Chapter 312: A Good Mining License
Li Tang quickly returned to Yanjing.
The major shareholders of Zhongcheng Mining were preparing to convene another board meeting.
Since last year, coal prices had continued to soar. Even slightly decent thermal coal was consistently priced above 270 yuan per ton, while premium coking coal had surged even higher, approaching 400 yuan.
Despite Huaxia being a major industrial nation with abundant coal resources, it still imported tens of millions of tons of premium coking coal annually from countries like Australia and South Africa. As steel demand continued to rise, imports only increased further.
"When I visited Kulun a couple of days ago, Bayar, the Minister of Industry and Trade in Mengguo, sought me out and invited me for a meal of boiled mutton," Qin Jianshe mentioned cheerfully. Recently, his work had been going smoothly, and he was in high spirits. Before the formal start of the meeting, he shared an anecdote from his recent trip. "Bayar had a few shots of liquor and started complaining to me."
"What kind of trouble did they run into this time?" someone asked curiously.
"Actually, it's not a major issue—it's about the Talego coal mine."
"What happened?"
Everyone immediately became attentive. After all, the Talego coal mine directly impacted their own interests. It would be problematic if Mengguo stirred up unnecessary trouble again, delaying project construction.
"The Mengguo parliament recently went crazy. The various political factions argued furiously—some even came close to physical altercations. If not for others intervening, punches would've actually been thrown," Qin continued without pausing too long. "Ever since signing the joint development agreement with us and using the Talego coal mine as their stake in Southern Wilderness Resources, international coal prices have skyrocketed. Coal mining licenses that previously seemed worthless have suddenly become highly coveted."
"Given the current coal prices and the Talego coal mine's reserves exceeding six billion tons—including approximately 1.8 billion tons of premium coking coal—calling it highly desirable would be an understatement. It's literally a goldmine!"
"These days, mining coal is as easy as printing money. Just look at the coal bosses in Shanxi Province or Inner Mongolia—all smiling from ear to ear. People are literally lining up at mine entrances with bags full of cash, ready to buy whatever coal emerges."
"The sharp rise in iron ore and coal prices is closely linked. Booming steel demand isn't just policy-driven—it's also a clear market signal."
"Suddenly, coal mining feels even more attractive than copper!"
"Shenxia Group is going to soar. Half of the country's top-ten coal mines belong to Shenxia. They're practically printing money."
At the mention of coal, the room buzzed with excitement.
Li Xingchao sat sipping tea, inwardly delighted. Over the past two years, all his coal mines had become huge money-makers. Companies previously surviving on government subsidies had transformed overnight into major local taxpayers—a sudden change that still felt surreal.
Sometimes, he wondered: was Shenxia Group really becoming an overnight tycoon?
With more cash in hand, ambitions inevitably grew. He even considered securing sole operating rights for the Talego coal mine, allowing Shenxia Group exclusive management.
They had sufficient capital, technology, and expertise to develop a mine with annual output exceeding 50 million tons. Especially tempting was Talego's premium coking coal—like a richly adorned beauty, reclining gracefully, waiting to be admired.
"Is Mengguo parliament stirring trouble again?" Li Xingchao asked cautiously.
"The contract is already signed. They can't just back out," Qin assured confidently. "Just some lawmakers feeling regretful about handing over such a valuable coal license—worth hundreds of billions in U.S. dollars—to us. Those originally against the deal are now gloating and criticizing its supporters. Mengguo's parliament is small in numbers but has plenty of factions. They fight almost daily."
"Ignore their infighting, as long as it doesn't affect project progress."
"The contracts are signed. If anyone attempts sabotage now, they'd better reconsider carefully! The Talego copper-gold and coal mines aren't just ordinary deals anymore. The higher-ups are closely watching; these projects can't afford mistakes!"
Just as the conversation continued, Li Tang entered the room. Everyone had already gathered, leaving only his seat vacant.
All eyes followed him as he walked. Without hesitation, he took his seat at the head of the table.
Niu Fu cast a brief glance at Li Tang, silently noting the young man's growing authority. Without further comment, he announced in a deep voice, "Everyone's here."
"I've been away from the Talego project for a while and just checked the documents again, which delayed me," Li Tang briefly explained.
"Your timing is perfect," Chen Jinghe responded understandingly.
Without any further formalities, Niu Fu began speaking. "This year, global copper demand has surged significantly, yet supply growth remains slow, steadily widening the copper deficit. International copper futures prices have stabilized above 3,000 USD per ton, peaking over 3,100 USD."
