Chapter 359: There's Only One Mineral Right—No One Else Stands a Chance
Alice received a call from her father, Cristobal.
"The Kakula Copper Mine project is real. Li Tang brought back detailed project information, and our technical department is currently discussing plans for the next phase. Meanwhile, our investment division is planning the next round of funding."
"You're working for Freeport Copper & Gold Company, and I'm employed by Li Tang Prosperity Holdings. Yet you keep asking me for inside information about our company—that's inappropriate!"
"This will be the last time. In the future, I won't share company details with you anymore!"
"You claim Li Tang is friendlier than me? Then contact him directly! You called him first, yet you didn't trust what he said, so you called me afterward to extract even more confidential business information."
"If you want to get angry, go ahead. Anyway, your actions upset me too."
After rapidly firing off her words, Alice irritably tossed the phone aside and raised her head to look at Li Tang, sitting opposite her.
"My father always behaves this way. Previously, he constantly inquired about the operations of Lianying Mining, and now he's probing me about Kakula Copper Mine's internal details."
She was explaining this to Li Tang to avoid any suspicion. "Whether he's my father or someone else, I'll never casually disclose confidential information."
"Actually, Kakula Copper Mine's specific data has already been publicly released. The outside world already knows about it, so there's no real secrecy involved. Your father called mainly because he's happy for us and wanted to congratulate us."
Li Tang laughed lightly, clearly unconcerned about such minor details. "But the next phase of exploration will still require tens of millions of dollars."
He unfolded a geological map in his hands, showing it to Alice. "The discovery of Kakula Copper Mine confirms our theory. The Central African Copperbelt doesn't end at Kakula; it's merely covered by shallow desert sand. Moreover, following the mineral trend northwest, we've found the ore layers continuous. This means additional ore bodies, possibly multiple deposits, could exist further northwest."
After explaining for a while and receiving no response, Li Tang looked up, staring directly into Alice's eyes, saying seriously, "The next exploration phase requires around fifty to sixty million dollars. Part of the funds will be used for deeper exploration at Kakula, but most will go toward identifying new deposits. We're confident we'll find even more substantial discoveries!"
Still getting no reply from Alice, Li Tang blinked, assuming she had zoned out. "Did you understand what I just said? You have to approve this funding request."
Alice was essentially the Chief Financial Officer of Li Tang Prosperity Holdings, responsible for finances and investment approvals. Her responsibilities were even heavier than Li Tang's.
Moreover, the company had established rules that large investment projects required Alice's approval. Even if Li Tang personally championed a project, he still had to secure Alice's consent. This mechanism was intended to prevent reckless spending and impulsive investments, adding another layer of oversight to safeguard company resources.
However, until now, Alice had never rejected any project proposed by Li Tang, as every project he recommended invariably succeeded.
"Are you sleeping with your eyes open?" Li Tang laughed as Alice continued staring at him blankly.
"You're amazing!" Alice suddenly exclaimed, eyes sparkling with admiration and warmth.
Ever since returning from the Spring Festival break, when she had impulsively pinned Li Tang onto the sofa in his office and forcefully kissed him, Alice seemed to have unleashed her inner passion completely. If Dai Yingchi hadn't knocked at the door at that crucial moment, who knew what might have happened next—most likely, Li Tang's chastity would've been in real danger.
Li Tang nervously avoided looking directly into Alice's eyes, sensing her unabashed desire.
"We're talking about investments here. What's on your mind?"
"You're incredibly charming! You're the world's greatest investor and most exceptional geologist. Every time I watch you working so seriously, I'm completely captivated."
Alice's words veered wildly off-topic.
"I'm warning you, behave yourself!" Li Tang genuinely worried Alice might jump him again, unleashing yet another ruthless assault. Last time it was Dai Yingchi who interrupted them; next time, who knew who might walk in? Romantic entanglements among senior management could easily lead to internal gossip and damage company morale.
"Please seriously consider this investment. If you agree, we'll start immediately. In the second half of the year, our main objective is to discover another significant ore body near Kakula Copper Mine!"
Seeing Alice's increasingly bold gaze, Li Tang quickly gathered up the geological map and hurriedly left her office.
"You only ever think about work!" Alice murmured, half-irritated, half-amused.
"Oh, there's another thing," Li Tang suddenly returned, smiling slightly at Alice. "Your company-rewarded villa has been fully renovated and is ready for occupancy. There's a large lawn out front, and if you like swimming, we can build a swimming pool—just coordinate with the logistics department."
