Chapter 315: Even Boasting Can Be a Crime
"The demand for molybdenum alloys is huge, particularly in stainless steel alloys. The market is extremely thirsty right now," Liu Shanlong remarked, fixating on the enormous profits to be made from molybdenum mining.
Under the umbrella of their Hongda Group, there was a sizable copper-molybdenum deposit in Yizhou province that was currently under exploration and development. The local government had offered substantial support, facilitating a relatively smooth mining license application process. Still, establishing a new mine required billions in investment—no small task.
Liu glanced toward Yu Yong, undisguised envy in his voice: "Yu, you've certainly got it easy. After investing in Luoyi Molybdenum, you secured mining rights outright, and the operations there are already fully mature. You basically made the investment effortlessly, right before molybdenum prices soared. You're literally making money while sleeping!"
Who wouldn't envy that?
To outsiders, Yu Yong simply had extraordinary luck, investing just as molybdenum prices skyrocketed. Had molybdenum prices surged a few years earlier, Luoyi Molybdenum wouldn't have faced bankruptcy, and the Luoyi city government wouldn't have sold a 49% stake of this golden goose to Kunshang Group.
People like Liu Shanlong and Xiao Yongyue, who understood the inside story, could only envy Yu Yong but never dare imitate his strategy. Every company had its own sphere of influence; recklessly investing in unfamiliar territories carried significant risks.
"Your Hongda Group is already famous nationwide for phosphate fertilizer. Now you've expanded into other mining sectors and recently secured Asia's largest lead-zinc deposit—its development potential is enormous!" Yu Yong returned the compliment generously. "The media even suggested recently that if Liu develops this lead-zinc mine successfully, becoming the country's richest man would just be a matter of time!"
"Oh please, that's just nonsense," Liu quickly waved away such praise. He preferred not to wear that particular crown too lightly.
"If we're talking richest men, Li Tang is the real deal," Xiao Yongyue chimed in unabashedly.
"No doubt!" Liu agreed. "I heard that, just on the mainland alone, this year's richest person must be worth over ten billion yuan. That's a new milestone. Last year's richest only had around seven or eight billion; this year, everyone's wealth has surged."
"Everyone's out there making big money now."
"Gaming and internet companies earn it fastest."
"If previous news reports are accurate, given Li Tang's controlling stake in Lianying Mining and its current market value, his personal wealth is nearly three billion Australian dollars, converting to over fifteen billion yuan!"
"A true number-one billionaire!"
"I wonder if those rich lists will even put Li Tang in first place since Lianying Mining is listed abroad."
People were always eager to gossip about the rich lists. Everyone present had substantial net worth, yet those in traditional industries like mining kept a relatively lower profile compared to the flashy internet or real estate sectors.
Until this year, Li Tang had been famous mostly within mining circles but remained relatively unknown to the general public. However, with Lianying Mining's explosive stock performance this year, Li Tang's concealed identity as its mysterious controlling shareholder had been suddenly exposed by the media. Only then did people realize that this quiet young man had been silently accumulating immense wealth through iron ore ventures in Australia.
But Li Tang knew very well that being listed on such rich lists, which the internet jokingly called the "pig-slaughtering rankings," was dangerous. Appearing on them meant becoming a target, waiting in line to be butchered.
Unfortunately, as a publicly traded company, Lianying Mining could not remain anonymous. It mirrored how, in another timeline, when Fred controlled Lianying Mining, its stock price soared dramatically without mining a single ton of iron ore, making Fred Australia's richest person overnight. Yet, in reality, market capitalization often just represented bloated valuations, not tangible wealth.
For Li Tang himself, this inflated valuation brought no real advantage—his actual bank account was relatively modest, especially compared to the genuine tycoons seated before him. Even his holding company, Li Tang Shengshi Holdings, had limited cash liquidity. Building a large-scale mine required billions in upfront capital—money he simply did not have. Relying solely on external financing wasn't easy either.
Thankfully, due to his deliberate low profile in recent years, he wasn't overly worried about security issues like kidnapping or theft.
He cleared his throat, interrupting the animated discussion and bringing attention back to business matters. "Molybdenum prices are rising even faster than iron ore or coal. Now is unquestionably the best time to mine molybdenum!"
"Yet we've still made no progress with the mining license application," Geng Feiran remarked calmly, closely following developments at Shazhai Molybdenum.