Scanning the room full of industry leaders, Niu continued earnestly, "Domestically, our rapid copper demand growth has significantly driven global industry developments."
"Our growth rate far exceeds international averages," Chen Jinghe agreed emphatically.
"Regardless of international or domestic copper prices, for the sake of national development and broader national interests, we as copper enterprises must shoulder greater historical responsibility! It's crucial we manage our copper production effectively and never let economic progress stall because of us!"
Niu Fu's authoritative voice easily commanded the room: "Both the Nonferrous Metals Association and related government departments hold high hopes for us, clearly stating the importance of developing the Talego copper-gold mine!"
Li Tang's ears buzzed with the speech. Niu Fu clearly demonstrated his background as the general manager of the Wukuang Group, eloquent in delivering impressive but somewhat empty statements. Ordinary private enterprise owners rarely spoke this way.
After the opening speech, Qin Jianshe shifted to the main topic. "Throughout the first half of the year, shareholder representatives have regularly visited to oversee project updates. Li Tang has been frequently abroad, thus less involved recently."
He glanced briefly at Li Tang and explained specifically, "Initially, the project's total budget was 15 billion yuan. However, since securing the coal mining rights—whether developed concurrently or sequentially—we must reserve sufficient resources for coal production. Therefore, we need to significantly scale up our construction: doubling power plant capacity, water pipeline throughput, and railway infrastructure to accommodate both mines…"
After elaborating extensively, he summarized clearly for Li Tang, "Thus, our total budget has increased from the original 15 billion yuan to 28 billion yuan."
"I'm aware," Li Tang nodded calmly. Everyone had known about this decision in advance.
"The key now is officially approving the revised budget," Qin concluded, aware Li Tang's stance would prove decisive. Although Li Tang Prosperity Holdings currently only held a 17% equity stake in Zhongcheng Mining, Li Tang personally retained 34% voting rights—still enough to veto critical decisions.
"I agree," Li Tang responded immediately, then raised a crucial question: "Previously, shareholder funds plus bank loans totaled 15 billion yuan. How will we fill the remaining 13-billion-yuan gap?"
This was the real issue. If the gap required additional investment from state-owned shareholders, Li Tang's equity in Zhongcheng Mining would inevitably dilute further.
Clearly, other shareholders preferred this option, as they had accumulated substantial cash reserves over the past two prosperous years. Investing surplus capital into such promising projects was ideal. Who wouldn't want a larger stake? Everyone recognized Talego's copper-gold and coal mines as lucrative golden geese.
Suddenly, Li Xingchao raised his hand. "I've had an idea for a while, which I haven't shared until today. Since Li Tang is here, let me propose it openly."
"What's your suggestion, Mr. Li?" Li Tang turned his attention towards him.
"The project still requires an additional 13 billion yuan, with no clear financing plan yet." Li Xingchao scanned the room, smiling warmly. "My proposal is simple—Shenxia Group will provide this funding."
Such generosity immediately raised suspicion rather than excitement among the shareholders.
"You're certainly wealthy, Mr. Li, but your generosity makes us uncomfortable," Feng Sinian from Jiujiang Copper cautiously replied. Everyone understood that fully covering this remaining sum would grant Shenxia Group at least an additional 30% stake, easily making them the largest shareholder in Zhongcheng Mining. Clearly, many shared similar ambitions.
"Here's my reasoning," Li Xingchao explained calmly. "Shenxia Group specializes in coal mining. Developing and operating the Talego coal mine requires a highly experienced and professional team—which we have ready. We'll cover the extra 13 billion yuan. In exchange, we seek exclusive rights to manage the coal mine."
"You want exclusive rights to the coal mine?"
"Of course, we're not taking it for free. We'll regularly pay Southern Wilderness Resources a significant royalty fee," Li Xingchao chuckled, feeling quite pleased with himself. "We'll pay Southern Wilderness Resources 3% of the coal mine's total annual sales as the royalty!"
"Three percent?"
"President Li, that's a rather creative idea."
"If we did that, we'd just sit back, relax, and collect money without doing anything."
"It's not like we lack the ability to develop the coal mine ourselves."
On the surface, everyone laughed politely, but inwardly, they were cursing.
Li Xingchao certainly had a beautiful plan.
But everyone was clearly thinking about the crucial point—what if Li Tang actually supported Li Xingchao's proposal?