"I've already seen it; it's a huge house," Alice seemed indifferent. "Living there alone would be lonely and depressing. If you truly wish to thank and reward me, just come visit occasionally. I don't care much about material possessions, but my heart feels empty. Only you can add color to my life."
Li Tang glanced around carefully outside her office. Confirming nobody was around, he sternly reminded her, "Remember, I'm your boss. Be careful what you say!"
"Got it, boss," Alice made a playful face.
"I bought another villa near yours, identical in design and close by. We'll be neighbors, so we can occasionally drop by each other's places."
Leaving Alice's office, Li Tang headed directly to Zhongcheng Mining's offices downstairs. As soon as he entered, he noticed bustling activity inside.
"You're finally here!" Qin Jianshe quickly approached.
"What's happening here? I didn't hear Zhongcheng Mining was holding a board meeting today," Li Tang noticed many familiar faces inside the lounge. "Everyone showed up?"
"They first went upstairs looking for you, saw your office locked, and all came down here, demanding I call you immediately," Qin Jianshe explained, somewhat overwhelmed by the many industry heavyweights who couldn't be ignored.
"I just returned from Africa after months away. I was hoping to rest a bit at home."
Living alone and unwilling to cook, Li Tang had casually dropped by the company cafeteria for lunch and briefly visited Alice to discuss funding matters. He had no intention of officially working today, so his office naturally remained empty. However, he never anticipated Lai Xiangrong, Chen Jinghe, Cui Mingyuan, and others would directly come to Cloud Peak Tower seeking him out.
"They all insist on meeting you, but your phone was off, causing them a lot of anxiety," Qin Jianshe frowned helplessly.
"My phone number was leaked somehow, and mining companies from overseas kept calling me, oblivious to time zones, disturbing my sleep. To avoid further annoyance, I simply turned off my phone these days."
Li Tang waved at Qin and walked into the lounge. "I'll chat with them. They're all friends; I can't just ignore them."
"Li Tang!"
"You finally showed up!"
"Knowing you were back in China, I came to Yanjing three days early, waiting here every day. Instead of finding you, I've been freeloading meals in your company cafeteria!"
"Recently, you secretly went abroad for projects without involving us!"
"In Canada, you found a coal mine with billions of tons in reserves—lots of coking coal too. I was anxious, wondering why you started working without discussing with us!"
"And there's that Mali River Iron Ore Project too. Media said it has massive reserves. But no news has emerged for months now."
Everyone chimed in excitedly, chatting energetically with Li Tang. The casual conversation quickly turned loud and lively, as these usually dignified leaders behaved like excited elders.
Chen Jinghe briefly greeted Li Tang but gave up speaking further, realizing his voice was lost in the noisy chatter.
Before Li Tang could respond, another voice called out from behind: "You're all here? When I usually invite you old friends to Yanjing, you always say you're too busy. Now Li Tang's back, and you're all flocking here without needing an invitation—some even arriving days early!"
Niu Fu from Wukuang Group arrived casually, knowing he'd easily meet Li Tang, so he felt no rush.
Executives of Zhongcheng Mining's shareholder enterprises had all assembled. Even non-shareholders close to Li Tang, such as Liu Jianglong from Hongda Group and Yu Yong from Yinshang Group, were present, alongside new faces like Wang Wengen from Zhengwei International Group. The entire Zhongcheng Mining office area was overflowing with distinguished guests.
"Why did everyone come today?" Li Tang glanced around at the familiar faces, guessing the reason. "Is it due to rising copper prices or the Kakula Copper Mine project?"
"Look at you, I'm not so mercenary," Lai Xiangrong smiled warmly. "I just haven't seen you in a long time and wanted a friendly chat. An old friend gifted me a rare tea, and I brought it to share. When you have time, let's drink tea and catch up."
Chen Jinghe, straightforward and practical, said clearly, "Everyone's heard about Kakula's massive high-grade copper discovery and learned you just returned, so we specifically came to discuss it with you."
Realizing many had coincidentally converged with the same intention, Li Tang invited everyone into the large conference room.
Facing everyone's eager anticipation, Li Tang confirmed firmly, "The Kakula project indeed uncovered a unique, giant, high-grade copper deposit, shallowly buried with abundant surface exposure—ideal for open-pit mining."
This affirmation stunned everyone present—the media reports were fully accurate.
"The discovered copper deposit currently totals about 20 million tons, averaging 5% in high-grade sections and 2.5% overall, calculated using a 1% cut-off grade for economic considerations. However, using China's domestic standards—a 0.3% cut-off and 0.5% industrial grade—the total reserves would be even larger. Additionally, the northwest holds significant exploration potential, promising further discoveries to substantially increase total reserves."
