Chapter 292: Is This Kid Obsessed?
Shareholder representatives entered the spacious, brightly lit conference room, each taking a seat according to the nameplates arranged on the table.
In front of every participant was a prepared set of documents, carefully placed in advance. Typically, meetings would have an agenda or a presentation manuscript distributed beforehand so attendees could familiarize themselves with the discussion topics.
However, the documents prepared for this shareholders' meeting were noticeably thick.
"So, we've reached an agreement with Mongolia!" Cheng Muye picked up the top document and addressed everyone with a smile. "Last time, General Manager Qin said we'd likely have to wait until Mongolia finished its investigation into us. Considering how their government agencies usually drag things out, I thought we'd be waiting at least half a year. But surprisingly, it's resolved so quickly."
"General Manager Qin has trained at Wukuang Group for many years and has clearly benefited from Director Niu's guidance. His negotiation and coordination skills are indeed strong!"
Everyone chatted casually as they browsed through the documents.
Chen Jinghe put the cooperation agreement aside and immediately began reviewing another document beneath it—the detailed geological exploration report for the Talege Coal Mine.
As someone with a deep technical background in geology, he had always maintained an obsessive enthusiasm for geological data, sometimes to the point of being considered eccentric by others. Within Purple Mining, technology was always prioritized as the primary driving force for production.
The report was quite thick, obviously translated from another language, which occasionally made the reading somewhat awkward. Yet, critical chapters and important data were still very clearly presented.
The more he read, the more startled he became.
As a seasoned geologist, he understood each number on the pages clearly, fully aware of their significance and implications.
While other shareholder representatives were busy reviewing the cooperation agreement, Chen Jinghe had already become completely absorbed in the exploration report.
"Are we really giving Mongolia 34% of our shares directly?" Feng Sinian, general manager of Jiujiang Copper, was the first to voice concern.
Jiujiang Copper had a relatively small stake in Zhongcheng Mining and had previously tried to invest more funds to gain additional shares when Zhongcheng Mining urgently needed capital. But the other shareholders had objected, preferring instead to maintain their existing proportional stakes.
Now, with many copper companies recognizing the huge potential in copper mining, competition for high-quality mining rights had intensified. The strength of any mining company didn't lie solely in how long it had existed or how much money it had accumulated, but primarily in whether its mineral reserves could sustain operations for decades, or even a century.
Jiujiang Copper's copper reserves of roughly 8 million tons had already fallen behind other domestic enterprises. High-quality mining rights were extremely challenging to acquire. Seeing now that a substantial portion of the shares in the Talege Copper-Gold project might be handed away, Feng Sinian naturally felt anxious.
Niu Fu had anticipated that certain shareholders would object, so he was mentally prepared.
"In evaluating this agreement, we can't just look at what we've given up; we should also examine what we've gained," he explained.
"But it seems the primary benefit we've received is Mongolia's official approval for our project development plan. Is it really necessary to relinquish 34% of our shares just for their signature?" Geng Feiran was equally perplexed.
"There are tax incentives, free provision of land, and most importantly, forty years of coal mining rights!" Niu Fu emphasized the key points of the agreement. "Each benefit has significant value!"
"We've all visited the Southern Wilderness province in Mongolia. That place is completely deserted. Land there has almost no real monetary value."
"But I admit, the tax exemption policies for the first two years of operations are quite beneficial."
"How did coal mining rights suddenly come into play?"
"Our copper refining does require coal, but there's no particular need to mine coal directly in Mongolia."
"For the Talege Copper-Gold mine project, we'll set up crushing plants and concentrators to produce copper concentrate, but ultimately it must be shipped back to China for refining. If coal is needed, domestic coal would obviously be more convenient."
"Could Mongolia possibly have asked us to build a copper smelter there as well? Would the coal mining rights be meant for us to produce both coal and copper concentrate for local smelting?"
"If we're forced to build a smelter there, refining copper locally before transporting back to China, then this agreement is indeed extremely disadvantageous for us!"
"In that scenario, most value-added refining processes would remain in Mongolia, leaving us minimal profit margins."
"We must approach this cautiously!"
When the conversation reached this point, many representatives became visibly worried.