Everyone knew that Li Xingchao was Li Tang's father-in-law, and it was natural for him to help his own family. Moreover, Li Tang had significant decision-making power. Without his support, many resolutions couldn't pass smoothly.
So everyone turned their gaze toward Li Tang.
The stance of everyone else was already clear—they wouldn't agree to Li Xingchao's proposal. Only Li Tang's attitude remained uncertain.
Niu Fu also turned to Li Tang. "Let's hear your thoughts first. Everyone respects your decision."
Li Tang felt awkward. He couldn't easily agree with Li Xingchao, nor could he outright reject him.
Deep down, he certainly didn't agree with Li Xingchao's idea. Shenxia Group would gain far too much benefit from such an arrangement.
This was a loaded question, akin to the classic dilemma: "If your mother and wife both fell into the water, who would you save first?"
"It's not about us agreeing or not. Even if we approved this idea, Mengguo would never consent," Li Tang replied carefully, pushing the responsibility onto Mengguo. He wasn't going to carry this blame. "Our contract with Mengguo explicitly states that Southern Wilderness Resources must develop and operate the Talego copper-gold mine and coal mine itself, and profits are distributed based on shareholding proportions."
He looked directly at Li Xingchao and explained slowly, "If we subcontract coal mining rights again and earn royalties, Mengguo definitely won't agree. They expect future dividends from Southern Wilderness Resources for their own wealth and prosperity, and they won't settle for a mere 3% royalty."
Qin Jianshe quickly joined in agreement. "Mengguo's parliament is already in chaos. If we propose such a model, it would give them grounds to reclaim the mining license. I've heard some legislators are already shouting for the licenses to be taken back. Some are even loudly accusing others of cheaply selling off the country's mineral resources."
"We could still discuss it," Li Xingchao suggested, realizing no one would easily agree.
"We indeed need Shenxia Group's considerable assistance in coal mining, and you play a critical role within our team," Qin Jianshe explained diplomatically. "But this operational model would create unnecessary complications for the project."
As General Manager of Zhongcheng Mining, Qin prioritized the big picture. "Right now, the most important task is successfully developing our mining licenses, not internal struggles over mining rights, wasting our energy."
"I didn't intend to create trouble," Li Xingchao quickly clarified. "If everyone disagrees, we can shelve this for now."
"Then regarding the resolution on modifying the project design and overall budget—does everyone agree?" Qin decisively cut to the chase, determined to resolve this matter quickly.
Unsurprisingly, everyone raised their hands in unanimous agreement.
"As for the additional 13 billion yuan, our team will study specific financing plans, and we'll vote on them later," Qin concluded. He wasn't planning to propose a financing solution immediately.
After all, whether it was shareholder capital or bank loans, the earlier 15 billion yuan was still being processed. It couldn't all be resolved instantly.
But Li Tang unexpectedly voiced his opinion, "For the remaining 13 billion yuan, let's try financing it through bank loans. Since coal and copper markets are booming, banks should be eager to help."
"If we rely heavily on loans, interest costs could become burdensome. If production doesn't proceed smoothly, operational pressures will grow significantly," Niu Fu cautioned. His ideal scenario, similar to the previous round, was shareholders contributing additional capital proportional to their shares.
This would allow Wukuang Group to further increase its shareholding. Everyone understood clearly that Li Tang couldn't provide much more funding, ultimately diluting his equity further.
They also understood why Li Tang favored loans.
"With shareholder contributions instead of loans, our risk-bearing capacity is indeed stronger," Chen Jinghe added with a sincere smile.
All shareholders had substantial cash reserves, waiting for suitable investment opportunities. Of course, providing 13 billion yuan at once was challenging for a single company. But given the mining industry's favorable situation, who didn't harbor ambitions?
"I'm just sharing my thoughts. The final financing plan will be Qin's call," Li Tang didn't insist stubbornly. "I'll respect everyone's opinion."
"Alright, anything else?" Niu Fu glanced around the room. Today's gathering mainly focused on approving the increased 28-billion-yuan budget. That vote was already complete. It was just a formality—no one would object.
"There's something I'd like to discuss," Li Tang suddenly spoke up.
Everyone looked at him curiously.
"I always enjoy discussing mining matters with Li Tang," Cheng Muye perked up.
"A few days ago, I had a long talk with Mr. Niu, and our discussion focused on you," Chen Jinghe said, smiling at Li Tang. "Your exploration expertise and insight into the mining market are truly outstanding. Everyone here knows your remarkable achievements."