"What's going on at the higher levels? Why haven't they granted our mining license after so long?" Liu Shanlong expressed his dissatisfaction. Given Hongda Group's successful record in mining, this bureaucratic delay was especially frustrating.
Yu Yong understood the issue more clearly. "It's because the shareholding structure at Shazhai Molybdenum is dominated by private enterprises. When developing large-scale mines, approvals for private companies are notoriously stringent."
Li Tang nodded in agreement. "Precisely."
"We have the capital, adhere strictly to environmental regulations, and possess the required expertise. Most state-owned enterprises don't even pay as much tax as we private companies," Liu insisted defiantly. "Our contributions are obvious!"
"But we're still treated differently," Yu Yong acknowledged frankly.
"It's like being the illegitimate child compared to a legitimate heir," Xiao Yongyue joked dryly.
"Has the government revealed the specific reasons for denying the license?" Geng Feiran turned to Li Tang, whose headquarters were conveniently located in Yanjing.
"Don't you have a good relationship with the Mineral Resources Administration? Haven't you gone to sort it out?" Xiao asked pointedly.
"The Shazhai Molybdenum project is too important. Even the Mineral Resources Administration doesn't have final decision-making authority; their role is merely to check document completeness," Li Tang clarified. After meeting Chen Aimin, Li clearly understood the situation and felt sympathetic to the bureaucrat's helplessness.
Observing the group's disappointment, Li bluntly stated the future of the mine. "Developing this deposit under our current ownership structure is unrealistic. We're unlikely to get a mining license anytime soon."
"You haven't sufficiently managed your relationships," Liu persisted stubbornly.
"I don't like handling these behind-the-scenes relationships. It's risky," Li Tang replied firmly. "If regulations require a state-owned enterprise for such a key mine, I respect that decision."
"What do you mean exactly?" Xiao pressed, even though he already understood.
Li Tang addressed Liu and Xiao directly. "I intend to sell my shares in Shazhai Molybdenum."
"Giving up so easily?" Liu, though slim, was notoriously tough-minded, having built his Hongda empire from nothing.
"This isn't surrender; it's a strategic choice," Li Tang responded calmly.
He genuinely lacked enthusiasm for developing the Shazhai molybdenum deposit himself. Despite outside portrayals of wealth, he realistically lacked the billions required for mining operations.
Moreover, he foresaw that large-scale private mining ventures rarely succeeded long-term in China. Despite Hongda Group's ambitious plans—such as Asia's largest lead-zinc mine in Yunnan or the massive copper-molybdenum deposit in Yizhou province—even their best-laid plans were ultimately doomed to fail.
True successful examples of large private mining projects were rare. Yu Yong's Kunshang Group's investment in Luoyi Molybdenum was successful precisely because it was a mixed-ownership model with substantial state involvement.
Li Tang thus felt no loss in relinquishing Shazhai Molybdenum. Selling to a state-owned enterprise was a practical and beneficial decision.
Xiao and Liu were visibly disappointed, having counted on Li Tang's leadership. But Li had already made up his mind clearly and pragmatically.
"State-owned enterprises are the best fit," Li suggested, turning to Geng Feiran and Yu Yong. "Your enterprises—Tongdu Nonferrous Metals and Luoyi Molybdenum—are state-owned. If either takes majority control, securing the mining license becomes easier."
Geng and Yu exchanged glances. Both wanted Shazhai Molybdenum's majority stake, each possessing unique advantages. Tension subtly surfaced as they contemplated this rare opportunity.
"If you're interested, we can negotiate internally. If not, Jin Duicheng Molybdenum has also repeatedly expressed interest in collaboration," Li Tang continued calmly. Jin Duicheng was a major state-owned enterprise with strong market presence, certain to pay handsomely.
"We could also hold an open auction," Li added casually, "perhaps fetching an even better price."
"Absolutely not necessary!" Geng Feiran blurted out eagerly. "Our Tongdu Nonferrous Metals understands Huizhou province best—we're the logical choice."
Yu Yong nodded in agreement. "President Geng is correct."
Xiao still couldn't quite accept Li's decision. "Maybe try one more time?"
"There's no need," Li firmly declined. "I've decided. I'm only selling to state-owned enterprises—beneficial for everyone."
"Good!" Geng quickly brightened. "Since you've decided, what's your price for your 34% stake in Shazhai Molybdenum? Any conditions attached?"
"No extra conditions," Li Tang smiled easily. "Just a straightforward cash deal."
Li Tang mainly intended to withdraw since prolonging this matter wouldn't make much sense. No matter how attractive something might be, if unattainable, holding onto it would only cause pain.