Among Zhongcheng Mining's major shareholders—Li Tang Prosperity Holdings, Shenxia Group, Huajin Corporation, Hualv Corporation, and Luoyi Molybdenum—none operated copper refining businesses.
Once copper concentrate from Talege Copper-Gold mine arrived in China, it would naturally be handled by Wukuang Group, Jiujiang Copper, or Tongdu Nonferrous Metals. Particularly Jiujiang Copper and Tongdu Nonferrous, despite smaller shareholdings, held significant sway within the board and would undoubtedly secure major benefits from refining operations.
If a smelter was established in Mongolia, not only would these two companies strongly oppose it, but the China Nonferrous Metals Industry Association and related government departments would also object. Value-added taxes from refining were too important to relinquish.
Niu Fu understood clearly the concerns of Jiujiang Copper and Tongdu Nonferrous Metals, but he refrained from explaining further since the meeting hadn't officially begun.
During their earlier discussions, Cheng Muye, Cui Mingyuan, and Lai Xiangrong occasionally contributed a comment or two, while Li Xingchao and Chen Jinghe remained deeply engrossed in reading the materials without engaging with the conversation.
After the chatter momentarily subsided, Chen Jinghe finally raised his head. His weathered, honest face resembled that of a humble farmer from the countryside.
He glanced around and spoke in a measured but firm voice, "You all underestimate the true value this agreement has for us!"
This statement was undoubtedly a direct rebuttal to the earlier concerns expressed by Feng Sinian, Geng Feiran, and others.
Purple Mining, Jiujiang Copper, and Tongdu Nonferrous Metals had now effectively become the three pillars of China's copper industry, competing intensely yet also motivating one another.
A healthy rivalry existed among them, with none easily conceding to the others. Purple Mining, being the newest rising star, was determined to surpass the veterans, who would naturally resist yielding ground.
"Chairman Chen seems to be criticizing us!" Feng Sinian retorted jokingly.
No one commented on their verbal exchange, understanding the fierce competition between these two companies. Their leaders being competitive was nothing unusual, and it certainly didn't affect their private relationships.
Ignoring Feng's provocation, Chen Jinghe instead turned to Li Xingchao: "Shenxia Group is a leading coal enterprise. Director Li surely knows coal better than anyone here."
"Chairman Chen is too kind," Li Xingchao smiled humbly. "Indeed, Shenxia Group has extensive experience in coal. Regarding coal mining or market analysis, we've developed our own methodologies."
"What's your opinion on this coal project?" Chen Jinghe asked with genuine curiosity.
"I personally visited Mongolia's Southern Wilderness Province two or three years ago and held initial discussions with Mongolian authorities about cooperation," Li Xingchao replied, clearly familiar with the project, though somewhat regretful. "We only explored it superficially at the time and didn't proceed with detailed negotiations."
"Why didn't negotiations continue?" Chen Jinghe asked.
"As you all know, mineral market conditions weren't promising in the past several years, particularly coal. Since the 1990s, the coal sector consistently operated at a loss. Even a giant like Shenxia Group faced enormous difficulties, let alone smaller firms," Li Xingchao recounted grimly, recalling the coal industry's bleakest years. "From an economic standpoint back then, the investment didn't seem promising. But I must admit, the coal quality there is extraordinarily good!"
"After reviewing this detailed exploration report and chemical analysis data, it indeed looks impressive!" Chen Jinghe confirmed, referring to the documents.
"Mongolia isn't known for coal exports. Their two largest mines near Erdenet mainly produce thermal coal for local power plants, serving the copper mines," Li Xingchao explained. "The calorific value of their thermal coal is generally around 2,000–3,000 kcal/kg."
Chen Jinghe nodded, adding a key point from the report, "Talege Coal Mine's thermal coal tested at around 5,500 kcal/kg."
"Yes," Li Xingchao affirmed enthusiastically. "High-quality coal with such low sulfur and phosphorus content is truly rare! Even more valuable is its abundance of premium coking coal!"
Everyone present recognized the value of premium coking coal, essential in metallurgy for its excellent carbon reduction properties and calorific value, commanding prices far above thermal coal due to scarcity.
"Why didn't you pursue cooperation back then?" Chen Jinghe pressed.
