."
Lu Chenyi, who had been previously enthusiastic about Mary River, felt as though a bucket of cold water had been dumped over him upon hearing this news. The setback was undoubtedly greatest for Li Tang.
Yet, when he glanced toward Li Tang, he saw him smiling.
"What are you smiling about?"
"The world is truly a strange place," Li Tang remarked ironically. He found these Canadian politicians absurd. Yet, despite their absurdity, politicians like these could sway public opinion and twist facts significantly.
"What do you plan to do next?" Lu Chenyi asked directly.
"I'll visit Canada personally and handle these troublemakers. Once I settle this matter, I'll return and discuss further cooperation with you three leaders." Li Tang stood and gave a slight bow, sincerely apologizing, "I'm sorry, gentlemen. This matter arose due to my oversight and simplicity in planning, causing you the trouble of this unnecessary journey."
Long Fuyuan waved dismissively, not accepting Li Tang's apology. "You're being overly formal. Whether there's trouble or not, if you call, I'll be here."
"Such public sentiment could pose a significant risk to you!" Zhu Youxin grew genuinely concerned for Li Tang's safety. "The last time you were arrested in Canada clearly showed that their judicial system isn't fair to us. Going there now is like stepping into a lion's den!"
Li Tang, however, had already resolved himself. He said calmly, "Layton has slandered me all year across TV and newspapers. I must meet him face to face—I want to see if he can still spout such nonsense in person."
Li Tang knew that failing to silence these public accusations would jeopardize not just the Mary River project but also future large-scale investments like the MacMillan Pass coal project. Removing political obstructions like Layton now was critical to paving a smooth road for all his future Canadian investments.
This trip to Canada was absolutely necessary.
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