Chapter 149: The Costly Price Difference
The Baika Gold Mine scandal hadn't officially happened yet, and the future of how it might unfold was still unknown.
But this incident had shifted Li Tang's thinking—redirecting his attention to the gold mining sector.
In his mind, the fragments of memory began to align, sparked by this reminder from the Baika case.
Aside from Baika, there were actually several other gold deposits within China, each exceeding 100 tons in reserves, but they had ended up in the hands of foreign mining companies.
Take Qianzhou Province, for example.
It housed the Yuni Valley Gold Mine, currently the largest confirmed gold deposit in the country with reserves of 150 tons.
Discovered back in the 1970s, it had always been classified as a difficult-to-mine and metallurgically challenging type of deposit.
As a pilot project, the government brought in foreign investment, and the mining rights ultimately landed in the hands of an Austrian mining firm.
But ever since mining operations began, the site had been plagued with issues and had never run smoothly.
Other large gold deposits had also faced similar fates.
Because of funding shortages, even with promising resources in sight, there was simply no money to continue exploration, so local governments had no choice but to sell mining rights to foreign investors.
That's how so many prime resources fell into foreign hands—sometimes almost for free.
Foreign companies rarely fared well operating gold mines in China.
Either their management styles clashed with local culture, making it hard to sustain production,
or their environmental assessments failed and they couldn't obtain mining licenses.
Perhaps because of such factors, international media had never characterized China as a particularly favorable mining environment.
Back then, lacking both technology and funding, China had no choice but to attract foreign capital.
Now in the new century, with growing emphasis on resource sovereignty, the situation had improved.
Still, some mining rights remained under foreign control, often leading to headaches during development.
Sometimes this was due to local governments not valuing the resources enough, casually signing them away.
For instance, the Gongcun Copper-Gold Mine in Tibet Province—
Gold was discovered there as early as 1993.
But the rights were practically handed to a Canadian company called Land Mining for an embarrassingly low price.
After investing some money and confirming the site contained over 100 tons of gold and more than 1 million tons of copper,
Chinese enterprises were forced to buy the company out—spending over 3 billion yuan just to get the rights back.
That price difference was outrageous.
And mind you, the Canadians had already spent years negotiating unsuccessfully to obtain mining permits.
When they finally realized they weren't getting them, they agreed to sell for 3 billion.
If they'd secured the permits, that price would've easily doubled.
From what Li Tang remembered, around this time the Gongcun project should still be in the general exploration stage, led mainly by Geological Team 6 from the Tibet Geological Survey Bureau.
If he guessed right, Land Mining had already started getting involved in that work.
They had likely confirmed signs of gold mineralization near Duide County's Gongcun area.
The next step would be to secure the mining rights, pour in more funds, and begin high-density drilling and detailed surveys.
Li Tang suddenly sat up straight, an urgent feeling rising in his chest.
Was it still possible to intervene before the mining rights were transferred?
Once Land Mining and Geological Team 6 signed a formal agreement,
and the rights passed into foreign hands—it would be too late for regrets.
He nearly jumped up from his chair and rushed into the outer office, where several company employees were arranging desks.
"Where's He Runqi?" he called out.
"Coming! Just used the bathroom."
He Runqi jogged over, still wiping his wet hands on his clothes.
"Every time I go in there, I feel like I'm in a palace. Those bathroom tiles are nicer than my whole house. I'm thinking of moving in."
He chuckled, but quickly grew serious upon seeing Li Tang's expression.
"What's the matter?"
"Did you contact the Yunnan Geological Bureau?"
"Just did. They said they'd look into it," He replied efficiently.
"Good. Now book two plane tickets—we're flying to Tibet!"
Li Tang pointed at him.
"You're coming with me. Everyone else stays here and continues setting up the office.
And the computers are in, right?
You guys enroll in some computer classes—expenses covered by the company.
Just remember to bring the receipts back."
"Got it!" everyone responded in unison.
With just nine people on staff, they had no one for HR or accounting.
The whole company was still running wild and unstructured.
Li Tang had no entrepreneurial experience. He could only take things one step at a time.
As long as the company kept growing—and more importantly, kept making money—everything else would fall into place.
But if they hit a rough patch, and stayed there too long, all kinds of problems would start to surface.
He understood this all too well. He'd seen it before.
"What's the rush?"
On the flight to Tibet, He Runqi was much calmer than during his first plane ride.
