Chapter 322: The Boss Behind the Scenes Steps into the Spotlight
The annual conference of Australia's Association of Mining and Exploration Companies (AMEC) was considered one of the most prestigious events in the mining industry, equivalent in stature to Canada's PDAC.
At such a grand occasion, numerous awards would be presented. The most coveted among these was undoubtedly the Exploration Award. This wasn't granted every year—only when a groundbreaking new mineral deposit was discovered. Sometimes, several years could pass without anyone receiving this highest honor.
This year, however, no company was awarded the Exploration Award. Nevertheless, plenty of minor accolades, such as the Outstanding Community Service Award and Distinguished Company Award, were handed out to various enterprises.
For many small and medium-sized exploration and mining companies, participating in this prestigious event provided an opportunity to enhance their profile, promote projects, and attract investment. Beyond that, it was also a perfect setting to network, discuss potential business deals, and build strategic relationships.
Even large corporations like BHP Billiton and Rio Tinto would attend such events, scouting for investment opportunities or even acquiring promising smaller companies outright.
Business deals and investments frequently began informally at these evening banquets. Conversations sparked casually over drinks often blossomed into lucrative partnerships.
The banquet was held in an open-air dining hall by the seaside, filled with gourmet delicacies and a wide variety of fine wines and beverages. A renowned classical music ensemble softly played elegant tunes, their soothing melodies flowing gently above the mingling crowd.
Attendees formed small groups, chatting leisurely, while others circulated with glasses in hand, scouting for promising new connections. A few discreetly admired the graceful female guests or servers passing by, savoring the visual pleasures of the evening along with their drinks.
Holding a glass of wine, Gareth circled the room, searching carefully, but he couldn't find Fred anywhere. This was strange—he'd clearly heard Fred loudly speaking during the day's conference, yet now at the evening event, Fred seemed to have disappeared.
Gareth had hoped to talk casually with Fred tonight in a relaxed atmosphere, perhaps to mend their somewhat strained relationship. After all, business was business; personal grudges rarely lasted long.
"Boss, this is Carroll, Technical Director from Rumble Resources," Miles, BHP Billiton's exploration manager, introduced as he approached Gareth, accompanied by another man. "Carroll just told me about his company's plans—they'll be starting some exploration drilling around the periphery of the Tropicana gold project in the Fraser Range."
"Ah, nice to meet you." Gareth shook Carroll's hand somewhat perfunctorily.
"Our budget is limited, and we can only drill about five verification holes," Carroll said frankly, clearly indicating his need for investment. "However, I believe the area surrounding the Tropicana gold discovery still has excellent exploration potential."
"Good luck. Keep at it," Gareth replied noncommittally, showing little enthusiasm.
BHP Billiton typically had its own experienced exploration teams and rarely invested in smaller junior companies unless they had already demonstrated the discovery of significant mineral deposits. Risky speculative exploration didn't interest them. If every junior explorer claiming to hold great potential asked for funding, their investments would be unmanageable and unwise.
"Alright, if you're interested, feel free to contact me anytime," Carroll courteously withdrew without further insistence.
Miles walked aside with Carroll, continuing their discussion. Gareth had unknowingly just passed on an extraordinary opportunity. In reality, the Tropicana gold project would soon become Australia's largest and highest-grade gold discovery in recent years, catapulting Carroll to fame and securing him an eventual Exploration Award.
"Gareth!" A familiar voice called out as Alba emerged from the crowd, approaching Gareth, their glasses clinking gently. "Quite a few interesting exploration discoveries this year. Surprisingly, BHP Billiton doesn't seem very interested. I noticed you politely rejecting several small company CEOs just now—are you perhaps waiting for someone special?"
Gareth always appeared reserved, but that didn't mean he lacked social skills. In truth, he was a highly skilled negotiator. At every AMEC annual event, he typically identified valuable exploration companies worthy of investment, particularly those awarded prestigious recognitions.
Yet today, he seemed disinterested, casually rejecting conversations with several company representatives, a notable departure from his usual practice.
