Chapter 272: Making a Billion or So Dollars
From the airport to the hotel, Cristos remained silent, focusing solely on driving. Upon arrival, Li Tang got out, pulled his luggage from the trunk, and bent down to look through the car window at Cristos in the driver's seat.
"Mr. Cristos, it's about dinner time, and I haven't eaten yet. Would you wait a bit? I'll just put my luggage in the room, then let me treat you to dinner," he said warmly. "Last time you visited Yanjing, I really wanted to treat you, but you left for America in a hurry."
Cristos remained expressionless, clearly not interested in being friendly.
"I don't have the time," he replied bluntly, turning down Li Tang's invitation outright.
"Oh, that's a pity." Li Tang smiled awkwardly but persisted, pulling some gifts from his luggage and placing them on the passenger seat. "These are some local specialties from Yanjing. Please accept them."
Cristos glanced briefly at the numerous gifts but showed no reaction. Instead, he said frankly, "You're Alice's boss, not mine. Maybe you're talented, but I still don't see a good future for your company."
"What do you mean by that?" Li Tang asked awkwardly.
"Your company's future won't be bright," Cristos replied flatly, observing Li Tang intently. "The leader defines a company's potential. In my opinion, your company will run into trouble sooner or later."
"Perhaps you misunderstand me," Li Tang set his luggage down, determined to reason with Cristos. "We've met only three times; perhaps you don't really know me yet."
"I have no interest in knowing you personally," Cristos stated seriously. "My only concern is my daughter."
"I understand your feelings," Li Tang sympathized genuinely.
He recalled how He Runqi had once described Cristos, who'd rushed angrily to Yunding Tower with a baseball bat after discovering Alice had quietly left Goldman Stanley to join a Chinese firm. For a father, his daughter's safety and well-being always came first.
"I don't know how you did it—perhaps you cast a spell—but Alice has set her heart on working in China for you."
"Maybe it's my charm?" Li Tang joked, chuckling lightly, but he was the only one laughing.
Cristos remained unmoved. "I strongly opposed her working in China. At least at Goldman Stanley, her working conditions were guaranteed. But I'll never approve of her working for your company!"
"If you truly understood our company, perhaps you'd think differently," Li Tang said calmly. "You might even want to join us."
"No, never!"
Cristos didn't want to argue any further. His concern was for his daughter, not the young man in front of him. Without another word, he stepped on the gas and drove off into the city's neon-lit darkness.
"This is tough," Li Tang muttered, unsure exactly what the problem was, feeling misunderstood and somewhat wronged. Shrugging it off, he took his luggage into the hotel.
The next day, Alice finally arrived from Australia, along with Emily, Catherine, and other financial staff. Alice had returned home first, borrowed the family car, and was now driving Li Tang back to her house.
"You saw my dad yesterday?" Alice asked casually.
"Yes, we had a pleasant chat," Li Tang replied diplomatically.
"My father isn't great at conversation," Alice said while driving. "At first, people think he's cold or stubborn, but once you get to know him, you discover he's warm-hearted and gentle. My parents divorced when I was young, and my mom started a new family. Joanna and I stayed with Dad, and he's always been caring. Even when busy, he never ignored us."
"He must have done a great job raising someone as talented as you," Li Tang smiled. "He sounds like a responsible father."
"Yes, he's always been a good father."
Alice had left Emily, Catherine, and the others at the hotel, bringing only Li Tang to her home—Li Tang wasn't sure why. The main goal of their trip to America was to raise funds, or at least to gauge investors' interest in their iron ore project.
Noticing Li Tang staring ahead silently, Alice thought he was nervous. "Don't worry too much. You can talk about work when we meet. Dad often discusses work at home, but Joanna and I find it boring."
"But we're meeting your dad today exactly to discuss business," Li Tang chuckled.
"Yes, but mainly for you two to get acquainted first," Alice explained cheerfully, unaware of the uncomfortable meeting the previous night. "My dad's a highly educated mining expert—top school, doctoral degree. Even at Freeport Copper and Gold, he's done exceptional work, overseeing major copper and gold mining projects. I'm sure he can give us valuable advice on our iron ore project."
