Chapter 318: Crushing Forward, Unstoppable
"I don't even know what to say."
Facing the joint attack from Rio Tinto and BHP Billiton, Li Tang felt unprecedented pressure. With his current power and resources, frankly speaking, resisting their pressure was almost impossible.
Was there any way to fight back?
On his own, absolutely not.
He could only desperately hope someone would step in and support him. But no one had an obligation to do so.
Perhaps his parents would support him without hesitation, but their support would merely be a drop in the ocean.
Hearing Lu Chenyi speak calmly, almost jokingly, yet with firm confidence about his support, Li Tang suddenly felt a profound pride as a Chinese citizen.
At least in this moment, he wasn't alone.
This was business—but it was more than business.
"Relax," Lu Chenyi said soothingly, sensing Li Tang's enormous stress. "No one can easily buy our support. We have our own long-term plans, our own stance, and won't easily be influenced by external factors."
He paused thoughtfully, continuing, "In the steel industry and iron ore production, we operate on timelines of three to five years. The government also plans in five or ten-year terms. We don't focus too much on immediate gains or losses, but rather on sustained long-term growth."
His words were somewhat abstract.
Li Tang partially understood, though not entirely. "You mean, time will eventually heal all wounds?"
"What wounds?" Lu Chenyi laughed heartily. After a moment, he added, "I carefully studied Lianying Mining's development plan. Your three-phase proposal includes an initial annual production capacity of 50 million tons, expanding to 100 million tons in the second phase, and finally reaching 150 million tons in the third phase, correct?"
"That's right," Li Tang affirmed, clearly proud of his comprehensive, forward-looking strategy.
The more than 400-kilometer railway he had planned wasn't just to link Blackland Port with the Qiqie Iron Mine—it also included a branch line to the Xiuluo Iron Mine in the Hamori Mountains. It was a fully integrated infrastructure blueprint, visionary and ambitious.
Insiders could easily recognize the plan's ambitious scope. Skeptics, however, considered it overly idealistic, a beautiful but improbable dream.
People believed what they wanted.
"Your development timeline aligns closely with our steel industry's future growth," Lu Chenyi explained, his eyes filled with confidence. "As long as you keep pace, we'll undoubtedly find synergy between our enterprises."
He believed wholeheartedly in Lianying Mining's development plan—hence the early commitment to a long-term, 20-million-ton annual iron ore supply contract.
Such trust was the strongest endorsement.
"You truly understand us, Director Lu," Li Tang said appreciatively.
"With China's industrial growth, domestic iron ore production cannot meet demand. Imports are inevitable. Currently, the three iron ore giants control global trade and pricing. They decide how much profit they make," Lu said, looking deeply at Li Tang. "Lianying Mining's sudden rise is good news for everyone. If you can successfully execute your three-phase plan, it could break their price-setting monopoly, significantly benefiting our steel industry."
He paused, maintaining eye contact. "I assume your thoughts align with ours."
"Absolutely," Li Tang nodded.
"Therefore," Lu emphasized passionately, "Lianying Mining cannot fall—it must thrive and grow. This isn't just about you; it's crucial for the future of our entire steel industry!"
"With your words, Director Lu, I'll stake everything to make Lianying Mining succeed!" Li Tang felt reassured.
"The actions of BHP and Rio Tinto—trying to strangle your company in its cradle—only prove that your approach genuinely threatens their dominance. Ironically, their desperation confirms you're on the right track."
"But right now, I have no effective way to counter their attacks," Li Tang admitted honestly.
"As I said, this isn't your burden alone," Lu Chenyi replied forcefully, standing up. "It's a responsibility the entire steel industry must share! Come with me to Beijing—we'll speak to President Bao at the Steel Association. Trust me, he'll support us wholeheartedly!"
They soon arrived in Beijing.
"Director Lu already discussed your situation with me. Clearly, someone is deliberately targeting Lianying Mining," Bao Yanyao said, unsurprised by their visit.
It was a weekend, and Bao was leisurely fishing at a local fishery. Handing Li Tang a fishing rod, he advised, "Fishing teaches patience, especially useful for young people like yourself. When facing problems, avoid impulsiveness and rash decisions."
The fishery's waters were murky, yet teeming with large fish visible just beneath the surface. Li Tang was initially impatient but, observing Bao and Lu's calm demeanor, decided to join quietly.
Soon enough, his float bobbed vigorously. Li Tang tugged hard, bending the rod dramatically. Moments later, he landed a sizable carp.
