When Guangtu Mining confirmed Sheng Wenyan's decision and was willing to introduce Red Letter Capital, people at Rio Tinto Mining Company in Nigeria, far away in West Africa, were angrily scolding them.
After the local land and resources department of Kaduna State took back the mining rights of Guangtu Mining, it immediately sold it to the Australian Rio Tinto Mining Company.
The senior executives of Rio Tinto Mining Company, represented by Joyce, discovered after a brief period of joy that things were not at all what they thought!
"This is a conspiracy!" Joyce, who has always called himself an old-school British gentleman, was yelling in the mine. "These bastards, those Chinese people, and those black people, they lied to us!"
"What the damn iron ore, what the damn ilmenite associated ore! Everything has been dug here!"
"Look, what else did they leave for us? No wonder that bastard Esmedala didn't let us explore again. It turned out to be a trap for us! I'm going to sue them, these liars!"
"Those black people are so treacherous. They took our money and actually deceived us! If the news reaches the company headquarters, our positions will not be guaranteed!" His colleagues also looked extremely ugly.
When they finally won the mining rights and re-explored the mine, they found that the mineral resources here were not as abundant as the data they had obtained before!
About 70% of the rich ores have been poached by the predecessor Guangtu Mining Group! What is left to them is only some relatively poor quality ores and deep ores that are very difficult to mine!
Rio Tinto Mining Group has been planning for so long, and now it has become a takeover!
In fact, those in Nigeria’s land and resources department have also discovered this situation. They already knew that they had not cheated the Chinese company, but they did not want to lose money, so they deliberately concealed the facts.
When Rio Tinto Mining sent people to investigate, their people gave wrong guidance and made a lot of promises.
As a result, Rio Tinto Mining took over this unfinished mine and made a loss-making deal!
"I hope Satan will take all these bastards away!" Joyce cursed. They would definitely not give up and must recover some costs from the Department of Land and Resources.
But one undoubted fact is that this is Nigeria, their territory. Even if they, the British capitalists, have great reputation, it is a definite fact that they will lose money this time.
And they can only dig out the remaining minerals to reduce losses.
…
Rio Tinto Mining Company and the Nigerian Ministry of Land and Resources have been struggling for a long time, and each has suffered losses, but Guangtu Mining, which has withdrawn from Nigeria, has not been affected.
On the contrary, they have reached a formal cooperation with Hongxin Group. Hongxin Group already holds 5% of the shares of Guangtu Mining, becoming one of the major shareholders with a seat!
Guangtu Mining has increased its efforts to continue to develop the African market and provide stable raw material transportation for the industrial system of Hongxin Group.
But the battle between mining groups has just begun!
"Last month, the international ilmenite ore price fell by 18.3%. The value of the ilmenite ore we mined domestically and from Nigeria has shrunk significantly!" Within Guangtu Mining Group, Sheng Wenyan The assistant was reporting the situation to him.
"In the international market, the price of titanium-related high-titanium slag is also rising. The prices of ores and metal raw materials have all changed. In several major mines we own, the export prices of raw materials have dropped significantly, and the import prices of metals have increased significantly..."
“In several countries in Africa, our mining rights cannot be approved.”
The assistant reported a series of situations, which gave Sheng Wenyan a headache. Sure enough, if Guangtu Mining wants to become a world mining giant, the problems it faces are still huge!
For example, the market prices of raw materials are controlled by mining giants such as Rio Tinto. They have rich mineral resources and advanced metal smelting technology, and control the raw material market. If it rises or falls, the profits of Guangtu Mining Group will shrink significantly.
"Minerals such as iron and copper have little impact. Our country is also a country rich in mineral resources. These raw materials can face the impact of the international market, but our ilmenite ore is a bit difficult to sell." Sheng Wenyan thought, as With the development of the titanium industry, the value of titanium metal has been rising, and Guangtu Mining has accumulated a lot of ilmenite.
If ilmenite prices fall, they are bound to be unaffected.
"Mr. Sheng, the price of ilmenite raw materials has fallen, but the prices of ilmenite concentrate and high-titanium slag are rising." The assistant reminded.
Ilmenite is mined from ilmenite or titanomagnetite, ore with a high titanium content, and is used to make industrial raw materials such as high titanium slag, titanium dioxide, acid slag, and sponge titanium.
High-titanium slag is a titanium ore enrichment formed from titanium-containing ores through physical production methods. It is a high-quality raw material for the production of titanium tetrachloride, titanium dioxide and titanium sponge products.
With the development of modern industrial technology, the demand for titanium industrial raw materials is also increasing, so the prices of titanium concentrate and high-titanium slag are also rising.
"If we could refine our ilmenite into high-titanium slag, we would definitely make a lot of money. Unfortunately, we don't have this technology, so we still have to sell the ore abroad and import high-titanium slag." Sheng Wenyan said helplessly.
Raw materials and processed materials, naturally processing materials makes money. But without that processing technology, they can only do it in a hurry.
"Mr. Sheng, why don't you go to Hongxin Group? What if they can do something?" At this moment, Xin Zhe walked into Sheng Wenyan's office. He also came here because of the falling price of ilmenite ore.
"This is about raw material processing. Hongxin Group is engaged in Internet technology and mechanical equipment, so it can't help us in this regard." Sheng Wenyan said.
Xin Zhe shook his head and said: "Not to mention the large amount of ilmenite we mine in Nigeria, our group owns several ilmenite mines in the country. When the price of ilmenite ore falls, we are the ones who suffer the most."
"The international demand for high-titanium slag has been rising. The high-titanium slag refined in our own processing plant is limited by electric furnace technology, and the accuracy has not been improved. Hongxin Group's equipment research and development technology is very strong. If they can help Maybe we can solve this problem by making a better electric stove? In short, it would be a waste to not use such a good resource.”
"That's right. Let's treat a dead horse as a live doctor. We still have to find a way on our own. At present, we will reduce the mining and sales of ilmenite ore and wait for the price to stabilize." Sheng Wenyan does not have high hopes for this, ore processing It's not a smart technology, so Hongxin Group probably has nothing to do in this regard. But it’s always good to ask, in case it can be of help somewhere and it can also save some losses.