"Despite the mine's excellent potential," Li Xingchao sighed, "the severe lack of infrastructure made production costs prohibitively high. At that time, China's domestic coal production largely fulfilled our needs."
"Understood," Chen Jinghe nodded thoughtfully.
"But personally, I'm very optimistic about Zhongcheng Mining securing this 40-year coal mining right!" Li Xingchao stated firmly.
"What leads you to that conclusion?" Chen Jinghe inquired, eager to hear more of Li Xingchao's insights into coal mining.
Li Xingchao smiled gently, "The coal industry will undoubtedly experience rapid growth over the next few years!"
"You support this agreement and cooperation with Mongolia?" Chen Jinghe asked.
"Of course!" Li Xingchao nodded decisively and elaborated, "Not because of any particular person, but because the mining rights for this coal project genuinely possess tremendous potential!"
Chen Jinghe agreed with Li Xingchao's opinion, then turned his head towards Niu Fu, "Your Wukuang Group is essentially the entity managing the operational decisions for the Talege Copper-Gold Mine, and obviously you knew about this agreement earlier than us..."
"Actually, I only learned the specifics of the agreement yesterday," Niu Fu clarified.
"What's your stance, then?"
"Li Tang's opinion represents our opinion!" Niu Fu stated firmly.
Just as he had promised Li Tang yesterday, he would support Li Tang's decisions unconditionally.
"And where is Li Tang?"
Chen Jinghe scanned the room, not finding Li Tang anywhere. "We've been sitting here for quite a while now. He's nowhere to be seen—what game is he playing?"
"He negotiated this agreement with Mongolia himself, so he should be the one to explain it clearly to us!"
"Leaving a group of old-timers like us waiting here—really not appropriate."
"He's young, yet already acting important!"
…
While the senior executives expressed dissatisfaction, Li Tang was actually sitting comfortably in the adjacent lounge.
Dai Yingchi had been closely monitoring the conference room and noticed everyone searching for Li Tang. He quickly jogged over and said, "Mr. Li, everyone's looking for you."
"Have they reviewed the documents already?" Li Tang leisurely sipped his tea.
"Yes, they have, and they've had some discussions."
"Did they argue?"
"Not quite, but there were differing opinions."
Li Tang glanced at his watch. The meeting was scheduled for 9:30 AM, and it was exactly 9:29 AM now. He stood up, signaling Li Xinqi and Xiao Xi, who were sitting beside him, "Let's go; it's time for the meeting!"
Li Xinqi quickly put down the fruit she'd been eating. She had been chatting with Li Tang, assuming there was plenty of time before the meeting started. Now, after checking her watch, she was startled—they were almost late!
"Oh no, I lost track of time talking with you! You're the chairman and supposed to be hosting this meeting, yet instead of arriving early, you've been relaxing here, making me think we had plenty of time!"
She grabbed Xiao Xi, hurriedly rushing into the conference room, and sat directly behind her father, Li Xingchao.
Li Xingchao glanced curiously at his daughter but didn't comment.
"Impeccable timing!" Niu Fu glared at Li Tang, unsure whether to compliment or warn him.
Every time they saw Li Tang, they always felt a sense of amazement, accompanied by mixed emotions.
This young man had already accomplished so much.
With his whole life still ahead of him, how many more incredible feats would he achieve?
"You really sold the Pebble project?" Chen Jinghe couldn't help but put down his documents, asking a question completely unrelated to today's meeting topic.
"I sold it to Lituo." The sale had been reported in the news recently, so Li Tang didn't need to elaborate further.
"What a shame." Chen Jinghe shook his head regretfully, "Sold it for 330 million USD, right? Honestly speaking, for domestic companies, coming up with such a large sum in cash within a short period is truly challenging. Nevertheless, this was genuinely a rare and excellent project."
"I spoke with Lituo's people while in Austria, and they offered a fair price, so I agreed."
"You did it to secure railway transport rights from Lituo, right?" Cheng Muye immediately recognized Li Tang's strategic move.
"That was part of the reason." Li Tang nodded. He couldn't fully explain the specific motivations behind selling the Pebble project so hastily.
"We can discuss that matter later. For now, let's address your agreement with Mongolia."
Niu Fu brought everyone back on track, "You personally drafted this agreement with Mongolia's top officials, correct?"