In one breath, Li Tang laid out the project's essentials clearly.
These figures had been reported in the media, and everyone present had already heard about them to some extent.
However, when these exact numbers came from Li Tang's own mouth, the meaning instantly changed.
No one in the room doubted Li Tang's words.
They were all here precisely because they trusted Li Tang completely!
Previously uncertain information had now been confirmed.
The atmosphere in the room instantly grew lively again, with many people visibly excited.
Understanding their excitement, Li Tang addressed them directly, "I understand everyone's feelings. Copper prices are soaring; in just one year, copper prices have leaped from around $3,000 USD per ton to a historic high of $8,000 USD. Copper mine developers have become the greatest beneficiaries of this."
When Li Tang began speaking, everyone quieted down immediately, clearly valuing his views and opinions.
"But let me remind everyone: the current copper price spike to $8,000 is driven by temporary market conditions. There's a global shortage, yes, but this won't last forever. It won't be long before copper prices experience a correction."
Li Tang continued firmly, "Of course, looking further ahead—five or even ten years from now—the copper mining industry will undoubtedly remain an evergreen sector. Globally, copper is inherently scarce. Take military production of ammunition as an example: copper makes superior bullet casings due to its ductility, yet in our country, we've been forced to substitute steel, merely coating it with a thin copper layer."
He raised his head, scanning the audience and continued in a clear, authoritative voice, "Our domestic supply of copper heavily depends on imports—over 80% in fact. Past, present, and future, we must inevitably go abroad, control more copper mines, secure more resources, and increase our say in the international metal markets."
These words summed up the entire state of the domestic copper mining industry and directly addressed why everyone had rushed here to find Li Tang.
In the broader sense, resolving national resource constraints was every company's responsibility.
Many major corporations had gradually ventured overseas.
Some had succeeded, acquiring small mines. But most had failed, still slowly finding their way forward.
For instance, two years ago, Wukuang Group gambled everything, risking 6 billion USD to acquire Falconbridge—but unfortunately, it failed.
Now, in hindsight, this failed acquisition was deeply regrettable.
Considering Strata's recent $16 billion USD acquisition price for Falconbridge, had Wukuang succeeded earlier, it would have realized a nearly 200% profit by now.
But there were no second chances.
From a purely commercial perspective, the biggest winners along the copper industry chain were always at the source: mining companies.
Copper mining didn't require advanced technology; if you could open a mine and extract ore efficiently, enormous profits awaited.
Right now, copper mines everywhere were practically minting money.
Thus, holding mineral rights became the single most important condition for success!
For established copper mining giants, controlling more mineral rights was crucial to building a legacy that lasted centuries.
The future of a mining enterprise depended not only on current financial statements but also on how many resources it controlled.
If you held substantial mineral rights, funds would never be an issue in this bullish market.
Premium mineral rights became prey dripping with the scent of blood, attracting hunters from all directions.
Today's crowded room illustrated this clearly.
"I fully understand your urgency," Li Tang continued, articulating his perspective clearly, "but let me make this clear: in the short term, we will not seek external investments for the Kakula Copper Mine. Therefore, I apologize—your enthusiasm to participate in this project will likely be disappointed."
Everyone present was from the mining sector and had accumulated considerable funds over recent years.
Clearly, they came today with deep pockets, somewhat desperate to invest their money.
Facing an exceptional project like Kakula Copper Mine, they naturally rushed in, checks in hand.
"Your Li Tang Prosperity Holdings and Ivanhoe Mining don't have sufficient funds to independently develop such a large-scale copper mine," someone stood up and voiced their opinion. "Given current copper market conditions, you have two choices. First, capitalize on high prices by immediately selling the mineral rights for substantial funds. Or secondly, rapidly raise sufficient capital—around seven or eight billion yuan—to promptly begin developing the mine yourselves. My personal recommendation would be to cash out now at these historically high prices."
Li Tang peered carefully at the speaker. Although the lights obscured faces somewhat, he recognized him clearly: "Qian Hao, is that you?"
Qian Hao's suggestion undoubtedly represented the views of Yinshang Group's Yu Yong.
In 2005, molybdenum concentrate prices had peaked at 6,100 yuan per ton-degree. Even after prices slightly receded this year, profits remained abundant. Luoyi Molybdenum had raked in massive profits these past few years—almost faster than printing money.