"There weren't any remarkable discoveries this year—no Exploration Award was even given out," Gareth explained lightly, sipping his wine, offering a plausible reason for his lack of interest.
"True, it's not exactly a bumper year for mineral exploration," Alba concurred.
While many minor awards were distributed earlier, none represented truly spectacular discoveries. Most new finds were too modest to attract the attention of giants like Rio Tinto and BHP Billiton.
As they chatted casually, a loud voice suddenly interrupted from behind: "Gentlemen!"
Alba turned around and immediately frowned, recognizing the newcomer: "Balmer, you again?"
Balmer had already cornered him earlier, persistently pitching his project.
"I was just having such a delightful conversation with Mr. Alba earlier, and thought I'd continue chatting," Balmer replied cheerfully, seeming innocuous enough.
Yet Alba wanted nothing to do with Balmer, worried he'd inadvertently get tangled in some trouble. Quickly noticing his empty glass, Alba motioned to a nearby waiter for a refill, subtly distancing himself from Balmer.
Gareth, likewise uninterested in being cornered by Balmer—who had quite a notorious reputation for persistence—tried turning away. But Balmer had already stretched out his hand to clink Gareth's glass, smiling broadly: "Cheers, Mr. CEO!"
"Cheers," Gareth replied politely, unable to walk away immediately.
Balmer swiftly gulped down his wine, exclaiming cheerfully, "I was just explaining to Mr. Alba about my magnetite iron ore project near Port Hedland in the northern Pilbara—ten billion tons of reserves!"
While the 10-billion-ton reserve claim was true, the assertion that it was near Port Hedland was exaggerated nonsense.
"Mm-hmm." Gareth nodded politely, showing little genuine interest. Everyone knew Balmer's sales pitches weren't very credible. Balmer also knew very well that only industry giants like Rio Tinto or BHP Billiton could handle such a massive project, limiting his potential buyers.
Recently, inspired by Fred's extraordinary success with Lianying Mining—developing billions of tons of iron ore reserves from almost nothing—Balmer had grown envious and eager. After studying Lianying Mining's meteoric rise, he realized their success wasn't easily replicable. Ultimately, he decided selling his mine for a handsome profit while the market was booming was his best bet.
"A ten-billion-ton magnetite project—imagine a 30-million-ton-per-year operation earning at least 600 million USD annually! And the mine life easily extends to over 30 years," Balmer pitched enthusiastically. "Honestly, if you don't invest, someone else will—I'm approaching you first because we're friends. Otherwise, I might've already sold it to some Chinese investors."
"Then go ahead and sell it to the Chinese," Gareth replied dismissively, not wishing to be involved.
Undeterred, Balmer continued energetically, "Let me tell you more about our magnetite project..."
Across the room, Gina—a middle-aged woman, somewhat plump and unassuming—was conversing quietly with Zakri, the Premier of Western Australia.
Gina appeared entirely ordinary—average-looking, with no particular charisma. On the street, she'd easily blend into any crowd. Until now, she hadn't achieved anything notable in business, simply managing Hancock Prospecting, a legacy company founded by her father.
Every year, Hancock Prospecting earned tens of millions, sometimes hundreds of millions of AUD in royalties from Rio Tinto's operations at Hamersley Iron mines, since Rio Tinto had leased some critical tenements from Hancock decades earlier. Rio Tinto was obligated to pay Hancock 2.5% of annual gross sales as royalties, making Gina quietly rich—now Australia's wealthiest woman with assets exceeding one billion AUD.
Until very recently, Gina hadn't fully controlled Hancock Prospecting—only in the last few years had she consolidated power, finally seeing brighter days after a difficult past filled with family struggles.
Her father, Lang Hancock, was hailed as a pioneering national hero in Australia for his role in discovering and promoting the vast Hamersley iron ore deposits. However, Hancock wasn't actually the first to find iron ore in Australia. For example, BHP's Newman iron mine had been identified earlier by other geologists and developed decades before Hancock's discoveries.
So why was Hancock honored as a national pioneer?
