Chapter 242: Commit Seppuku!
The personnel from the Qianzhou Provincial Geological Bureau and the China Geological Survey, after enduring grueling effort, successfully completed a monumental workload and managed to organize all the data and findings properly.
To adapt to local customs and show greater respect toward the Mongolian regulatory authorities, Li Tang, in the name of Nanhuang Resources Company, hired a large number of Mongolian geologists.
He even brought in, at a high salary, the renowned and veteran geological expert from Mongolia who had first discovered the mineralization point of the Talego Copper-Gold Mine in the 1970s.
On one hand, the aim was to consolidate the Talego Copper-Gold Mine project's results into a complete archive.
On the other hand, the involvement of these Mongolian geologists added a more meticulous and localized angle to help the Chinese technical team refine the data system.
With complete data, they would then be able to logically apply for mining rights.
Mining rights were the most crucial goal for Li Tang at this stage.
The 300 million yuan exploration cost was ultimately converted into stacks of paper documents, taking up half the trunk space of a pickup truck.
Once this data was submitted to the Mineral and Petroleum Administration Bureau, the achievements of this project would inevitably begin to attract widespread attention.
The people of Mongolia wished more than anything for the world's eyes to remain focused on their land.
In particular, the world's major mining giants were eager to lure investment into Mongolian territory, hoping to promote local economic growth and help people escape poverty.
Unsurprisingly, this news reached Erwin of the Gaja Financial Post almost immediately.
He boarded a plane without delay and rushed to Kulun City.
Upon arriving at the Ministry of Industry and Trade and the Mineral and Petroleum Administration Bureau, he discovered that a journalist from Austria's Austrian People's News had also arrived for interviews at the same time.
Bayar and Jirigala, on behalf of Mongolia, had arranged a dedicated press conference venue to receive journalists from around the globe.
Compared to the last media event announcing the discovery of a large deposit at the Talego Copper-Gold Mine, this time the international turnout was even greater—dozens of media outlets from all over the world were present.
In particular, the Austrian media had turned out in force. After all, the mining rights had originally belonged to BHP, but for reasons unknown, they had somehow ended up in the hands of the Chinese.
This incident had stirred considerable controversy in Austria's financial and mining circles.
Now that the Talego Copper-Gold Mine had made an even greater breakthrough, they naturally seized the chance to cover this hot topic.
Bayar wore traditional attire and stood before the cameras with a smile. "There is no doubt that the Talego Copper-Gold Mine is a world-class deposit! This much is already known to all."
He picked up a prepared statement and announced ceremoniously, "However, I still want to share some more good news with everyone here. Thanks to the efforts made in the first half of this year, the Talego Copper-Gold Mine has once again made a breakthrough! Copper reserves have reached 31 million tons, gold reserves 1,300 tons, and silver reserves 7,500 tons!"
"31 million tons of copper ore, all above industrial grade! This is now the world's largest undeveloped copper mine!"
"1,300 tons of gold reserves are enough to place it among the world's top ten gold mines!"
His expression and gestures were bold and expressive, showcasing his pride in the country's mineral resources.
He shouted the results with a strained voice, proudly proclaiming Mongolia's glory to the world.
"As we understand it, the ownership of the Talego Copper-Gold Mine belongs to China's Zhongcheng Mining, a private company with some state-owned background. Minister Bayar, may I ask, how much do you believe Mongolia can benefit from these mining rights? Or do you think your citizens' lives will improve as a result of this world-class discovery?"
The journalist's question hit Bayar's sore spot immediately.
He sat down, the excitement fading from his face, leaving a trace of concern in his eyes.
"As for the development of the mine, we are currently in close consultation with Chinese enterprises. We will work hard to draft an environmentally friendly and economically optimized development plan as soon as possible."
He gave a faint, bitter smile. "Once there is progress in the development of this mining right, we will keep the public informed."
"Our investigation shows that Chinese companies have no successful examples of developing world-class mines. Moreover, Zhongcheng Mining is relatively unknown and doesn't appear to have the technical or financial capability to handle such a major project. Are you worried that such a massive fortune in Chinese hands might fail to realize its true economic value and drive national development?"