This formerly struggling enterprise had transformed into one of the most prominent mining companies nationwide, amassing significant liquid capital. According to recent audits by Yatai Accounting Firm, Luoyi Molybdenum's net assets now exceeded 8 billion yuan, preparing it to go public.
Though molybdenum prices later plummeted drastically—falling from over 6,000 yuan to as low as 700-800 yuan per ton-degree—this downturn didn't impede Luoyi Molybdenum's rapid rise.
They had secured substantial initial capital over recent prosperous years, smoothly entered the stock market, and expanded aggressively into copper, lead-zinc, and cobalt mines, acquiring numerous premium mineral rights at home and abroad.
Such aggressive expansion propelled Luoyi Molybdenum onto both the national and international stage.
Yu Yong was undoubtedly the hidden driving force behind these achievements, while Cui Mingyuan and Qian Hao had proven themselves as formidable generals.
Although Qian Hao typically appeared flashy and somewhat careless, Li Tang remembered him vividly.
"Yes, of course it's me!" Qian Hao stood up again right after sitting down. "We're all friends here—just call me directly if anything comes up!"
Privately, they had clearly strategized. Regarding Kakula, Li Tang and Frando could either sell the mineral rights outright or quickly find capable partners. Luoyi Molybdenum hoped to leverage its close ties with Li Tang to gain priority access. However, glancing around, they realized they weren't Li Tang's only friends. Wukuang Group, for instance, spent nearly every day in Li Tang's company and would surely be tough competition.
Li Tang smiled briefly at Qian Hao, then addressed everyone else, "Qian Hao's point is valid—we currently lack sufficient capital to fully develop Kakula Copper Mine ourselves. Still, this copper deposit is extremely high-grade and is unquestionably one of the finest undeveloped mines in the world. Eventually, this mine will be developed. But it's still early—there's no need to rush."
This comment left many present visibly anxious.
Clearly, Li Tang was in no hurry to make a decision regarding Kakula. When the time came, not everyone present would get a timely update—most likely, Wukuang Group would have an advantage.
A few years ago, Wukuang had been willing to spend $6 billion USD—over 40 billion yuan—to acquire mines in Canada, explicitly aiming at nickel and copper deposits. Given a chance to obtain Kakula Copper Mine, they wouldn't hesitate.
"You always say this and then forget us entirely—launching new projects alone without inviting your old friends!" complained Feng Sinian from Jiujiang Copper, standing up anxiously.
Lately, Feng had become deeply troubled as his company's copper reserves steadily declined. Analysts warned that China's former top copper enterprise would inevitably fall behind competitors in the near future. Feng refused to accept this, hoping to reverse his fortunes by aligning with Li Tang.
Yet, whenever Li Tang began a new project, Jiujiang Copper was never his first choice—not even fifth. Even Tongdu Nonferrous Metals Group, previously marginalized by Li Tang, had obtained the Shazhai Molybdenum Mine from him—a deal worth billions, acquired for a mere 600 million yuan, an opportunity Feng envied deeply.
Hearing about Kakula now, Feng desperately wished Li Tang would offer Jiujiang Copper similar generosity. They'd willingly pay double, even triple that price.
But everyone present knew that buying high-quality copper mines internationally often required billions of dollars—far beyond the reach of most Chinese mining companies.
The only viable alternative: purchasing mineral rights directly from Li Tang, known to favor domestic enterprises, especially state-owned ones.
"Li Tang, don't forget our Hongda Group!" Liu Jianglong shouted anxiously, fearing Li Tang might overlook them.
Seeing this, everyone started calling out simultaneously, creating chaotic noise resembling a marketplace.
At this crucial moment, Niu Fu stepped forward, calmly taking the microphone from Li Tang's hand and stating authoritatively, "Stop arguing, everyone. There's only one mineral right—no one else stands a chance."
These words abruptly extinguished everyone's hopeful dreams.
The previously lively crowd fell suddenly silent.
"Sorry, everyone."
Despite facing many old friends, Li Tang hardened his heart and decisively shattered most people's fantasies.
Indeed, Kakula Copper Mine was extraordinarily appealing, especially given current copper market conditions. But with so many eager enterprises present, satisfying everyone was impossible.
In another timeline, Frando partnered with Zijin Mining precisely because he lacked the strength to develop Kakula alone, selling almost half the rights for over a billion dollars. However, this time, Li Tang had yet to decide on a partner. After all, he felt no particular debt toward Zijin, having already provided them with the valuable Qinglong Copper Mine through his previous arrangements.
Without offering any further clarity, Li Tang turned and left the conference room, leaving everyone without a definite answer.
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