"Yes."
"Is there anything you'd like to particularly highlight?"
"I assume everyone has already read through the main terms of the agreement. This framework outlines the broad terms of our cooperation. Specific details for each sub-project will still require further discussion and finalization."
Li Tang had purposely delayed entering the meeting to allow everyone to thoroughly read the materials and calm their initial reactions, hoping to avoid immediate arguments.
He was well aware that some shareholders would naturally question certain terms of the cooperation agreement.
Niu Fu kept it concise, "If there's nothing specific you wish to highlight, then tell us your overall view of this agreement."
"There is no better solution than this agreement!"
Li Tang's assessment was both succinct and boldly decisive.
Could he possibly sound more arrogant?
Everyone had several unanswered questions in mind, such as how they would proceed with coal mining after acquiring the rights. Was there a possibility to reduce Mongolia's 34% stake in Southern Wilderness Resources? Would the copper-gold mine and the coal mine be developed jointly or managed separately? These uncertainties still lingered in their thoughts.
Yet, Li Tang had immediately declared this the best solution available.
If anyone raised a question now, it would sound as though they were challenging Li Tang's judgment!
No matter how young he was, Li Tang had already earned everyone's deep respect through his achievements.
Even if some shareholders disagreed with certain terms of the agreement, none held personal objections against Li Tang himself.
The fact that everyone had gathered here today to discuss a mining project capable of impacting the global copper industry was a testament to Li Tang's exceptional leadership.
Chen Jinghe initially intended to discuss technical details with Li Tang, but seeing the current situation, he decided against it.
He clearly sensed that this young leader had an unwavering resolve.
"So, are you suggesting we proceed straight to voting?" Chen Jinghe asked.
"Everyone has already seen the agreement and understands its critical points."
Li Tang wasn't deliberately trying to shut down further discussion, but rather aiming to set a firm foundation for negotiations.
The coal mining rights had to be secured, without question!
While some might not feel optimistic about Mongolia's coal development potential, obtaining these rights would have far-reaching impacts.
It wouldn't take many years—possibly as soon as after this year—for everyone to fully grasp the strategic importance of these coal resources!
Currently, neither domestic nor international investors showed high enthusiasm for coal development, still trapped in the mindset of previous downturns, believing the coal industry remained in decline.
If not for this pessimistic view, Mongolia would never have quickly agreed to grant mining rights to them.
"I want to finalize all terms of the agreement with Mongolia as soon as possible, and officially sign it," Li Tang emphasized earnestly.
"Is it really that urgent?" Cheng Muye asked cautiously.
"Young people always act impulsively," Lai Xiangrong sipped leisurely from his large teacup, commenting softly.
"For such a significant decision, I believe we should consider things more carefully," Cui Mingyuan gently reminded.
State-owned enterprises were notoriously slow-moving, typically holding numerous meetings, inviting countless experts, meticulously examining every detail to ensure no mistakes, before finally implementing major decisions.
For a project as impactful as the Talege coal mine, these older executives might easily deliberate for a year or two, by which time the opportunity could have completely vanished.
"We must decide quickly!"
Li Tang couldn't afford to wait.
If Mongolia realized the immense value of the Talege coal mine and reconsidered their decision, the window of opportunity would close.
At that point, they could never obtain the mining rights again.
Mongolia's indecision could cause such a precious resource to remain untapped, ultimately harming both parties.
Therefore, while the current mutual agreement existed, it was imperative to finalize the deal swiftly, rather than regret missed opportunities later.
Faced with Li Tang's firm stance, everyone fell into thoughtful silence.
The investment required for the Talege copper-gold mine was enormous, with profound implications. It involved not only the companies present but also major domestic corporations like Huaye Group, Huatie Group, and Dalian Heavy Industries.
If the project failed, it would create chaos across numerous sectors.
Top-level leaders were also deeply interested in the project's progress, keeping close tabs and frequently inquiring about its status.
"I noticed many cooperation terms, such as Mongolia's stake in Southern Wilderness Resources, initial investment amounts, payment methods, profit distribution, and sales methods, are still vague and lack detailed plans."