"Some people truly have innate luck—everything goes smoothly," Bao joked gently from the side.
Li Tang was delighted by his catch. Yet soon he realized the fishery was densely populated—catching fish wasn't exactly challenging. They spent the morning fishing, easily gathering over a hundred pounds of fish, releasing all but one lucky fish back into the water.
At lunchtime, they ate fish freshly cooked from their morning catch. As they ate, Bao finally addressed business. "Have you determined exactly what's happening and who's behind it?"
Lu gestured towards Li Tang, "Rio Tinto and BHP joined forces against him. Quite a big show."
Li Tang summarized quickly: "I learned Hu Shitan and Wu Yan, the representatives from Rio Tinto and BHP Billiton in China, privately indicated to local steel companies that anyone collaborating with Lianying Mining wouldn't receive their iron ore. They're forcing Chinese steelmakers to choose sides."
"This violates fair competition rules," Bao remarked thoughtfully.
"But there's no official record or direct proof," Li Tang explained with frustration. "They used subtle hints. Without concrete evidence, legal action is difficult."
"Hu Shitan and Wu Yan hold significant influence here," Lu added with a sigh. "Many domestic steel mills rely heavily on their distribution of imported ore. Iron ore supply is scarce, so companies chase after them."
"Such market practices are unfair," Bao nodded, then asked Lu directly, "Have they approached Haigang Steel with these demands?"
"No," Lu shook his head firmly. "With our size and purchasing power, they wouldn't dare try. We negotiate directly with their global executives. BHP and Rio Tinto wouldn't risk losing a client importing millions of tons annually."
In the 1990s, foreign iron ore producers begged Haigang Steel to buy their ore. Only in recent years had positions reversed. Yet even today, the three iron ore giants wouldn't risk angering such a significant buyer.
"Understood," Bao said thoughtfully, having previously investigated the situation himself. Turning to Li Tang, he declared, "For the steel industry's future, Lianying Mining cannot fail. We'll fight this battle alongside you!"
"How exactly?" Li Tang asked, eager for concrete assistance. If previously promised low-interest loans exceeding a billion dollars materialized, problems would resolve quickly. With funds, rapid mine development would silence critics effortlessly.
"The Foreign Funds Utilization Office hasn't changed its stance yet. I'll keep advocating on your behalf," Bao promised firmly. "I'll quickly convene a meeting with other steelmakers. We must band together to ensure a sustainable development environment."
Returning to Cloud Top Tower, Li Tang anxiously awaited further steps. He worried these veteran executives, skilled at workplace politics, might merely offer empty promises.
As anxiety grew, he unexpectedly received a call from Niu Fu, who bluntly said, "Come to my office immediately."
At Wukuang Group's headquarters, Li Tang found Niu Fu alongside executives from Wukuang Trading Company.
"You called, President Niu?" Li Tang wondered why Niu summoned him now.
"You're here." Niu handed him a document directly. "After discussions, we've decided to expand cooperation with Lianying Mining significantly."
"Cooperation?" Li Tang quickly skimmed the document.
"Our trading company intends to sign a ten-year agreement with Lianying Mining for annual imports of 10 million tons of iron ore," Niu explained straightforwardly. "We're Wukuang Group, second-largest shareholder in Nanyang Investment Company, indirectly making us your second-largest shareholder."
"Yes," Li Tang nodded, surprised yet pleased.
"Given our status as second-largest shareholder, can we negotiate a discount?" Niu asked half-jokingly.
Li Tang finished reviewing the proposal, genuinely moved but slightly confused. "You're importing such large quantities of iron ore? Wukuang Group doesn't even operate steel plants."
"We've long engaged in iron ore trading," Niu Fu responded casually. "Even if we struggle to resell the ore, setting up our own smelting plant wouldn't be difficult."
It was clearly a supportive gesture toward Li Tang amid Lianying Mining's crisis.
"Steel smelting isn't exactly advanced technology," the trading company representative added.
Such substantial support could dramatically stabilize Lianying Mining's falling stock price.
"I can't offer extra discounts. 58% grade ore at 85% of the standard index price—that's the best I can do," Li Tang smiled gratefully. "You got harsh criticism before for reselling iron ore, yet you're boldly doing it again?"
"What reselling?" Niu snorted indignantly. "Many steelmakers lack import capabilities—we're solving their problems! It's helping people, like I've said repeatedly!"
"Right, helping people," Li Tang chuckled, relieved.