"Lianying Mining's market value is now around thirty or forty billion!"
"The person sitting before us isn't just any ordinary individual—he's a billionaire worth over ten billion!"
"If people saw you walking down the street, they'd never imagine such an immense energy hidden behind this youthful face."
"Our company has many young employees about Li Tang's age, most wasting time aimlessly, lacking ambition. They should see Li Tang's success; he's truly representative of this generation!"
"Now the entire steel industry is eager to win Li Tang's favor, but most can't even find a way to reach him."
"Lianying Mining has already partnered with major state-owned enterprises like Hai Gang Steel and Hualing Steel."
"Lianying Mining has certainly attracted attention lately. But recently, I saw news saying Li Tang discovered a new iron ore deposit of two billion tons in Simandou, Guinea."
At the mention of the new deposit, everyone stopped chatting, once again focusing their gaze intensely on Li Tang.
Finding new deposits, especially when Li Tang was involved, seemed highly credible. After all, the global mining market was heavily focused on iron ore—always in high demand.
"What I want to discuss is precisely the Simandou iron ore in Guinea," Li Tang took the opportunity to continue the topic. "I wasn't aware of such media reports. Obviously, we haven't given interviews or publicly announced anything. After all, Li Tang Prosperity Holdings isn't a publicly listed company."
"Foreign media reported it first; then domestic media followed," Chen Jinghe noted. Purple Mining, now listed in Xiangjiang, closely followed international mining developments, always seeking global investment opportunities.
"Foreign media loves reporting news about you—you might not even realize!"
"Lianying Mining is indeed a unicorn company in the international mining industry."
"So, tell us about the Guinea iron ore situation. The newspapers made it sound quite sensational—is it true?"
State-owned companies like Wukuang Group, Purple Mining, and Huajin Corporation generally pursued conservative, stable business strategies. They avoided high-profile moves like Lianying Mining—partly because it was publicly listed, partly because Li Tang frequently appeared on international headlines.
Talego copper-gold mine, Pebble project, Pilbara iron ore deposits… each attracted substantial attention. Especially Li Tang—once he achieved something, it always made headlines.
Notably, the Pebble project in Magnesium country had proven to be a uniquely massive polymetallic deposit, considered the world's largest by total metal content, valued at trillions of dollars. Financial and mining circles in Magnesium constantly highlighted it.
Notably, this deposit had once been controlled by Li Tang, who later sold his shares to Rio Tinto for 330 million dollars.
Now, Pebble's investors included Rio Tinto, Eagle Magnesium Resources, and Freeport Copper-Gold Company. Experts anticipated successful development, predicting Pebble would become Magnesium country's largest mine. They claimed Li Tang severely underestimated its value, missing enormous profits.
Li Tang ignored external opinions, focusing solely on his tasks, past and present.
Seeing everyone's curiosity, Li Tang asked, "Do we have any newspapers on this?"
"Yes, our company subscribes to mining-related publications. I'll get them," Dai Yingchi quickly stepped out, returning shortly with a copy of Nonferrous Metals Daily.
The report quoted extensively from Gaguo Post, discussing the iron ore market and Simandou's potential—highlighting a supposed two-billion-ton reserve.
Li Tang shook his head slightly, "This is exaggerated reporting. We did discover iron ore in Guinea, but haven't confirmed accurate reserves yet. Our exploration remains in preliminary stages."
"So the two-billion-ton reserve is fake news?" someone asked.
"Basically, yes," Li Tang clarified. "Some newspaper details aren't reliable. But the Simandou deposit indeed has extremely high-grade ore—60% to 75%, averaging around 66% to 68%. Such high quality is genuinely unparalleled globally."
"The grade is that high?" Niu Fu was astonished. Typically, international iron concentrates for blast furnaces averaged around 60%. With grades over 66%, if impurities were low, mined ore could be sold directly at premium prices.
Such deposits offered massive cost advantages, making them exceptionally valuable.
Once extracted, the ore would require minimal processing before being sold directly, commanding a premium price. Such a business was practically like lying down and counting money.
"The Simandou iron ore deposit has an even higher grade than many deposits in Pilbara, southern Australia—high in iron content and low in sulfur and phosphorus," Li Tang answered, meeting everyone's eager expectations.
Upon hearing this, interest around the table intensified.
"As for reserves, two billion tons sounds exaggerated. With such a high grade, such huge reserves might seem unrealistic."
"If the reserves are decent enough, this iron deposit would still have enormous development value."