"I believe so," Li Tang said noncommittally.
They soon arrived at a large house with an expansive lawn. No one greeted them at the entrance.
"Joanna's at school, Dad's inside," Alice said, leading Li Tang through the hall. They found Cristos watering plants in the backyard.
He'd already heard their car and knew they had arrived.
"Dad!" Alice called out warmly.
Cristos didn't show any extra enthusiasm despite Alice's presence, continuing to water the plants. "Raising two billion AUD in the American market isn't completely unrealistic," he began coolly.
"Does that mean you've found investors interested in our project?" Alice asked hopefully.
"Newmont recently acquired Normandy Mining and AngloGold, transactions far exceeding two billion AUD," Cristos continued, ignoring Alice's question directly. "Companies like Newmont easily raise capital. Why?"
"Why?" Alice prompted, although both she and Li Tang probably knew the answer.
"Because they have strong profitability!" Cristos raised his head, looking steadily at Li Tang. "But your Lianying Mining lacks such proven profitability. Raising two billion AUD here is nearly impossible."
"Oh..." Alice slumped in disappointment. "I thought you had it all figured out already."
"There's only so much I can do," Cristos set the watering can down, clapped his hands clean. "Come, I'll introduce you to Terrence, the CEO of Freeport Copper and Gold. He's well-connected with major banks and fund managers. If he decides to support or even guarantee your project, raising two billion AUD will be straightforward."
"Thank you," Li Tang sincerely replied.
"No need. I'm doing it for Alice," Cristos replied shortly.
He quickly brought Li Tang and Alice to Freeport Copper and Gold headquarters. The building, though not tall, was expansive and impressive, fitting for a globally renowned mining giant. Freeport Copper and Gold was famous worldwide, ranking among the top copper producers globally and first in molybdenum production. It owned the world's largest copper-gold deposit in Indonesia, and the massive Morenci Mine in Arizona, producing over 500,000 tonnes of copper annually.
Though currently ranked second in American copper production behind Douglas Company, Freeport's ambitions were immense. In a few years, barring surprises, Freeport would likely acquire Douglas Company for over 30 billion USD, a jaw-dropping "snake-swallowing-elephant" merger that would dominate industry headlines. At the peak of the iron ore boom, Freeport would even rival giants like BHP and Rio Tinto.
Entering the headquarters, Li Tang felt a powerful sense of scale and ambition. They waited about ten minutes outside Terrence's office before finally being admitted.
"Cristos, is this the owner of Zhongcheng Mining you told me about?" Terrence asked curiously, looking at Li Tang and then Alice. "Isn't this your daughter?"
"Yes, my daughter works at Zhongcheng Mining," Cristos explained. "Besides Zhongcheng Mining and the Talego copper-gold rights, they've recently acquired an iron ore company called Lianying Mining in Australia."
"Lianying Mining?" Terrence recalled vaguely.
"They recently discovered a 1.2-billion-tonne iron ore deposit and announced a two-billion AUD development plan."
"Oh, them! So young and yet involved in such big moves!" Terrence turned curiously toward Li Tang. "Are you the actual boss, or is your family behind it?"
He found Li Tang very young-looking, especially for an Eastern face, whose delicate features made him appear even younger compared to his Western counterparts who often looked older.
"Mr. Terrence, pleased to meet you," Li Tang firmly shook his hand. "I'm in full control of my company."
Terrence's question was clearly testing if Li Tang was the real decision-maker. After all, talking at length only to discover someone else held the real power would be a waste.
"So you are the owner?" Terrence asked, intrigued.
"He's indeed the ultimate decision-maker!" Alice confirmed firmly.
"Please, sit." Terrence gestured politely. "Cristos said you're here to discuss some significant business? I'm very busy, so please keep it substantial. Anything below ten million USD isn't worth our time."
"What counts as substantial?" Li Tang asked curiously.
"Something like Talego Copper-Gold Mine," Terrence smiled slightly. "If you're open to developing Talego jointly, I'm available anytime."
After Cristos returned from Yanjing previously, he'd informed Terrence that acquiring rights to Talego Mine was impossible. Terrence had given up then. Now that Li Tang had come knocking, what other matter besides Talego Mine could it possibly be?
