Chapter 306: The Last Lifeline
"Fazini is an old friend of mine. He arrived in Africa even earlier than I did, doing business related to maritime transportation and the sale and lease of mining equipment. He enjoys quite a reputation here," Frando said, removing the thick cigar from his mouth and exhaling a puff of smoke. He continued, "I heard that your cooperation with him in Guinea has been going quite well."
"Mr. Fazini is indeed a trustworthy businessman," Li Tang replied, nodding slightly in agreement. "The drilling equipment he has provided us is of excellent quality. Anytime we've had special requirements regarding models or specifications, he's been able to fulfill them promptly."
"He has been of great help to me as well," Frando responded politely. But clearly, he hadn't come all this way simply to chat about Fazini. Getting directly to the point, he said, "Our company has several exploration projects in Africa. We recently achieved promising results from a multi-metal exploration project in South Africa."
"Hmm," Li Tang considered this for a moment before a realization dawned on him.
According to the original timeline, after selling a nickel deposit mining right in the 1990s and earning a considerable fortune, Frando had spent years enjoying a luxurious life. It wasn't until he acquired the copper-gold exploration rights in Mengguo from BHP Billiton that he returned fully to mining exploration.
If Li Tang hadn't appeared out of nowhere and disrupted his original plan, Frando would still have been busy with his copper-gold project in Mengguo at this time, rather than turning his attention to exploration in Africa.
Obviously, his arrival here was earlier than it should have been.
Normally, he would have come to Africa only after selling the Talege copper-gold mine and becoming flush with cash, unable to resist investing his fortune into the untapped lands of Africa, where he would again make globally recognized discoveries.
In the exploration industry, some called him "Toxic Frando," while others revered him as a god-like figure due to his uncanny ability to locate massive mineral deposits and sell them at peak market prices.
"In Central Africa, there is a copper-gold mineralization belt," Frando continued confidently, slicking back his shiny hair. "Several large copper deposits have already been discovered in this region. A significant portion of this mineralization belt is within the territory of Congo. Our technical team plans to conduct exploration in Congo soon."
"Ah," Li Tang nodded, understanding the implication. "You came all this way to see me because you're seeking collaboration?"
"Precisely," Frando affirmed without hesitation. "Everyone in our field knows you have an unparalleled capability in copper-gold exploration! Our Ivanhoe team's skills are equally impressive. If we join forces, we will undoubtedly make remarkable discoveries!"
"Even without me, I'm confident your team will have significant findings in Africa. I have no doubt of your capabilities," Li Tang replied, somewhat surprised that Frando actively sought collaboration. Historically, Frando preferred working alone, exploring adventurous and remote regions across the world.
After taking a puff of his cigar and exhaling the smoke, Frando continued, "Our team doesn't lack funds; we don't need your financial input. I also know you're quite wealthy. I've heard about the skyrocketing valuation of your Lianying Mining in Australia. For us, mineral exploration is both a passion and a lifestyle."
"A lifestyle…" Li Tang mused, finding some philosophical truth in that statement. He smiled and asked, "Have you conducted preliminary data gathering or field reconnaissance in Congo yet?"
"We haven't started any groundwork yet," Frando admitted openly. "However, based on our analysis of geological data and existing discoveries, we believe there is substantial exploration potential in the Central African copper belt."
Holding his cigar, he confidently added, "We'll employ advanced airborne geophysical surveys and ground geophysical measurements to rapidly identify promising targets for exploration!"
Li Tang thought for a moment and then nodded decisively, "Sounds great."
Indeed, he was already aware of a substantial copper deposit in Congo. He had previously considered exploring Congo himself after completing the Simandou iron ore exploration in Guinea. He hadn't expected Frando to target this region so early and proactively suggest cooperation.
Having already taken the Talege copper-gold mine from Frando, Li Tang thought it might seem unfair to snatch yet another deposit from him. Given that Frando was open to collaboration, Li Tang saw no harm in exploring the possibility.
"It's settled, then!" Frando appeared genuinely pleased. "I'll arrange for some technicians from South Africa to join us soon. We'll enter Congo together as soon as possible."
"I'm afraid I'll have to wait a while. I need to return home to China first," Li Tang said apologetically.
"Are you having trouble with the iron ore project here in Guinea?"