Because at that time, Australia strictly enforced a maritime trade ban restricting iron ore exports. Lang Hancock tirelessly lobbied federal and state governments, eventually lifting this embargo. This pivotal act unleashed Australia's mineral resource potential, propelling the nation into one of the world's leading mineral producers over subsequent decades.
Precisely because of Hancock's relentless efforts, the once-wild continent and its rugged people of Australia rapidly transformed into an advanced economy.
The local population deeply respected Hancock, and the government honored him greatly by ensuring the vast iron ore deposits he discovered were permanently attributed to him personally, under the name of Hancock Prospecting.
Hancock had only one child, Gina. Logically, after his death, Hancock Prospecting should have seamlessly passed into Gina's hands. However, things weren't quite that straightforward.
After Hancock became widowed, he employed a young, attractive Filipino maid. Over time, feelings developed, and he eventually married her. Later, as age clouded his judgment and the maid whispered sweet manipulations into his ear, he unexpectedly expelled his only child, Gina, from Hancock Prospecting and announced his intention to leave his entire fortune to the maid after his death.
Only near the end of his life did Hancock regain clarity and amend his will, leaving just a house and some cash to his young wife, while finally entrusting Hancock Prospecting back to Gina. But even then, the matter didn't conclude easily.
After Hancock's death, the Filipino wife sued Gina in court, accusing her of secretly altering the will. The ensuing lawsuit dragged on for over a decade, finally concluding only two years earlier. Gina narrowly secured Hancock Prospecting after a strenuous legal battle.
From that moment onward, Australia's wealthiest woman could finally spread her wings and exert significant influence within the mining industry.
"Premier, Mrs. Premier, are you enjoying yourselves this evening?" Gina had an outgoing personality and confident manner of speaking.
Premier Zakri, accompanied by his charming wife, approached Gina. After polite greetings, Zakri smiled and replied, "The wine tonight is indeed excellent!"
"Madam, you look truly stunning. This dress must have been tailored specifically for you—you look like tonight's leading lady," Gina complimented warmly, looking at the Premier's wife.
Pleased by this genuine compliment, Mrs. Zakri—who wore an elegant evening gown—answered cheerfully, "Indeed! A royal fashion designer from the UK flew over specifically for the fitting. Come visit me sometime; I'll introduce you and have the designer create something special for you as well."
"Wonderful," Gina replied politely. She glanced down, noticing her own rounded belly obstructing her view of her feet. She accepted that no matter how luxurious the outfit, it wouldn't showcase much beauty on her physique. Aware of this reality, she usually dressed casually and didn't overly concern herself with fashion.
Noticing Gina's slight discomfort regarding the fashion topic, Premier Zakri tactfully shifted the conversation, asking, "Has the lawsuit against South Africa's Kumba Iron Ore Company regarding Hope Downs been resolved?"
In fact, Zakri already knew the result but chose to inquire anyway to ease her awkwardness.
"We won," Gina responded confidently, immediately reverting to her businesslike demeanor. It seemed clear that conversations about clothing and makeup were far less natural to her than discussing iron ore projects.
When her father had first discovered vast expanses of red earth while flying over the Pilbara region, initiating explorations into the desolate wilderness, Gina had often accompanied him. She'd been quite young back then.
Deserts, iron ore, heavy machinery—these were the things that truly captivated her interest, rather than superficial attempts to attract male attention through makeup or fashionable attire.
"Congratulations, that's fantastic news!" Zakri shared her enthusiasm.
"The court ruled that Kumba Iron Ore violated the contractual agreement through their shareholding changes. Thus, we now have the right to reclaim their 50% stake in Hope Downs."
"How will you reclaim it?" Zakri asked with keen interest.
"We've been negotiating amicably with Kumba's executives, and they've preliminarily agreed to settle peacefully. Unless unexpected issues arise, we'll soon finalize the buyout price for their 50% stake."
"And afterward?" Zakri was eager to hear Hancock Prospecting's future plans.
"We've already begun drafting a feasibility study for development. Once it's complete, we'll submit it to the state government. At that point, we'll count on your valuable support, Premier," Gina stated with a smile.
