BTC Chapter 478 : We express our “regret”

Edited: XiaXue

Sheng Wenyan learned the news and rushed to Nigeria to deal with it in person.

At the mine. Esmidala, the official of Ministry of Land and Resources, came to review with several colleagues.

Lin Zhiyuan has prepared for a long time. If it’s a normal procedure, there should be no problem with the inspection.

“Mr. Esmidala and distinguished leaders. Welcome to our mine for inspection.” Lin Zhiyuan greeted enthusiastically through the translation software.

Esmidala and others were stern, acting like they were doing business. They patrol the mines and require very strict requirements in all aspects.

After checking, Esmidala began to look for problems. In many places, he can point out the unqualified aspects.

“These unqualified places are still trivial matters, and environmental problems are the most serious!” Esmidala said, “In our regulations, mining must protect the local ecological environment, and you have absolutely not meet the target requirements for this!”

Lin Zhiyuan and others could only laugh and explain, but the other party didn’t care about their explanation. Mining minerals must destroy the ecological environment. The key is to meet the standards, the environmental restoration after mining, and so on.

In fact, Guangtu Mining has implemented it in accordance with the standards, but if you want to add a crime, what can you do? If the other party is looking for something wrong, they can’t be invulnerable.

Esmidala and others left, and immediately brought a rectification order, requiring Guangtu Mining to carry out rectification within a certain period of time, otherwise severe punishment will be imposed!

Their intentions are already obvious. The mining rights of this mine of Guangtu Mining are afraid will not be able to be kept.

“Joyce, we have given them a rectification order. As soon as the time comes, we will take back their mining rights on the grounds of destroying the ecological environment!” Esmidala communicated to Joyce, “At that time Rio Tinto Mining companies can apply for mining.”

“Thank you, when the things done. I personally will visit you and your friends in the government department!” Joyce promised him benefits.

“Hahahaha, don’t worry, this will definitely happen, and you can prepare to take over the mine!” Esmidala confidently assured.

In the mine, Guangtu Mining Group, which received the notice of rectification, also actively responding.

“How far is the mining progress now?” Sheng Wenyan asked.

Lin Zhiyuan had no worries on his face. Instead, he said triumphantly: “President Sheng, originally we planned to mine for 20 years. Then we changed it to an accelerated rate of 10 years. Now, we only used one year to mine 70% total planned.”

“In this mine, the rich iron ore and ilmenite with high metal content have basically been mined by us. The rest are the next-level ore, and the value is not high. It can be said, we have completely recovered the cost and made a lot of money!”

“I have to say. The mining equipment you bought from Red Letter Group is too advanced! Especially the mining robots are too worry-free.”

“Okay.” Sheng Wenyan said with a lot of peace of mind, “Now we can start finishing work. After working for so long, we can also let everyone go back to China and rest for a while.”

“Okay, I’ve long wanted to go back to China! If vice-president Xin knows our progress is so fast, I don’t know what their expression is!”

When they reached rectification deadline. Esmidala and others came to the mine again for inspection. Everything was as they expected. The mine had done well before, and the rectification standards they requested simply failed to meet.

“I regret to inform you, Mr. Sheng Wenyan. The mines operated by Guangtu Mining Group in my country have not met our environmental protection requirements. Therefore, we will adjust the mining and operating rights of this mine.” Esmidala said with a look of “regret”.

He originally thought Sheng Wenyan and others would be angry, argue with them, and even go to court to defend their rights. However, everything not like he thought. On the contrary, everyone in Guangtu Mining Group was very calm. Sheng Wenyan said “regretfully”: “We have tried our best to protect the local ecological environment in the process of mining ore. If this didn’t meet the standard. It may be your request is too harsh.”

“We question this and hope that your department can adjust its policies so that our foreign investors can have a fair market environment… As for the penalty decision, our group reserves the right to appeal.”

They speak righteous words, but it is difficult to see anger and disappointment on their faces. This makes Esmidala a little puzzled. If they recover their mining rights, they will at least lose tens of billions. Don’t they care about such losses?

“Mr. Sheng, you have to know that this is not something I can decide.” Esmidala was still throwing the pot for himself, saying: “This is the department’s regulations, and I also follow the regulations. We are also keen to create a fair market environment for investors and entrepreneurs in your country, but we also hope that you will abide by our country’s legal system.”

Both parties made false claims. One expressed a fair stand and a serious punishment decision, while the others expressed the need to safeguard rights and interests.

Of course, the results have not changed. A few days later, Kaduna State’s Ministry of Land and Resources announced that Guangtu Mining Group from China, because of serious damage to ecological environment during mineral resources mining process and the ordered rectification was not carried out in accordance with the requirements. Guangtu Mining Group’s mining rights was withdrawn in accordance with local laws

After the news, Guangtu Mining Group issued a statement in response, saying it was complying with the law and ‘deeply regrets’ the penalties, and fully launched the mining industry in the region, hoping for a fair and equitable business environment in the future.

This incident affects both parties. Nigeria’s penalty decision has discouraged some international investors from the mining industry in the area. Guangtu Mining Group also saw its share price fall by five percentage points because of the news.

In China, Guangtu Mining Group, once again held a high-level meeting to discuss this matter.

“Vice-President Xin!” Xin Zhe arrived in the meeting room early. All the high-levels who came in greeted him, including the veterans who had a lot of weight in the group.

Xin Zhe nodded, indicating that the content of today’s meeting will be made into a projection screen for the directors of company to see and he is already confident.

The group suffered heavy losses in African market. All because of Sheng Wenyan decision-making mistakes. The company’s share price fell and the directors would definitely dissatisfied. Today’s high-level meeting is the day to reflect on this mistake and let Sheng Wenyan step down!

Most senior executives has recognized him. He will take over the position of President Sheng Wenyan and become the helm of this large group of hundreds of billions!

High-level people arrived one after another. Even they unable to be there. They will connected to the meeting remotely via projection.

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