"No, just some matters at home needing my attention," Li Tang assured him. "I'll be heading back immediately."
"In that case, we'll wait for your return from China before heading into Congo," Frando said understandingly. They exchanged contact information, after which Frando departed alongside Fazini.
Li Tang had spent several months with his technical team, including Lei Pingjin, in Guinea. Now, facing urgent matters back home and considering his team had spent too long away from their families, Li Tang decided it was an opportune moment to return home for a break.
"Are the project data fully compiled?" Li Tang confirmed with Lei Pingjin before departure.
"The surface geological data was completed early on, and we've already conducted and processed all geophysical measurements," Lei Pingjin reported. "However, our drilling data remains limited due to the current drilling progress. To fully assess the project, I estimate we'll need another year."
Li Tang was in no hurry. "We'll take our time with the rest. Haste makes waste."
He couldn't help but feel somewhat apprehensive about the project's inherent risks, from local diseases and security concerns to uncertainties regarding investment returns, given Guinea's volatile environment.
If he were to pour all $50 million into thoroughly exploring and unveiling the Simandou iron ore deposits, there was no guarantee that Guinea's government or local groups wouldn't create unforeseen complications.
Therefore, unlike his domestic or Australian ventures, he refrained from fully committing all resources at once. He chose instead to move forward cautiously, one step at a time.
"Has our staff fully withdrawn?" Lei Pingjin asked, aware Li Tang had instructed everyone to pack up and return home.
"We have enough primary data for now. Let's return home, rest a bit, and regroup later."
"Many drilling rigs remain onsite, requiring continuous rental payments," Lei Pingjin noted worriedly.
"Did we hire someone to guard them?"
"We did, but it's still risky without our own personnel."
"We'll return soon enough; it shouldn't be an issue," Li Tang reassured him, then waved his hand decisively. "Let's go home!"
After a long absence, everyone felt homesick. Upon landing in Yanjing, the team's faces brimmed with joy and relief, finally feeling secure on their homeland soil. Although no one openly expressed fear in Guinea, anxiety lingered beneath the surface. Back home, they could finally rest peacefully.
Li Tang gave his team a generous vacation but himself rested only briefly, quickly returning to the company. He Runqi had arrived in Yanjing ahead of Li Tang, returning from Australia to manage matters at the office.
In recent days, many representatives from steel companies nationwide had arrived at Cloud Top Tower, hoping to meet Li Tang personally. Even though some executives and directors had returned to their respective firms, they'd left personnel behind to monitor Li Tang's whereabouts daily.
Notably, Hai Xin Steel's chairman Li Zhaocai and vice-president Yan Hongliang had lingered in Yanjing, awaiting Li Tang's appearance. After Li Zhaocai succeeded his father, his first significant move was providing basic benefits such as social security and medical insurance for all employees, instantly winning him considerable internal support and boosting morale.
"Li Tang?" Li Zhaocai pondered aloud. "Yan, doesn't that name sound familiar?"
"Very familiar," Yan replied immediately. "Everyone in our industry knows Talege copper-gold mine—Li Tang discovered it. He also found Qulong copper mine, Qinglong copper mine, and the Shazhai molybdenum mine in Huizhou, whose value soared dramatically this year."
"No, not because of those mines," Li Zhaocai frowned, still uncertain. Before the recent steel association conference, he'd never heard Li Tang's name. Yet, somehow, it felt inexplicably familiar.
"Did my father ever mention working with someone named Li Tang?"
"Absolutely not," Yan shook his head firmly. "Our steel mill always used imported iron ore; we never collaborated with exploration companies."
"I still feel like I've heard or met him before," Li Zhaocai muttered, unconvinced.
"It's probably a common name," Yan suggested casually.
"I suppose," Li Zhaocai sighed, pulling out a cigarette, lighting it carelessly despite the clear no-smoking sign in the company conference room filled with patiently waiting steel company representatives.
Meanwhile, He Runqi was busy on stage representing Li Tang's Shengshi Holdings and Lianying Mining, outlining the company's impressive discoveries: "We have confirmed two major iron ore districts—Qiqie and Xiuluo—with combined high-grade reserves of approximately 2.3 billion tons."
Enthusiastic applause erupted, as representatives eagerly anticipated securing access to these vast deposits. He Runqi proudly continued, detailing projected reserves potentially exceeding five billion tons, significantly stirring excitement in the audience.