"The critical issue is infrastructure near the mining site. That's the biggest challenge."
Listening to the discussion, Li Tang spoke frankly: "Simandou is located inland in southeastern Guinea, far from the coastline, and the infrastructure is very poor. That's indeed the biggest problem."
"What about the reserves?" someone quickly interjected. "If the reserves are sufficiently large, then any infrastructure challenge could be overcome."
"Accurate reserves haven't been fully established yet."
Li Tang had already prepared for this. He signaled Dai Yingchi to operate the computer, projecting a geological map of Simandou on the screen, and began his explanation:
"Starting from the Nimba Mountains on the border between Guinea and Liberia and heading north, there's an elongated geological formation called the Simandou Formation, rich in hematite. We drilled a few sparse exploratory holes along this narrow geological formation. Even though the drilling density is low, every hole hit mineralization."
Having briefly explained the geological context, he moved his gaze away from the screen and clarified:
"Claiming Simandou has reserves of two billion tons isn't accurate. The figures we currently have are inferred resources from preliminary exploration. Indeed, preliminary estimates indicate about two billion tons of inferred resources."
Chen Jinghe, familiar with exploration practices, immediately understood Li Tang's point and explained to others: "To establish precise reserves, detailed drilling is required to increase density between exploration holes."
"Inferred resources of two billion tons—does that mean reserves could potentially reach two billion tons?"
"It's possible," Li Tang confirmed.
"Two billion tons of high-grade iron ore—that's enormous!"
"Lianying Mining attracted international media and investors, its stock price surged dramatically, and now has a market cap of thirty to forty billion, with iron ore reserves around two billion tons as well!"
"Lianying Mining's previously published iron ore grades averaged between 40% and 50%, considerably lower than Simandou!"
"This could be an upgraded version of Lianying Mining!"
In just a few words, everyone visualized an enormous new business opportunity, feeling chills down their spines. Given international investors' enthusiasm for iron ore enterprises, this mining license had immeasurable potential value. The current share price of Lianying Mining—already a rare unicorn in the mining sector—was sufficient proof.
Lai Xiangrong, usually quiet, slowly set down his tea mug, wrinkles visible yet eyes sparkling: "Guinea is the world's largest producer of bauxite. Our Hua-Aluminum Corporation is currently entering Guinea for bauxite mining. Joining the Simandou iron ore project along the way would make perfect sense."
"Our Jiujiang Copper is also expanding its business—iron ore mining is certainly within our investment plans," Feng Sinian said eagerly. He still regretted investing too little in the initial phase of the Talego copper-gold mine, vowing not to miss another such chance.
"Our Shenxia Group also owns iron mines. Although relatively small and unknown, we have experience in iron ore mining operations."
"Can mining iron ore be harder than gold mining? Honestly, our Huajin Corporation is also quite interested in iron ore."
"In the past couple of years, Luoyi Molybdenum has greatly improved its financial strength and management capabilities thanks to Kunshang Group's investments. We've been seeking opportunities abroad and have investigated projects in Africa. Actually, we've already started operations in Guinea!"
Discussion broke out among everyone.
A good mining license was critically important.
A good mining license was exceptionally rare.
Especially in this current market, as international mining moved from a harsh winter into a blossoming spring, every enterprise felt energized, eager to expand and find more opportunities.
More importantly, with substantial cash reserves on hand, ambitions naturally grew. And this was a project proposed by Li Tang himself!
Until now, every exploration project Li Tang had launched resulted in globally significant discoveries. This Simandou iron ore, although not yet physically assessed, enjoyed everyone's complete trust.
Lianying Mining was already proof of Li Tang's extraordinary capabilities in iron ore mining. They'd all heard that many steel companies wanted to invest in Lianying Mining but hesitated, missing their chance. The optimal opportunity was fleeting. Industry insiders were currently discussing how Hai Gang Steel and Hualing Steel had missed the best investment window—when Lianying Mining's market value was around ten billion Australian dollars. In a blink, its value had skyrocketed to seventy or eighty billion. Investing now would cost multiple times more.
Opportunities belong to those who come prepared.
Seeing everyone start arguing energetically, Li Tang calmly poured cold water on their enthusiasm:
"The prospects for Simandou's development are actually quite grim."
"How so?" Niu Fu asked, genuinely surprised. Everyone had heard sellers praising their products, but never a seller criticizing his own offering.