"Of course!" Zakri beamed, clearly excited. "Just look at how quickly Lianying Mining has expanded! Hurry up and submit your development proposal. Our expert committee will promptly review it. With iron ore prices soaring right now, this is truly a once-in-a-lifetime opportunity—don't miss out!"
Zakri was highly optimistic about Hancock Prospecting's future, seeing even greater potential there compared to the meteoric rise of Lianying Mining. Hancock Prospecting had strong local roots, decades of experience, and a solid reputation.
To Zakri, the rapid emergence of Lianying Mining had been an unexpected yet welcome surprise. If Western Australia could boast two major mining companies competing at Rio Tinto's level, the resulting tax revenues would undoubtedly be substantial!
"We're already evaluating potential strategic investment partners. Apart from developing Hope Downs, we're also preparing to develop Roy Hill," Gina revealed, her ambitions clearly substantial.
She recognized the prevailing market winds, acknowledging that iron ore mining and trade were currently booming. Hancock Prospecting held numerous valuable mining rights, yet under her father's management, not one mine had ever been independently developed—they'd merely collected royalties.
Such a life was comfortable, but Gina's vision differed dramatically from her father's. She refused to settle into complacency. Her ambitions had long taken root, and she was determined to build a true mining empire.
"Excellent!" Zakri's excitement grew further. "If you need my help in any way, don't hesitate to reach out!"
As they continued chatting, a sudden commotion stirred within the banquet hall, causing everyone's attention to shift toward the entrance.
The doorway was guarded meticulously by security, with stringent inspections prohibiting entry with cameras, recording devices, or weapons. Only those who had received special invitations could attend tonight's event.
Every guest was either the CEO of a major mining corporation, a company owner, or a high-ranking state or federal government official. Discussions here often involved sensitive business secrets. This banquet was truly a gathering of the elite.
Such a notable stir among these esteemed individuals could only signal the arrival of someone extraordinarily important.
Fred had arrived.
But rather than entering first, he stood respectfully half a step behind a young Chinese man.
Without question, this man had to be the legendary owner behind Lianying Mining—the mysterious figure spoken of for years!
He had short, neatly styled black hair, exuding clarity and competence. A well-tailored suit perfectly complemented his confident, poised demeanor. Polished leather shoes clicked softly against the floor as he advanced.
Though not exceptionally tall, his aura radiated calm and authority. Nobody present dared underestimate this remarkably composed young man.
His sharp black eyes scanned the room calmly yet decisively, much like an eagle surveying its territory from high above.
"Is he really the mysterious Chinese owner behind Lianying Mining?"
"He's unbelievably young—he doesn't even look twenty!"
"Chinese people tend to appear younger, often due to their softer features."
"My son's only twenty-two but looks far older than him!"
"Look at those eyes—sharp and perceptive. No wonder he's so successful!"
"What kind of background does he have? Does he really have that much influence back in China?"
"His appearance and aura clearly set him apart."
"Latest reports say he's now ranked among China's top ten richest individuals. Within mainland China, he's already number one. Globally, he's already approaching the top 200 richest people!"
"Incredible that someone worth billions of Australian dollars could be so young."
"They say he's entirely self-made—do you believe it?"
"Whether or not we believe it, no one can deny his astonishing success."
"Clearly, his fortune will continue skyrocketing. Once Lianying Mining begins producing and selling iron ore, its market value could easily multiply several times. By then, his fortune could well exceed its current billions!"
"If that happens, as the media suggests, competing to become the richest man in the world isn't impossible."
"And don't forget, besides Lianying Mining, he also owns stakes in Talleco Copper-Gold and coal mines—each with mineral rights worth hundreds of billions of dollars!"
"Plus, there's Guinea's Simandou iron ore deposit!"
"But he's had failures too. He sold off the Pebble Project for just $330 million USD. Today, it could easily fetch a billion!"
The murmurs buzzed among the crowd. Everyone had heard countless stories and speculations about the elusive owner behind Lianying Mining, but tonight marked their first glimpse of him in person.