Concluding his presentation, He Runqi returned confidently to the subject he knew best: exploration.
However, the final topic discussed wasn't technical in nature but related to land.
The last slide displayed a detailed map of the Pilbara region, highlighting a vast area circled in red lines. Everyone was curious about what made this map special.
Pointing at the projected image, He Runqi asked the audience, "Does anyone know what this map signifies?"
"This is a map of the Pilbara region, with Hedland Port to the north," someone confidently remarked.
"The engineering layout you presented earlier was based on this map, adding railway routes, mine sites, and processing plant locations."
"But it's still different. Apart from the base map, there's an additional red outline covering a large area," another voice observed.
"What does the red line represent?" someone questioned.
Clearly, many people didn't understand the significance behind this particular slide.
Seeing their confusion, He Runqi smiled slightly and didn't keep the suspense any longer. He explained directly, "The area outlined in red occupies most of the central and inland parts of the Pilbara region, excluding regions already owned by other companies."
"Don't tell me that's Lianying Mining's exploration rights?" someone quickly responded upon hearing mention of mining rights.
"Impossible! Exploration licenses can't cover such a huge area!" A few participants familiar with South Australian mineral rights procedures immediately voiced their skepticism.
"It practically covers half of the Pilbara. What exactly does this signify?" More people expressed confusion and disbelief.
He Runqi chuckled and unveiled the puzzle directly: "This highlighted area represents Lianying Mining's private land ownership!"
With a tap on the keyboard, a shocking figure appeared on the screen: 50,000 square kilometers!
Boom—
A wave of astonishment rippled through the crowd.
Everyone was stunned by the number displayed on the screen.
Private land ownership of 50,000 square kilometers?
That was larger than many provinces!
"Such a vast area surpasses the size of many small countries!"
"How did your company acquire such extensive land? Is it really private ownership?"
"Does this land ownership also include underground mineral rights?"
"In Australia, private land ownership only includes surface rights, not underground minerals. Those require separate approvals."
"Even owning the land doesn't mean you can freely build structures or clear trees. Permits are required for such actions."
"Still, having private land ownership would definitely ease applications for exploration rights within that territory."
Some were confused, others knowledgeable, but everyone engaged in intense and excited discussions.
All attendees here traced their ancestry back to generations of farmers and thus harbored a deep affinity for land. In China, land was a valuable state-owned asset, intensifying their interest and curiosity about such vast private ownership abroad. Just imagining it was exhilarating.
He Runqi didn't elaborate further or clarify in detail.
Today, he merely represented Lianying Mining to briefly introduce their current situation. For detailed negotiations, they had to wait for Li Tang's return.
Clap, clap, clap…
Li Tang had quietly entered the conference room through a back door earlier, taking a seat in the last row. After He Runqi concluded his compelling presentation, Li Tang began applauding from behind. Initially, no one noticed this solitary applause as they continued whispering excitedly among themselves.
Until Li Tang stood up.
"Mr. Li, you're back!" He Runqi exclaimed in surprise from the stage as he gathered his notes.
Following He Runqi's gaze, everyone turned their attention toward the back of the room.
Most attendees had never seen Li Tang before.
A few had encountered him previously.
"That's Li Tang?"
"Is it really him? He looks so young!"
"Everyone at Li Tang Shengshi Holdings seems surprisingly youthful."
"I expected an overweight, middle-aged businessman or an elderly figure, not such a young guy."
Murmurs of surprise and speculation spread quickly among attendees as they stared at Li Tang. They had eagerly anticipated his appearance, skeptical of claims from Li Tang Shengshi Holdings' staff that he was abroad, assuming instead that he'd been deliberately avoiding them.
Meeting everyone's gaze, Li Tang waved briefly and walked calmly toward the front.
"It really is him!" Li Zhaocai gasped softly, a cigarette hanging precariously from his mouth, almost dropping in shock.
Hearing this, Yan Hongliang glanced back, noticing Li Zhaocai's stunned expression. Curious, he asked, "You've met him?"
"Absolutely!" Li Zhaocai confirmed after a careful look, astonished. "I don't just recognize him—I know him personally! We've spent time together!"
"Really?" Yan Hongliang was delighted. Having such a personal connection with Li Tang would significantly boost their chances of securing a deal with Lianying Mining, placing them ahead of their competitors.