Within Wukuang Group, Niu Fu's team had already analyzed the agreement in depth, concluding it was just a preliminary outline—like the foundation and structural framework of a building, still requiring many detailed steps, including construction and interior finishing.
Every minor detail deserved in-depth examination and discussion, requiring continuous hard work, not achievable overnight.
"My idea is for us to unify our opinions quickly, form a specialized team, and immediately head to Mongolia to negotiate more detailed cooperation terms!" Li Tang's urgency always seemed evident in his manner and tone.
"I understand your intention," Niu Fu showed his understanding.
"We should strive to finalize the cooperation within two months!" Li Tang clearly stated a deadline.
This timeframe might appear long at first glance, but for a project of such significance, two months was rather rushed. If disagreements arose on any particular clause, negotiations could stall indefinitely.
Today wasn't about seeking opinions—everyone present clearly realized that.
"Then let's vote," Chen Jinghe declared straightforwardly, promptly raising his hand.
Niu Fu and Li Xingchao also raised their hands swiftly.
The others hesitated briefly.
"Sometimes, I can't help but believe what Qian Hao once told me—whenever Li Tang proposes a project, just blindly follow along!" Cui Mingyuan raised his hand.
Although Lai Xiangrong and Cheng Muye weren't entirely clear about the details, they raised their hands too, feeling compelled by Li Tang's authoritative manner.
It felt as if Li Tang had forced them into agreement.
"Alright, we've secured the majority's support. Let's promptly draft detailed terms based on this framework agreement," Li Tang addressed everyone. "If you have specific suggestions or modifications—even down to the wording—please write them clearly. Our negotiation team will carefully consider them."
The subtext was obvious: even if opinions were given, they might be selectively adopted.
This young man's attitude was becoming increasingly domineering.
His position was crystal clear—the coal mining rights were non-negotiable! It was an unquestionable command.
Any additional suggestions were fine, as long as they didn't jeopardize the overall plan. Good ideas would naturally be appreciated as a bonus.
Each person seemed ready to voice many concerns, but Li Tang's resolute stance effectively silenced them.
In fact, Li Tang had no desire to explain further.
"The meeting ends here," Li Tang abruptly declared, collected his notebook, turned around, and left the conference room.
Everyone was left in silence, staring helplessly at his departing figure.
They hadn't seen him in some time—when had he developed such an arrogant attitude?
"Has this kid gone crazy?" Lai Xiangrong pointed toward Li Tang's departing back, his wrinkled face filled with bewilderment.
"Probably," Cheng Muye agreed, nodding slowly.
In the evening dinner gathering, Li Tang appeared but did not drink. He quickly finished two bowls of rice and returned promptly to Yunding Tower.
Qin Jianshe and his team were working overtime, meticulously studying the details of the agreement.
They had summoned additional experts from Wukuang Group's legal and investment departments, and even invited professionals from Huaye Group and Huatie Group to participate in drafting a comprehensive cooperation agreement. They needed to finalize a clear internal plan before further negotiations with Mongolia could continue.
In the midst of this intensive work, an unexpected visitor arrived.
It was none other than Hu Shitan, general manager of Lituo's China branch.
Hu Shitan initially wanted to treat Li Tang to dinner, but after Li Tang repeatedly declined due to his busy schedule, they arranged to meet briefly at a café near Yunding Tower.
"CEO Li, your schedule is incredibly tight. It took three full days just to see you," Hu Shitan greeted warmly, hair slicked neatly back, shining brightly.
Despite Li Tang repeatedly avoiding him, Hu maintained his friendly demeanor, smiling as warmly as ever.
"I'm genuinely busy, please get straight to the point," Li Tang clarified directly.
He wasn't intentionally dismissive or arrogant—he simply wanted to avoid involvement with someone like Hu Shitan.
In the future, this man would commit severe mistakes, ending up imprisoned for ten years. Public anger had even branded him a "traitor," though strictly speaking, Hu had already become an Austrian citizen, making the label inaccurate.
The issue he'd been involved in was sensitive and controversial.
Unlike figures like Xiao Yongyue or Liu Shanlong, who had been investigated but whose cases were minor enough for eventual forgiveness, Hu Shitan's case was far graver. Li Tang did not want his own reputation to suffer from associating too closely with him.
Caution was prudent.