"Give us a number, so we can mentally prepare," Geng Feiran said, glancing at Yu Yong. According to Li Tang's intentions, that 34% stake would basically go to the two of them.
If Tongdu Nonferrous Metals could acquire it all, combined with their existing 21%, they would surpass 50% ownership, thereby obtaining full control over the mining rights.
"Previously, when I transferred some shares to you, the valuation of Shazhai Molybdenum was set at two billion yuan," Li Tang paused briefly, his face devoid of emotion. "Not much time has passed since then, and Shazhai Molybdenum remains the same, still without a mining license. However, outside, molybdenum prices have soared day by day. I don't want to be greedy. I'll still use the same two billion yuan valuation and transfer 30% of my shares to you. I'll keep 4% of the shares, but I will resign from all positions in Shazhai Molybdenum."
"At a two-billion valuation, 30% means six hundred million yuan," Geng Feiran calculated, feeling assured. "Agreed!"
He did not haggle over the price, knowing that, with the current market price for molybdenum, a two-billion valuation was obviously below market expectations. If the company were auctioned, the price would undoubtedly rise significantly. Nowadays, mining enterprises had sufficient cash reserves; coming up with two billion wasn't a challenge.
"I hope one of you two companies will gain control. That way, there will be fewer issues regarding the mine's future development," Li Tang thoughtfully considered everyone's interests. "If I transferred shares to yet another company, the shareholding would become scattered. Even if we obtained the mining license, coordinating the development investment afterward would become very difficult."
"Your thoughts are correct; you're genuinely considering our interests!" Geng Feiran agreed with Li Tang.
However, the others didn't speak, each having their own thoughts.
"If there's nothing else, that's all for today. Think carefully about your plans," Li Tang waved his hand, concluding the meeting.
The employees outside noticed a shift in mood as the bosses, who had seemed cheerful at the beginning, left the meeting room with solemn faces. Clearly, some disagreed with Li Tang's decision but couldn't oppose him outright. After all, Li Tang was still effectively controlling Shazhai Molybdenum. Moreover, his decision had clearly gained support from both Geng Feiran and Yu Yong. Liu Shanlong had 10%, Xiao Yongyue 18%; even if both opposed the decision, their voices wouldn't change the outcome.
Each departed quietly, lost in thought.
Geng Feiran was surprised yet unsurprised when he received a call from Yu Yong shortly afterward. Meeting face to face, Yu Yong, a man of few words, got straight to the point: "Let's cooperate—our two companies together can jointly develop Shazhai Molybdenum. We have the technology and team, and your local public relations will be more effective."
"Can you make decisions on behalf of Luoyi Molybdenum?" Geng Feiran knew Kunshang Group wasn't yet the controlling shareholder of Luoyi Molybdenum.
"Yes," Yu Yong nodded. "We're negotiating with Luoyi city's State-Owned Assets Supervision and Administration Commission to expand our investment and take controlling stakes. Our people have largely taken over Luoyi Molybdenum's management already."
"No wonder Luoyi Molybdenum has been developing so rapidly and increasing production lately—it's because of your decisions," Geng Feiran understood immediately.
"Interested?" Yu Yong recognized that without Tongdu Nonferrous Metals' cooperation, Luoyi Molybdenum would struggle to fully take Li Tang's shares and could even be sidelined. Everyone knew Shazhai Molybdenum was big enough to build an enterprise even larger than Luoyi Molybdenum, with limitless potential.
Although Yu Yong found Li Tang's decision puzzling, he wholeheartedly approved—after all, he might benefit immensely.
"Yes," Geng Feiran knew cooperating with Yu Yong would clear all obstacles to gaining control. Previously, they had been each other's main competition; joining forces would make them unstoppable. Additionally, Li Tang's price of six hundred million for a 30% stake was truly inexpensive.
"It's settled then!" Yu Yong shook hands with Geng Feiran, establishing an informal agreement. Earlier, Yu Yong had even suspected Li Tang had privately arranged a deal with Geng Feiran. After all, Tongdu Nonferrous Metals already had 21%; taking Li Tang's 30% would bring them exactly to a controlling 51%.
"We really want full control of Shazhai Molybdenum, but our Tongdu Nonferrous Metals lacks experience and necessary technology in molybdenum mining," Geng Feiran explained openly. He knew cooperating with Luoyi Molybdenum was beneficial, ensuring advantages complemented each other. "I hope we can achieve mutual benefit."