"We are not worried. We trust Chinese companies," Bayar replied, though clearly distracted and unconvincing.
The Austrian reporter continued stirring the pot. "If Zhongcheng Mining lacks the strength to develop the mine, would you urge them to transfer the mining rights or bring in a capable strategic partner?"
It was obvious the journalist was laying a trap.
Bayar felt overwhelmed. He had never been the focus of such intense global attention and was visibly uncomfortable. "There's no 'if.' We've always been optimistic. Now that exploration has concluded, developing the mining rights is our top priority. Let's look forward. The future will be brighter and more exciting."
"We've heard that you've reached a verbal agreement with a major international mining giant to intervene in the Talego Copper-Gold Mine project and possibly buy out control from the Chinese..."
"'Heard' and 'supposedly'—please don't conduct interviews with baseless speculation!" Bayar interrupted.
He had suffered from foreign media distortion before, which had stirred controversy.
Frustrated by the probing questions, he lashed out, "Let me make this clear: even if we were to ask the Chinese to transfer control of the Talego Copper-Gold Mine, it would only happen through mutual agreement and friendly negotiation!"
"So, are you saying you're already in talks with the Chinese?"
"Would you consider using regulatory authority to pressure the Chinese into giving up the mining rights?"
"The ownership clearly lies with the Chinese, and development seems difficult. We consulted international copper-gold mining experts—none of them are optimistic about China's ability to develop the mine."
"Which mining giant is your country planning to introduce to acquire the rights from the Chinese? Lito, BHP, Freeport, Eagle Magnesium, StrataCorp? These firms all have strong development experience, abundant funds, and better management systems. They could offer Mongolia greater returns."
The barrage of questions hit like a storm.
"Why are you so obsessed with the mining rights? Just look at the exploration results—this is a world-class discovery. Isn't such a feat for the benefit of humanity enough for your news coverage?"
Though Bayar fought valiantly with words, he was clearly struggling against the seasoned journalists. "31 million tons of copper, 1,300 tons of gold! This achievement elevates Mongolia's status to the world's third-largest copper reserve holder! Mongolia is rich in resources and welcomes companies and individuals from all over the world to invest here. We promise a favorable and open business environment!"
After three exhausting hours of Q&A, the press conference finally came to an end.
Erwin didn't go to Bayar or Jirigala for a private interview but instead stopped a Chinese attendee on his way out.
He knew this man was an important figure within Zhongcheng Mining. They had met several times.
"Is there something you need?" asked Guo Fengchun, who represented Zhongcheng Mining and Nanhuang Resources at the press event.
"I wanted to ask—Is your boss, Li Tang, currently in Kulun City?" Erwin's eyes were filled with anticipation. He didn't have prepared questions—he just wanted to know where Li Tang was.
"He..." Guo hesitated, then firmly replied, "No comment."
"I just want to ask him a few questions. It won't take long," Erwin said anxiously, realizing Guo wouldn't give up Li Tang's whereabouts.
"I'm sorry. I can't help you," Guo replied and walked away.
"Please pass a message to Li Tang. If he's ever willing to give an interview, he can contact us at the Financial Post anytime!"
Erwin was desperate to get firsthand material from Li Tang, but he kept running into dead ends.
He felt frustrated. He had once had a chance—Li Tang had stood right in front of him.
It was back in Tibet Province, China, when Lucas, CEO of Land Mining Company, had asked him to investigate a mining rights dispute involving Gongsun Copper-Gold Mine.
At the time, he hadn't known much about Li Tang. He didn't see him as someone likely to accomplish anything extraordinary.
In fact, he assumed Li Tang was merely a puppet, a frontman for powerful figures behind the scenes.
But as events unfolded and he learned more, Erwin became increasingly impressed by the young man's talent and achievements.
He realized he had missed the perfect chance for an exclusive and now found it nearly impossible to make up for that loss.
To interview Li Tang, he had traveled repeatedly between Kulun City and Beijing—but found no access.
To him, Li Tang exuded a mysterious aura.
At times, Erwin couldn't help but wonder if some heavyweight figure in China stood behind this remarkable young man.