Making money, after all, wasn't shameful.
Niu Fu glared at Li Tang and asked, "You previously sold shares of Dynasty Mining Company, receiving 330 million US dollars, with 200 million in cash and a 130 million dollar loan to Lianying Mining as freight costs for iron ore transport, right?"
"Yes," Li Tang answered, puzzled as to why Niu Fu suddenly brought this up.
"Our Wukuang Group has a good financial status recently, but we've invested heavily in the Talego project, with much of it financed through loans. Honestly speaking, as one of Lianying Mining's shareholders, we have a duty and obligation to share the company's developmental pressure."
"Does Wukuang Group have other assistance besides the contract?" Li Tang felt pleasantly surprised again.
"Previously, you handled everything alone and provided substantial financial backing. As the second-largest shareholder, it's time we also step up and show our support."
Niu Fu handed another document to Li Tang. "I negotiated this with the group's board, and Chairman Lang has already signed off. The board specially approved a five-hundred-million-yuan loan to Lianying Mining, specifically for mine construction."
"Five hundred million?" Li Tang found it hard to believe.
"This is already our limit. If you're hoping for more, there isn't any!" Niu Fu quickly added, fearing Li Tang would ask for even more. "This money is basically Wukuang Group's last bit of liquidity!"
"That's more than enough!" Li Tang was genuinely touched.
"We trust you completely. We treat you as one of Wukuang Group's own, so we're providing this money despite the pressure."
Indeed, Niu Fu had faced considerable pressure securing such a sum. If Lianying Mining's mine project failed, the funds would vanish. But with Li Tang, no risk seemed too large. Whether it was Qulong Copper Mine or the Talego copper-gold and coal mines, their value far exceeded five hundred million yuan. These mining rights were all brought in by Li Tang.
This money could be considered a small token of gratitude. When Niu Fu proposed the plan, the board immediately approved upon hearing it was to support Li Tang and Lianying Mining.
Returning to his office, Li Tang cheerfully hummed a tune. As long as discerning eyes continued supporting him, what did external gossip matter?
Picking up the phone, he dialed an international number.
"Boss, what's up?" Fred answered instantly.
"Come to Yanjing," Li Tang said briefly.
"Good news or bad news?"
"Good news." Li Tang chuckled, not explaining further. "You'll see when you arrive."
After hanging up, Dai Yingchi entered the office to find Li Tang happily humming an old-fashioned tune.
"What's got you so happy?" Dai asked.
"Good news!"
"Has the Lianying Mining issue been resolved?"
"There's definitely good news." Li Tang crossed his legs comfortably. "Those petty schemers, those plotting fools, ultimately won't succeed."
"Really solved?" Dai Yingchi, without asking specifics, shared Li Tang's happiness. "Should we celebrate?"
"Celebrate during work hours?"
Dai Yingchi reached into his pocket and pulled out two chocolate bars wrapped in tin foil, handing one to Li Tang. "How about celebrating with chocolate?"
"You, a grown man, carry chocolate?"
"I leave home early, and my girlfriend worries I skip breakfast, so she always puts chocolate in my pocket." Dai Yingchi smiled awkwardly. "I don't like chocolate, so usually I pass them to the HR girls."
"So, you're deliberately fattening up the HR department?" Li Tang joked, unwrapping the chocolate and chewing. It was excessively sweet, making him quickly rinse his mouth with tea.
While chatting, his phone suddenly rang, displaying an unknown number.
"Hello, this is Li Tang."
"This is Long Fuyuan. I just arrived in Yanjing, currently at the Steel Association with President Bao right in front of me. You're quite famous, Mr. Li—could we have the honor of meeting?"
Long Fuyuan?
Li Tang had never heard of this name.
"You're at the Steel Association?"
"Yes. President Bao and I have been talking extensively. He praises you greatly, saying you're courageous, intelligent, and visionary."
"I'll come right away."
Li Tang said no more on the phone, deciding meeting in person would be clearer.
The Steel Association was close to Cloud Top Tower, and he arrived quickly.
Indeed, President Bao's office had other visitors. Among them was a sturdily-built man chatting and laughing across from Bao Yanyao.
"You're here!" Bao immediately stood to greet Li Tang.
"This is the renowned young entrepreneur, a self-made billionaire, Li Tang?" The sturdy man scrutinized Li Tang curiously.
"That's him!" Bao Yanyao enthusiastically guided Li Tang forward, introducing him, "This is Mr. Long Fuyuan, General Manager of Tangshan Steel."