Nobody expected him to be this way—so youthful, composed, and charismatic. When a billionaire stood among them, even if he wore something absurd, people would still flock to him.
He seemed a living legend, someone from a mythical tale, instantly inspiring awe.
"Fred!" Balmer eagerly rushed over, finally releasing Gareth from his persistent chatter. Approaching enthusiastically, he reached out toward the Chinese man. "I'm Balmer, Fred's good friend. You must be the famous man behind Lianying Mining!"
"Li Tang," the young man replied calmly, smiling politely.
Fred quickly stepped forward, gently intercepting Balmer's eager approach.
Fred understood Balmer's character all too well; if Li Tang was truly deceived by him, it would spell serious trouble.
"Balmer does own a magnetite project with a high reserve—around one billion tons—but the quality, purity, and impurities are far worse than our Chichester and Shura deposits," Fred quickly pointed out.
Clearly, Lianying Mining already had two major iron ore districts and four distinct ore bodies capable of supporting the development of four substantial mines. At present, only the Shuidao mine was under construction, while the other three remained in the planning stages. Each step required massive capital investment.
If Li Tang were deceived by Balmer and diverted essential funding to his magnetite project, that could severely hinder their plans.
"You haven't thoroughly examined our magnetite project; your words aren't fair," Balmer responded with an unwavering smile. "You're a remarkable geologist and a shrewd businessman. I believe, given your insight, you'll recognize the true development potential of our magnetite project."
"Balmer? Magnetite?"
Li Tang stared thoughtfully at Balmer, his cheerful expression contrasting sharply with certain memories that suddenly surfaced in Li Tang's mind.
Wasn't this the same Balmer who had swindled Huaxin Group, causing them to lose billions with nothing to show for it?
He certainly didn't appear particularly exceptional or imposing. With his kindly appearance, he hardly looked like someone who would intentionally deceive people.
Seeing Li Tang deep in thought, Fred worried that Li Tang might actually show interest in the magnetite project. He quickly interjected, calling out, "Waiter!"
A waiter approached promptly, tray in hand, offering drinks.
"Let's have a drink first, maybe a few snacks and some fruit, and we can continue the conversation," Fred suggested warmly, handing Li Tang a glass and taking another for himself.
He cast his eyes across the spacious banquet hall, quickly identifying a short, plump, middle-aged woman nearby. That was Gina, CEO of Hancock Prospecting—the very person Li Tang, Lu Chenyi, and Long Fuyuan had traveled here to meet.
"Gina's right over there; I'll introduce you," Fred gestured respectfully for Li Tang to follow.
As they navigated through the bustling crowd toward Gina, people around them repeatedly turned, offering Li Tang polite smiles and nods.
"Hello, I'm CEO of Freedom Resources. Here's my business card—I sincerely hope to cooperate with you in the future!"
"You're Li Tang? I've heard your name countless times on television, although the media clearly doesn't do you justice."
"You're an extraordinary individual! Perhaps later we can chat—I'm certain you'll find my projects quite appealing."
"Lianying Mining has reached impressive heights, but there's a critical flaw that could pose great risks. If you're interested, I'd be happy to discuss my insights to help eliminate these risks."
"Boss, you definitely need talented people like me! Please consider offering me a position!"
Everyone tried to seize the fleeting opportunity to make connections with Li Tang. Even a simple acquaintance could prove beneficial. After all, many significant business opportunities often arose unexpectedly.
As they approached the center of the banquet hall, their path was suddenly blocked by another figure.
Gareth, who rarely smiled, raised his glass warmly. "Li, we meet again," he greeted with surprising friendliness.
Clearly, even the CEO of a mining giant like BHP had to pay attention to Li Tang. Seeing Gareth make the first move sparked instant curiosity among the attendees, who shifted their attention fully, eager to observe this intriguing interaction.
Previous speculation had suggested BHP or Rio Tinto had been behind Lianying Mining's recent trust crisis. Technically, they were competitors, even rivals. What fireworks might ignite from this encounter?
"Long time no see, Mr. Gareth. I've been thinking about you," Li Tang replied, lifting his glass lightly and clinking it against Gareth's, producing a crisp, clear sound.