Uncovering Li Tang's true identity had become the greatest pursuit of Erwin's journalism career.
And that was now his only goal.
In Melbourne, Australia, at the BHP headquarters building, Horace summoned the Director of the Overseas Department, the Director of the Exploration Center, and other senior staff.
Miles had already guessed the reason the CEO had called them in. When he entered the room, he saw Horace staring intently at a newspaper, as if he couldn't put it down.
When Horace finally lowered the paper, the headline that had caught his attention came into full view: "Horace, Please Buy a Japanese Samurai Sword and Commit Seppuku!"
It was a front page from a local tabloid known for its biting sarcasm and humorous commentary—often used within the company as a kind of comic relief.
Unlike mainstream media, this paper briefly introduced the world-class discovery at the Talego Copper-Gold Mine, but the majority of the content harshly criticized Horace for his supposed lack of vision.
Now, the whole world knew that the Talego Copper-Gold Mine's exploration rights had originally belonged 100% to BHP.
For reasons still unclear, those rights had somehow ended up in the hands of the Chinese, and not long after, it had been confirmed to be a world-class super mine with an economic value of over one hundred billion USD.
When measured purely by economic value, the Talego Copper-Gold Mine was nearly equivalent to BHP's entire market capitalization.
What kind of ridiculous decision had led BHP to sell such a critical mining right for a paltry eight million USD?
All of the confusion, frustration, and shareholder fury had now been dumped squarely onto Horace.
Earlier that day, Horace had received another inquiry from the Chairman of the Board, prompting him to call in his top lieutenants.
Noticing Miles' glance, he quietly slid the "seppuku" tabloid to the bottom of the pile and pulled out a copy of the Australian People's News.
This was a more authoritative newspaper, focused primarily on the technical and economic impact of the Talego Copper-Gold Mine discovery, with far less editorial emotion.
"The media coverage of the Talego Copper-Gold Mine is out now—it's spread widely. I wonder if you've all seen the reports?" Horace asked, voice stern.
"I've read them," several executives responded in agreement.
"And after reading them, what are your thoughts?" Horace looked seriously at his team.
"The Chinese clearly don't have the capacity to develop such a mine. Their only path forward is to transfer the mining rights in exchange for economic return—or bring in a strategic partner. I believe all major companies now have a chance to compete for these rights. It just depends on who offers the most attractive conditions."
"Chinese companies don't have influence in international capital markets. They really can't raise the necessary funds."
"We might try to pressure their partners or send a sincere proposal directly to Zhongcheng Mining, in the hope of regaining control at a reasonable price."
"Judging from the news, both the Chinese and the Mongolians are sending signals to the outside world that they're open to bringing in strong partners."
Everyone offered their opinions with enthusiasm.
At BHP, internal meetings were never short on people with ideas, regardless of level.
One person picked up the Australian People's News and highlighted a key excerpt: "Take a look at what the Mongolian Minister of Industry and Trade said. His words were clear: 'Even if we ask the Chinese to relinquish control of the Talego Copper-Gold Mine, it would only be through their agreement and friendly negotiation.' That clearly indicates Mongolia is putting pressure on the Chinese, urging them to accept offers from other enterprises."
"Also here, when asked whether they would use regulatory powers to force the Chinese to transfer rights, the Mongolian official said they would use legal frameworks appropriately and assist Chinese companies in making mining rights transfers when necessary."
"These statements show that Mongolia is strongly motivated to bring in international capital!"
"Obviously, Mongolia doesn't fully trust the Chinese enterprise either!"
"If Mongolia applies pressure and demands a transfer of rights, I believe we have a shot," said another executive.
The room was buzzing with excitement, each person voicing their take.
But Horace remained silent, lost in deep thought.
Who wouldn't want to redeem the mistake and reclaim the mining rights?
But he had already interacted with Zhongcheng Mining—and he knew it wouldn't be that simple.
Even from just a single meeting, he could clearly feel that the Chinese valued the Talego Copper-Gold Mine far more than the outside world believed.
They would never give it up easily.
"How about I contact the Chinese and invite them for a talk?" someone suggested.