Tangshan Steel was China's second-largest steelmaker, boasting total assets worth 50 to 60 billion yuan, producing over 10 million tons of steel annually—second only to Haigang Steel.
Li Tang immediately shook Long Fuyuan's hand respectfully, "It's an honor to meet you!"
Though Tangshan Steel was famous, Li Tang was new to steel production and unfamiliar with Long Fuyuan personally.
"Truly remarkable!" Long Fuyuan grew increasingly impressed by Li Tang. Initially, he knew Li Tang was young but seeing this youthful face in person still felt surreal. How could such a young person achieve so much, even potentially shaping the future of the steel industry?
"You're in your prime as well, Mr. Long, leading Tangshan Steel to great success," Li Tang returned the compliment politely.
"I'm just a steel worker," Long smiled humbly. Gesturing Li Tang to sit, he glanced at Bao, explaining, "President Bao already briefed me. In fact, I've long been aware of Lianying Mining and recently followed related news. It's remarkable a young talent from China is developing a significant iron ore mine overseas."
"We've just started," Li Tang replied modestly.
"I've had people investigate your Lianying Mining thoroughly. Its rapid, steady growth is very impressive."
"We've indeed made considerable efforts and have much more to do."
"I'd have met you earlier if not for being busy recently. I heard you signed several supply contracts lately."
"Interested, Mr. Long?" Li Tang smiled knowingly.
Long pointed at Bao, "President Bao contacted me about your situation. Honestly, he's very optimistic about your company's future and about your leadership. So, today is definitely a good day—I checked the almanac before heading out."
Everyone laughed.
"Today truly is a good day," Li Tang agreed happily.
"You can supply high-quality iron ore at competitive prices, and Tangshan Steel is planning to gradually expand steel production, thus needing more iron ore," Long continued. "Given this, why not cooperate?"
"Having Tangshan Steel's support and trust would certainly empower us," Li Tang's spirits soared.
China's two largest steel companies cooperating with Lianying Mining—could there be any stronger validation? With this solid backing, external criticisms and doubts would dissipate like smoke. Those slandering Lianying Mining in the media would simply become jokes.
"Exactly! Tangshan Steel will give Lianying Mining the wings it needs to soar higher," Long laughed heartily.
"A perfect match!" Bao chimed in happily.
Li Tang quickly regained composure, asking practically, "How much iron ore does Tangshan Steel need, and what terms do you have in mind?"
Pretty words meant little without concrete contracts.
Though Long's visit was informal, they had a clear proposal ready. "We know Lianying Mining's mine construction is planned in three phases, gradually increasing capacity."
"That's correct," Li Tang confirmed.
"Based on your phased plan, we propose a gradually increasing supply agreement—250 million tons in the first year—"
"Two hundred fifty?" Li Tang interrupted briefly.
"Any issue?" Long asked, puzzled.
"None. Please continue," Li Tang suppressed a chuckle.
"First year 2.5 million tons, second year 5 million, eventually reaching 20 million tons annually. Over ten years, totaling 150 million tons."
Long elaborated, "If your mine launches as expected by late 2005, stable production would likely start in 2006, correct?"
"Yes, our contracts with other firms also begin in 2006."
"Such large-scale mines require a testing period—typically around three months," Long noted expertly.
"Correct," Li Tang agreed.
"Post-testing, production wouldn't immediately reach full capacity. To ensure safety, initial stable operations would yield about half capacity—approximately 30 million tons annually."
"A first-year production of 30 million tons is optimistic," Li Tang admitted. "You clearly understand our true production targets."
"So, a gradually increasing supply contract aligns perfectly with both our interests," Long smiled. "We both expand steadily—ideal partners."
"Brilliant, Mr. Long!" Li Tang admired sincerely. Clearly, Long Fuyuan was a true industry expert, easily grasping Lianying Mining's trajectory.
Long laughed warmly. "I've heard details about your contracts with Haigang Steel. No special treatment required—standard terms will suffice."
Li Tang, deeply grateful, promised earnestly, "We'll fulfill our commitments, providing top-quality ore."
They shook hands warmly, Li Tang also casting grateful eyes towards Bao, whose crucial role made this massive 150-million-ton contract possible.
Now, with contracts for 350 million tons of ore from China's top two steelmakers, Lianying Mining was assured survival and prosperity.
Nothing could stop Lianying Mining now. Like a heavy-laden train, it surged forward, unstoppable.
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