Yet, Yan complained gently, "If you knew Li Tang, why didn't you mention this earlier?"
"I didn't realize it was the same Li Tang!" Li Zhaocai had encountered numerous people during his carefree, extravagant lifestyle overseas—partying and socializing regularly with various acquaintances. He remembered very few names or faces clearly. Only coincidentally had he met Li Tang twice through mutual friends during his studies at South Australian University. They had even spent a day fishing together. Their relationship was fleeting at best, certainly not significant enough for him to remember immediately.
"Are you two friends or rivals?" Yan grew slightly concerned at Li Zhaocai's evolving expression.
"Not rivals, just acquaintances. We spent some casual time together," Li Zhaocai clarified.
"That's great then!" Yan smiled confidently again.
"I met him just before my father's incident in Perth. We even went fishing together," Li Zhaocai recalled. He received an emergency call about his father's accident while still on that fishing trip, with Li Tang present. It was only due to these coincidental circumstances that Li Tang's name had stuck in his mind.
"Even better!" Yan reassured himself, growing increasingly optimistic about their prospects.
Meanwhile, Li Tang reached the stage, calmly picking up the microphone.
"Hello everyone, I'm Li Tang."
His words were softly spoken, yet they unleashed a torrent of excitement surpassing any prior moment. A deafening wave of enthusiasm swept across the room. At last, the figure everyone had eagerly awaited was here.
Questions erupted from all corners:
"Li Tang, Li Tang, Li Tang!"
"Is Lianying Mining's mine construction plan realistic?"
"With such vast iron ore reserves, could you possibly sell partial exploration rights to other companies?"
"We heard you faced funding difficulties initially—where did you secure financing for mine construction?"
"Our steel companies wish to partner with you—can you offer us preferential terms?"
"Could your iron ore production start earlier? You mentioned 2005; that's too late!"
"We arrived first—prioritize us for iron ore supply!"
Dozens raised their hands simultaneously, bombarding Li Tang with urgent, heartfelt questions, some even shouting above the chaos. The room descended into momentary disorder, the sheer volume causing the glass windows to tremble slightly.
Understandably, these people were emotional after waiting days for Li Tang. Furthermore, recent news and official statements confirmed iron ore prices under long-term agreements would officially rise to around $60 per ton the following year—doubling in merely a year. Who knew how much higher prices would soar in upcoming years?
Negotiations for long-term contracts had grown exceptionally difficult. Most smaller steel mills faced daunting challenges securing even minimal long-term supplies, while the iron ore market had clearly shifted from a buyer's to a seller's market.
Amid such desperation, steel manufacturers turned eagerly to Lianying Mining, seeing it—or rather Li Tang himself—as their ultimate lifeline. Many privately believed that Lianying Mining represented their only viable hope for affordable, long-term iron ore supplies. Even domestic iron mines offered no relief, consistently priced higher than imports.
For countless companies teetering on uncertainty, Li Tang was their final straw, their last chance at survival.
Surprised yet sympathetic toward their overwhelming enthusiasm, Li Tang lifted the microphone and gently reassured everyone, "Please remain calm. I understand your concerns and appreciate your eagerness to cooperate. We have plenty of time ahead to discuss carefully and thoroughly. Rest assured, I will provide you all with satisfactory answers."
Gradually, the crowd settled down, reassured by Li Tang's composed demeanor.
Among attendees, Shen Wenhua of the massive Sand Steel Group, being exceptionally busy, had already returned to Jiangnan Province, leaving behind a trusted representative. Before leaving, he urged Wu Yueming from Fengli Group to immediately inform him upon meeting Li Tang and securing any potential collaboration.
Positioned prominently at the front, Wu Yueming eagerly seized his opportunity, raising his hand to confirm Li Tang's identity publicly.
"You're truly Li Tang, the CEO of Li Tang Shengshi Holdings?"
Li Tang chuckled, amused, as Dai Yingchi proudly stepped forward to introduce him clearly to the entire audience, "Yes, everyone, this gentleman here is indeed our CEO, Mr. Li Tang!"
"Yes, I am," Li Tang smiled warmly, "authentic and genuine."
Wu Yueming smiled back, nodding appreciatively. "Truly, the younger generation surpasses the old."
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