"They didn't come here for the Talego copper-gold mine," Cristos quickly explained to Terrence, realizing he hadn't made it clear earlier. "Lianying Mining in Australia needs financing of two billion Australian dollars. This time, we mainly want to know if our company has any interest. If not, I hope you can help connect them with investors who might be interested in iron ore projects."
"Oh—I see." Terrence finally understood, nodding slightly. "For your sake, Cristos, I can help."
"This is our project proposal," Alice immediately handed Terrence the iron ore project documentation from Lianying Mining.
Terrence barely glanced at it before casually placing it on his desk. Picking up his coffee, he said calmly, "I must warn you, your chances aren't great."
"Mr. Terrence, please help us out this time. Our project has full support from the South Australian government, and all approvals are proceeding smoothly. If we get the funding, iron ore production could start within three years at the earliest!" Alice said anxiously.
"Many people try their luck in the mining sector, hoping to attract capital. If someone is interested in investing, you'll have a chance," Terrence remarked. He then picked up another document from his desk, saying, "Look, just now another company came looking for investment in an exploration project."
"What project is it?" Cristos asked curiously.
"A company called Northern Dynasty Minerals. They're doing a copper-gold exploration project called Pebble Mine in Alaska." Terrence passed the materials directly to Cristos. "Since you're here, it saves me from finding you later. Take a good look and let me know if you find anything interesting."
"Understood," Cristos promptly nodded, taking the papers. "Mr. CEO, how much financing are they looking for?"
"About twenty or thirty million U.S. dollars, I think," Terrence replied indifferently. "I asked around. Northern Dynasty Minerals is a publicly traded company with a market value of only about twenty million dollars. Their copper-gold claims in Alaska haven't yielded very promising results so far. Frankly, I'm not interested in investing. But if you notice something else after reviewing their materials, come talk to me."
"I'll get back to you soon!" Cristos answered respectfully.
"Anything else we need to discuss?" Terrence clearly intended to end the meeting.
Realizing that Terrence had no real interest in their project, Li Tang didn't push further. They'd just met, so expecting the man to go out of his way to help wasn't realistic. Standing politely, Li Tang shook Terrence's hand, keeping silent.
Alice, however, was visibly disappointed and pleaded, "Mr. Terrence, please help us!"
"I'll forward your project and financing proposal to some investors. If anyone shows interest, I'll arrange a meeting," Terrence offered a professional smile. "Please be patient."
Leaving Freeport Copper & Gold's headquarters, Li Tang understood their chances were nearly zero. Transitioning a junior exploration company into a capital-intensive, operational mining firm was extraordinarily difficult. Such projects needed massive initial investment, smooth execution without delays, and eventual profitability. But historically, mine developments rarely went smoothly. Investments often ballooned over time, deadlines repeatedly pushed back, and the return period could stretch from five to ten—even twenty or thirty—years. As a result, capital markets rarely favored mining projects unless the companies were already successfully producing substantial profits.
Alice also sensed this from Terrence's attitude and remained gloomy.
"I told you on the phone that the possibility was nearly zero," Cristos patted Alice's head. "Don't feel bad. If it failed, it failed."
Alice refused to speak, shaking her head and climbing into the car.
"I took the day off to cheer you up," Cristos smiled ruefully. Sitting in the driver's seat, he looked back to see Li Tang and Alice settled comfortably in the car, then opened the glove compartment to stow the project materials.
"Cristos, could I take a quick look at those documents?" Li Tang suddenly asked.
"These are Northern Dynasty's project and financing plans. What do you want to see them for?" Cristos hesitated, reluctant to share another company's proprietary information.
"I heard Mr. Terrence mention it's a copper-gold exploration project," Li Tang smiled harmlessly. "As you know, I personally participated in discovering the Talego copper-gold mine. Since the claim rights are practically in my hands, I remain very curious about such exploration projects."
Cristos eyed Li Tang suspiciously, still not fully trusting the young Chinese businessman.
"You just don't trust us!" Alice grumbled irritably.