"Understood, understood!" Hu Shitan smiled again. When the waiter brought coffee, he quickly handed a cup to Li Tang. "Kopi Luwak—it's very good."
Li Tang, uninterested in coffee, remained indifferent. "What did you want to discuss?"
"Our companies actually share deep connections!" Hu Shitan gestured between them warmly. "Lianying Mining is one of your subsidiaries, and it just signed a 60-million-ton iron ore transport agreement with our Lituo headquarters. We'll be partners for a long time to come!"
"You're exaggerating." Li Tang remained distant. "Just say what's on your mind."
"See this?" Hu joked with his colleagues. "Those who achieve big things truly value every minute!"
After the humorous exchange, Hu's expression turned serious. "I'm here today to discuss what you're busy working on now."
"Mr. Hu is truly well-connected, knowing exactly what I'm dealing with."
"You stole the operating rights of the Talege coal mine from Yoshida Tomonori, right?" Hu said calmly, making it sound casual rather than accusatory.
Such an approach avoided open confrontation.
Li Tang wasn't deceived by Hu's apparent calmness. His tone hardened: "This matter doesn't involve you."
"It does involve me, deeply!" Hu responded assertively.
"Oh?"
"Lituo headquarters and Nippon Steel had originally planned to jointly develop the Talege coal project. Negotiations were nearly complete when you suddenly stepped in."
Hu Shitan sipped his coffee, closely observing Li Tang's expression. "CEO Li, honestly, your actions weren't very appropriate."
"Normal commercial competition isn't appropriate?" Li Tang's irritation was evident.
"I'm not trying to meddle. Yoshida Tomonori is my friend, and you're my friend too—"
"I wouldn't dare claim friendship with you," Li Tang quickly interrupted, waving dismissively.
Hu Shitan, taken aback by Li Tang's blunt refusal, saw his friendly smile freeze instantly.
What's wrong with being friendly and calling someone a friend?
He suddenly understood that Li Tang wasn't politely avoiding a friendship—he genuinely disdained any association with Hu Shitan personally.
Who does this kid think he is?
Recalling Li Tang's numerous recent achievements and comparing them to his own status, Hu realized bitterly that this young man had become arrogant, openly looking down upon him as merely a branch manager.
Hu dropped his false friendliness, voice turning cold, "Give me face and back away from the coal project."
"What a powerful 'face' you must have!" Li Tang exclaimed mockingly.
A mere gesture could cost billions of dollars—what kind of "face" was that? Iron-plated?
Hu Shitan's expression turned dark.
Typically, he maintained excellent relationships, warmly welcomed across major steel enterprises nationwide. His extensive network of friends had always been his advantage.
Yet, he wasn't entirely without temper.
"Your Li Tang Shengshi Holdings controls plenty of excellent projects. This small Mongolian coal mine doesn't seem particularly valuable. Lituo and Nippon Steel had nearly completed our negotiations with Mongolia before you suddenly interfered. Your actions aren't just unfriendly—they're quite unwise!"
Despite growing frustration, Hu maintained his composure, sticking to facts rather than showing outright anger.
But to Li Tang, Talege Coal Mine wasn't worthless. Quite the contrary, it held enormous value!
He would never simply surrender it, regardless of anyone's face.
"This matter isn't up for negotiation," Li Tang firmly stated.
Hu Shitan stared at Li Tang coldly for a long moment before slowly speaking, "Your approach is too aggressive. Do you realize how easily you might offend others?"
"I never intentionally provoke anyone, but I'm also unafraid of conflict," Li Tang replied firmly.
Feeling nothing productive could come from further discussion, Li Tang abruptly rose without having touched his coffee. "If there's nothing else, I won't waste your valuable time."
He waved briefly, turned, and exited the café.
Hu Shitan watched Li Tang depart, his gaze fixated like a hawk tracking its prey.
"He's too arrogant!"
"Mr. Hu, what should we do now?" asked his subordinate.
"What can we do? It's just a minor Mongolian coal mine—forget it. I'll let Yoshida Tomonori know to drop it. That kid's stubborn and won't budge anyway!"
"This guy showed absolutely no respect. Who does he think he is?"
"Never mind who he is. There will be plenty of opportunities to deal with him in the future!"
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