Both men smiled, though their true thoughts remained concealed. After sipping his wine, Gareth gestured politely to a nearby seating area. "Care to sit down for a chat?"
"I've been sitting all day; my legs could use the exercise," Li Tang calmly declined, one hand casually in his pocket, his demeanor composed and serene. "Tell me, what does the CEO wish to discuss—trust, competition, or perhaps dreams?"
His words carried an unmistakable edge of challenge. The atmosphere immediately intensified. The crowd felt a thrill—this confrontation was exactly the type of scene they craved. If it escalated into open hostility, even better!
Lianying Mining represented a rapidly rising youth, while BHP stood firmly in its prime. Like two lions locking eyes over territory, the surrounding air grew tense and quiet.
Gareth smiled faintly, responding calmly, "I don't believe in dreams, Li, but I do believe in collaboration."
"Collaboration?" Li Tang appeared puzzled. Given their direct competition, genuine cooperation seemed implausible.
"Despite securing financing from Lucati International Group, your mining operations still face capital shortfalls. Your company's subsequent expansion plans require tens, if not hundreds, of billions more in capital," Gareth explained smoothly, discussing massive figures with ease. "BHP has the financial strength to assist you."
"And how exactly would that help look?" Li Tang asked cautiously, already sensing Gareth's intention. "You want to acquire Lianying Mining?"
Gareth had preferred not to speak so bluntly in public. But recognizing the importance of displaying sincerity, he nodded resolutely. "If you're willing, we could begin acquisition proceedings immediately."
His statement detonated like a bombshell through the room, drawing gasps and whispers that echoed around the hall. Everyone present was electrified by this monumental revelation.
BHP acquiring Lianying Mining?
Such news, if leaked to the media, would dominate headlines worldwide. Lianying Mining's market valuation had just surpassed ten billion AUD and continued rising. If BHP expressed such strong interest, it validated Lianying's business model, potential, and credibility. Any doubts or suspicions would vanish.
Indeed, once news spread, Lianying Mining's stock would likely soar even higher.
"Hah!" Alba, who'd initially sat some distance away, stood to get a clearer view. Upon hearing Gareth's direct offer, Alba smirked knowingly. Gareth's approach mirrored exactly Alba's own earlier considerations.
After collaborating unsuccessfully with BHP to suppress Lianying Mining, Alba had realized its unstoppable momentum, bolstered by the vast Chinese steel market. A change in strategy—to acquire Lianying before it fully matured—seemed logical.
By absorbing such a potent competitor, Rio Tinto could leapfrog BHP and Vale, perhaps even becoming the world's largest mining company. Yet Alba understood clearly that acquiring Lianying wouldn't be easy.
Though difficult, if he could persuade Li Tang, the remaining obstacles would vanish swiftly. However, Alba had learned from past interactions that Li Tang was notoriously challenging to predict or sway.
He couldn't discern precisely what motivated Li Tang: money, fame, women? None seemed fully to capture his interest, leaving Alba hesitant. Gareth, on the other hand, boldly seized the moment—could this direct approach yield surprising success?
Watching intently, Alba felt apprehension grow. If Gareth succeeded, Alba's own ambitions would be crushed.
Li Tang knew both giants—Rio Tinto and BHP—had eyes on devouring his company, but Gareth's openness surprised him nonetheless. Yet his internal resolve remained unshaken.
He immediately shook his head decisively. "I appreciate your offer, but Lianying Mining isn't for sale—at any price."
His refusal came swiftly, unambiguously, leaving no room for negotiation.
A fresh round of astonishment rippled through the room. Many found Li Tang's firm stance shocking. Would anyone else present have rejected such a prestigious overture from BHP?
Most likely not—few would decline BHP's recognition. But upon reflection, Li Tang's response made sense. After overcoming tremendous challenges and criticisms, Lianying Mining finally stood at the brink of immense success. Why allow BHP to swoop in and claim the fruits of their labor?
Indeed, observers knew clearly that Lianying Mining's potential remained far from fully realized.
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