"Alright, alright, it's just a document. Look at it if you want," Cristos quickly relented, handing Li Tang the materials. "But don't leak any information, and be careful with it—I haven't even read it yet."
"You have my word." Li Tang immediately began flipping through the document.
Even though the car bounced slightly as it moved, causing him dizziness as he scanned through the dense text, his interest was piqued. He quickly finished the entire document thanks to his proficiency in English and professional expertise. By the end, he could hardly suppress his excitement.
The Pebble copper-gold mine project!
There was no mistake—it was exactly the copper-gold mine project he knew of!
If nothing changed historically, Northern Dynasty Minerals would invest roughly two hundred million U.S. dollars over the next several years into exploration in Alaska. Starting around this year, in about three years, they would discover a massive, world-class mineral deposit on the project's eastern side—arguably the largest undeveloped copper-gold resource globally!
This discovery would become a hugely significant mineral resource, engaging the U.S. Army, Department of Defense, Army Corps of Engineers, and countless environmental and mining agencies. Every time there was a presidential election, this mine would resurface as a critical national issue. Every incoming president would inevitably need to address it publicly, underlining its enormous political and economic significance.
At present, Northern Dynasty's Pebble project had only identified small deposits and hadn't uncovered its true value. Undoubtedly, this was an excellent opportunity!
Li Tang closed the documents and leaned back, eyes shut, lost in thought.
The iron ore project in Australia had received necessary permits and approvals. Yet raising two billion AUD quickly seemed impossible. Instead of forcibly trying to shift into heavy asset operations, perhaps maintaining their current asset-light exploration model and focusing on discovery would be better.
Mine development promised great wealth but carried enormous risks. Exploration required relatively smaller investments, but upon discovering a significant deposit, returns could be astronomical. Pebble Mine offered exactly this opportunity—a potentially massive return of several hundred times their initial investment.
He made his decision at that moment: he was going after this mine!
Earning money was his primary goal; the method mattered little.
As the car moved steadily forward, Cristos, fully focused on the road, suddenly heard Li Tang speak.
"Mr. Cristos, what do you know about Northern Dynasty Minerals?" Li Tang asked casually.
"They're an exploration company that acquired Cominco Mining's rights to the Pebble copper-gold project in Alaska last year," Cristos answered without turning. "I met their engineers at technical conferences, but since we had no cooperation, I'm not particularly familiar."
"Why did they approach Freeport Copper & Gold?" Li Tang continued.
"In America, only Freeport Copper & Gold and our competitor Douglas Company can afford large-scale mining investments. Northern Dynasty came to us seeking financing. Only our two companies might have interest in their exploration project."
"Do you think their project still has exploration value?"
"I recall Northern Dynasty discussing the project at a technical symposium. If my memory serves, mineralization was discovered as early as 1988, but the reserves weren't particularly high, and ore grades were modest. At that meeting, many engineers offered suggestions, but nothing significant has emerged recently."
Cristos had participated in numerous such technical discussions—projects always appeared promising at first, potentially hiding significant deposits. However, reality often disappointed, and great possibilities ended empty-handed.
"Do you know Northern Dynasty Minerals' CEO personally?" Li Tang asked directly.
"No, but I have the contact information of their head of exploration."
"It sounds like they just met with Terrence, so they should still be in Phoenix."
Li Tang knew financing two billion AUD was nearly impossible. But as the proverb said: when one door closes, another opens. He wanted to meet Northern Dynasty Minerals personally to see if he could acquire their Pebble Mine project.
Since no major deposit had been confirmed yet, Northern Dynasty was affordable—Terrence had even mentioned their market value at just twenty million USD, a price Li Tang could manage.
He'd borrowed around 500 million RMB from China Bank, spending roughly 300 million RMB on Lianying Mining, leaving about 200 million RMB available. Additionally, proceeds from the Shazhai molybdenum mine sale—around 150 million RMB—had already started coming in.
Rather than leaving funds idle or pouring them into insufficient iron ore financing, why not bet here? If all went smoothly, he might easily net eight hundred million to a billion dollars in profits!
"I want to meet with them," Li Tang announced directly. "Mr. Cristos, could you introduce us?"
Cristos glanced back curiously. "Why do you want to meet them?"
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