"Simandou is located inland with no existing infrastructure. More importantly, Guinea's political environment is highly unstable," Li Tang spoke truthfully. "This situation is fundamentally different from the Pilbara region in southern Australia."
While Australia had high labor costs, it undeniably provided a stable mining environment with robust laws and minimal instability.
Guinea, by contrast, was unpredictable. The president could suddenly be ousted, with armed groups storming into the presidential palace and forcibly reclaiming the mining rights.
"What do you mean, then?" Lai Xiangrong asked, slightly confused.
"I raised this topic today mainly to see if any of your companies would be interested in partnering with us for further exploration," Li Tang explained directly. Precisely because of Guinea's instability, he sought partnerships with state-owned enterprises.
Another reason was that Li Tang had seized half the exploration rights from Rio Tinto when their prospecting license briefly lapsed. His methods had been somewhat unorthodox, leaving potential vulnerabilities if Rio Tinto or others investigated later.
Partnering with state-owned enterprises would significantly mitigate those risks. In capitalist nations like the United States or Australia, partnering with state-owned enterprises could be restrictive, but in Guinea, it offered political and operational advantages.
Different environments required different strategies.
"Our Hua-Aluminum Corporation truly intends to operate in Guinea anyway; this project aligns perfectly!"
"Our Tongdu Nonferrous Group also plans to expand into Guinea!"
"Our thinking is aligned!"
...
Hai Gang Steel had recently allocated increasing funds to their exploration department. Department head Qu Yong'an finally received recognition and frequent personal attention from Chairman Lu Chenyi.
"Chairman Lu, I've confirmed the matter you asked me to investigate!" Qu hurriedly entered Lu's office.
Lu Chenyi looked up immediately. "Sit down first."
Qu took a seat without hesitation and got straight to the point: "Reports both domestic and abroad regarding Li Tang discovering a super-large iron ore deposit in Guinea are basically accurate!"
"Really?" Lu Chenyi sat up abruptly. "Two billion tons with an average grade of 67%?"
Steel enterprises closely followed iron ore production, deeply familiar with technicalities. Hai Gang Steel had long experience in exploration and iron ore mining. However, since iron ore production generated minimal profits during the 1990s and early 2000s, they'd largely stopped domestic mining, importing instead due to port advantages.
Now, soaring iron ore prices dramatically shifted their priorities back to upstream mining operations.
"The story is true, though news details contain some inaccuracies," Qu explained cautiously.
"What inaccuracies?" Lu was eager. Having missed Lianying Mining's best investment opportunity, he felt angry yet regretful. However, he knew opportunities remained.
Seeing Li Tang's name in connection with a newly discovered 2-billion-ton iron ore deposit signaled another chance right in front of him.
Would he seize it?
This time, he wouldn't hesitate.
"The average grade of 67% hematite is accurate. I obtained preliminary data from technicians at Li Tang Prosperity Holdings. But their exploration remains at a preliminary reconnaissance stage, lacking detailed exploration drilling. Thus, reserves reported are inferred, not confirmed," Qu explained clearly.
"But the license is authentic?" Lu confirmed again.
"Absolutely authentic," Qu firmly replied.
"Immediately contact Li Tang and invite him to Haigang city!"
"For what reason?"
"Say I invited him to tour Haigang, seeing all the sights!" Lu said initially, but then reconsidered. Knowing Li Tang wasn't interested in leisure, he quickly corrected himself:
"Actually, tell Li Tang I have new ideas for cooperation on Lianying Mining. Additionally, inform him that if higher authorities won't approve the low-interest loan, Hai Gang Steel is willing to provide loans directly from our own funds!"
...
Li Tang had spent considerable time discussing cooperation with Zhongcheng Mining's shareholders. Despite everyone's enthusiasm regarding Simandou, no definitive plan had emerged yet.
Morally, Li Tang always considered the well-being of his partners. Simandou seemed enticing, but it was a thorny rose. Should they invest heavily in exploration and development? How to develop it? These issues needed careful thought.
He still lacked a clear plan, mainly fearing his investment there might come to nothing.
Dai Yingchi suddenly ran in. "Hai Gang Steel called—they couldn't reach your office line."
"What's up with Hai Gang Steel?" Li Tang asked, puzzled.
"They invited you to Haigang city to discuss the loan."
"Loan? Wasn't it blocked?"
"They're willing to lend directly from their own funds."
"What?" Li Tang felt disbelief. "Is this real?"
"It was genuinely Hai Gang Steel."
"Okay," Li Tang nodded, still surprised.
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