"I'm trying to snag a project. But there might be competition."
Li Tang leaned back and closed his eyes.
"What kind of project?"
"Copper-gold deposit. If I'm right, it's a great one.
But I suspect a Canadian company is already involved in the early exploration.
Hopefully, they haven't signed a deal with Geological Team 6 yet."
"A gold mine?" He Runqi grinned. "I like gold mines."
Li Tang opened one eye and looked at him.
"Can you use a computer properly?"
"A little." He flushed, embarrassed. He could open a browser and type—but that was about it.
"That's enough for now. Just keep practicing.
Our future work will definitely require digital skills—mapping, reports, everything.
This hand-drawn stuff is way too slow."
"I won't hold the team back!"
He Runqi had never once doubted Li Tang.
Somehow, he just believed everything Li Tang did was right.
After landing in the capital of Tibet, they spent the night in a hotel.
The next morning, Li Tang borrowed an off-road vehicle from Zise Mining's local office and headed northwest—toward Duide County, roughly 300 kilometers away, where Geological Team 6 was based.
The highway was built back in the '80s. It had been patched up so many times, the road surface looked like a quilt.
Snow, dirt, and wind painted everything in shades of grey.
With the windows down, the frigid wind blasted into the vehicle.
"Ahhh, this is the life!"
He Runqi shouted from the passenger seat, wind whipping his hair and contorting his face.
"I love flying down an empty highway like this. Pure freedom!"
Their speed was high—there were no other cars on the road.
The only danger was the occasional wild animal that might dart out from the side.
Li Tang's foot was numb from holding down the gas, and He's non-stop cheering was starting to grate.
He was the boss now—driving long distances himself, without a backup driver. It was exhausting.
"When we get back to Yanjing, go get your driver's license," he growled.
"Sure! Next time we're out here, I'll do all the driving!"
Truth be told, He Runqi had been itching to try.
"Hey, if you're tired, I can take over."
"Do you even know how to drive?"
Out here in the wilderness, Li Tang wasn't worried about traffic cops—just safety.
"Nope." He answered like it was no big deal.
"But I've seen you do it. Looks easy enough. I think I can manage."
"Get lost. If you're in a hurry to die, don't drag me down with you."
After nearly a full day on the road, they finally reached Geological Team 6 in Duide County.
A row of red-brick buildings with tiled roofs marked the office.
Team leader Dengba looked curiously at the two young men from Yanjing.
"You're Li Tang?"
"I am."
Li Tang had already introduced himself in detail, but from Dengba's expression, it was clear he didn't believe a word.
"I've heard of Li Tang—the man behind Qulong and Qinglong.
A legendary exploration expert."
The name "Li Tang" was famous in Tibet's geological circles.
Local technicians had all been sent to study his methods—his was the most talked-about name in training courses.
To them, Li Tang was like a mythical figure from a textbook.
Now here were two baby-faced youths claiming to be him?
"I really am Li Tang."
He handed over his ID. "You can check."
Dengba glanced at it and mumbled, "Lots of people with the same name…"
"What else can I show you to prove who I am?"
Li Tang felt a wave of helplessness as Dengba pocketed the ID.
Was he going to call the police?
"What are you doing here?" Dengba asked.
"To seek a partnership," Li Tang replied truthfully.
"A partnership?"
"I know you're working on the Gongcun copper-gold prospect. I'd like to offer support."
Li Tang calmly explained,
"Tibet doesn't receive much national funding for mineral exploration.
You rarely get enough money for deep drilling.
I'm the founder of Zhenguan Exploration in Yanjing. I have funds—and I'm interested in your Gongcun project."
"Hmm…"
Dengba nodded slowly, then turned and whispered to someone outside—probably instructing them to block the exits.
Clearly, he thought Li Tang's story was just a scam.
He'd dealt with shady "mine bosses" before—never ones this young.
He returned with a composed face, but suspicion still in his eyes.
"I remember Li Tang worked for Wukuang Group. Do you have an official letter of introduction?"
"Uh…"
Li Tang was at a loss.
Back when he worked for Wukuang, he always carried stamped letters—every door opened for him.
Now, running a private company, he was suddenly reminded how valuable that official status had been.
"At the moment, I'm investing privately," he added.
Sure enough, two officers from the local police station soon arrived.
After a brief chat with Dengba, they escorted Li Tang and He Runqi away.
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