"Indeed," Yu Yong agreed.
"But Tongdu Nonferrous Metals wishes to gain even more shares," Geng Feiran added cautiously.
"How many?"
"Twenty percent from Li Tang's shares," Geng Feiran reasoned clearly. If either Liu Shanlong or Xiao Yongyue agreed to exit, taking their shares would also push Tongdu over the 51% threshold. Ideally, Tongdu Nonferrous would hold more than 67%, and Luoyi Molybdenum would own the remainder. This arrangement would ensure cooperation dominated by Tongdu Nonferrous Metals, simplifying future management.
Yu Yong smiled knowingly, "Let's discuss it slowly."
...
Seeing shareholders leaving unhappily, Lin Feiming, driving the car, was confused. As just a driver, he usually refrained from questioning, but seeing Li Tang's depressed expression, he couldn't help asking, "Did they argue?"
"There were some differences," Li Tang admitted. He knew his decision conflicted with others' hopes, but he couldn't worry too much.
"They seemed happy at first but left the meeting room upset, like someone owed them money," Lin Feiming couldn't fathom these bosses' thoughts. If he had such wealth, he'd probably laugh himself silly daily.
"I'll soon resign from all my positions at Shazhai Molybdenum, including Chairman and Chief Technical Officer."
"Why?" Lin Feiming worriedly wondered if Li Tang planned to leave altogether. Even though Li Tang hadn't directly provided him much help openly, his presence had always given Lin Feiming and his wife a sense of security at work. If Li Tang left, would they be dismissed by a new boss? Many bosses preferred using their own people as drivers due to confidentiality.
Li Tang, however, had no such concerns, nor did Lin truly act as Li Tang's private driver.
"Just shifting my work focus, don't overthink it," Li Tang reassured him. He hadn't mentioned the share transfer details but had another idea in mind. "We're still shareholders at Shazhai Molybdenum, though different managers will come in. You and your wife can continue working here."
"Still shareholders, but the management changed?" Lin Feiming struggled to comprehend.
"Yes. The changes aren't finalized yet," Li Tang looked at Lin, smiling. "After the restructuring, we'll likely have a board seat. How about you become our board representative?"
"Me, a board member?" Lin Feiming was bewildered. "What exactly do they do?"
"Represent our company at board meetings and vote," Li Tang simplified. "It's very straightforward."
"So, no more driving?"
"As a board member, continuing to drive others around wouldn't be appropriate."
"But I don't know how."
"You don't know how to raise your hand? Like answering a teacher in class—just raise your hand when needed."
"Maybe someone else?"
"You've worked here so long, and no one's more suitable," Li Tang laughed. "Besides, I trust you."
...
Alice traveled from Perth to Huizhou province, shocked by Li Tang's decision to sell Shazhai Molybdenum shares.
"Molybdenum's market is booming, even better than iron ore!" Alice attempted to reason with Li Tang.
"I'm very clear," Li Tang smiled, choosing a Western restaurant to welcome her. "Let's discuss over food."
Alice was exhausted from travel, yet intrigued by Li Tang's unexpected decision. "Are you selling to invest entirely in Lianying Mining?"
"Six hundred million yuan would barely cause a ripple at Lianying Mining," Li Tang trusted Alice implicitly, revealing openly, "This money will support upcoming projects."
"You have other plans?" Alice guessed, "Are you developing Simandou Iron Mine?"
"Simandou's development is far away, even exploration is incomplete," Li Tang explained calmly, "I've promised to start new coal or copper exploration projects soon."
"But you don't need to sell Shazhai Molybdenum for that," Alice offered company funds.
Li Tang laughed, "I might have too many ideas—probably not good."
"At least you realize it," Alice gently warned.
Alice then mentioned trouble at Lianying Mining: Fred faced a ten-million-dollar fine from the Securities Commission for unrealistic promises made to the media, sparking accusations of fraud.
"Even boasting can be a crime?" Li Tang laughed uncontrollably.
Alice handed him her juice, annoyed, "Is it funny?"
"It's amusing," Li Tang sipped the juice, unconcerned whose it was. "Tell Fred to be cautious. Ignore criticism. We trust our own people."
"Still, this wave of criticism feels coordinated," Alice worried.
Li Tang calmly assured her, "Be vigilant but don't panic. Media thrives on drama."
He became serious, "For the Shazhai share transfer, handle the financial arrangements—you're good at this."
Alice nodded confidently.
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