Horace immediately shook his head. "The Chinese won't come here to talk with us."
"Then should we go to China to meet them?"
"No. Talking to the Chinese won't work," Horace said firmly. "We need to contact the Mongolians as soon as possible and understand their true stance!"
He turned to Miles. "You know the Mongolians best. I want you to handle this."
"Understood," Miles responded, accepting the task.
Meanwhile, also in Melbourne, at Lito's corporate headquarters.
Viduka had not followed the original plan to travel with Yoshida Tomoki and the Japanese delegation to inspect the coal mine project in Southern Wild Province, Mongolia. Instead, he had broken off from the team and rushed back to the Austrian headquarters without delay.
Now seated before him were Lito's CEO Alba and CFO Eric.
"Aren't you supposed to be in Mongolia inspecting the coal project with Shin-Nichi Steel? Why are you back so soon?" Alba asked, sipping coffee and eyeing Viduka curiously.
"I found a project far more valuable than coal," Viduka replied.
He pulled out several newspapers and handed them over.
"We've seen them," Alba said with a smile.
"There's also this." Viduka handed over a project report. "This material is highly detailed and came directly from the Mongolian Mineral and Petroleum Administration Bureau. It's accurate."
"Oh?" Alba raised an eyebrow and put down his espresso, casually opening the report.
He wasn't a technical expert, and the data made his head spin a bit.
"The Talego Copper-Gold Mine is undoubtedly the most valuable undeveloped mining right in the world today," Viduka said with certainty.
His statement drew nods of agreement from both Alba and Eric.
"We've already considered the possibility of acquiring rights to that project," Alba said, glancing at Eric and shaking his head slightly. "But we don't believe there's a real opportunity to get involved."
Eric agreed. "It's not about money. Lito's financial situation this year is quite healthy. Even after last year's large shareholder dividends, we've retained a significant amount of capital. But the issue is, the mining rights are in the hands of a Chinese company, and that market is not particularly open. Our usual capital-based strategies simply don't work there."
Alba closed the file and continued, "Our group's long-term strategy has always been to diversify. Beyond iron ore, we plan to expand into copper, alumina, and coal. The Talego Copper-Gold Mine is a tremendously valuable asset. But as Eric said, we have no viable way of wresting those rights from a Chinese company."
"We've already contacted the Chinese. Their stance was firm—they have no intention of transferring the rights," Eric added. "Without the Chinese agreeing, we're powerless. They hold all the ownership, and their attitude is what determines everything."
"I understand your concerns," Viduka said calmly. He didn't sound discouraged—in fact, his expression showed barely restrained excitement. "But I've received a piece of information you won't believe!"
"What is it?" Alba asked with interest.
"The Mongolians—including their members of parliament—are very uneasy about the Chinese holding 100% of the rights!" Viduka said directly. This was precisely why he had rushed back.
"The Mongolians personally assured me—they are prepared to apply pressure on the Chinese, to force them to give up part of the mining rights! We even have a chance at gaining controlling interest!"
"You signed a secret deal with them?" Alba and Eric perked up instantly.
"It's only a verbal agreement for now," Viduka admitted, somewhat helplessly. "The Mongolians are shrewd. They'll never sign a formal agreement unless the deal is already done. Only when everything is finalized will they put pen to paper."
"What do the Mongolians want?" Eric asked quickly.
"They want money. And they want a share of the mining rights," Viduka said quietly, almost in a whisper. "Those were the conditions I agreed to."
"Money—we can provide that. How much of the rights do they want?"
"Not much. Just enough to ensure we retain controlling interest."
"That sounds very tempting."
"If you're interested, we can talk to them directly. They're willing to send someone over."
Viduka lowered his voice again. "They told me—if we meet their conditions, they'll fully support our actions!"
The news was explosive.
Alba and Eric were visibly shaken.
Previously, they had thought this project was out of reach.
Yet after one trip to Mongolia—where Viduka had originally planned only to inspect a coal project—he had returned with a game-changing opportunity.
"This is a great chance!" Alba said, making a decision on the spot. "We must arrange a private meeting with the Mongolians!"
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